Laptop Battery Chronology of accounting practices and federal investigations of Qwest Communications International Inc.:
According to the indictment, Jones would steal various IBM and Penguin computer servers from Verisign's warehouse in Virginia and sell them to Johnson. Johnson would then sell the servers to several individuals, who would sometimes place them for sale on eBay. As a result of this scheme, the indictment alleges that Jones and Johnson caused Verisign to lose more than $120, 000 worth of computer equipment. In the indictment, Jones and Johnson are charged in three counts with causing the interstate transportation of stolen property, namely IBM 330 and 335 servers, in violation of 18 U.S.C.
Thinkpad 2001:
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Microsoft --June 20: Morgan Stanley downgrades Qwest stock after analyst questions accounting practices. Qwest Chairman and Chief Executive Officer Joseph Nacchio later disputes the claim.
Your credit card is NOT left on the server for a long period of time. Within hours your credit card information is downloaded through a secure connection to our secure corporate computers and then deleted off the web site servers. Our server hardware is housed with Qwest in a secure underground facility. To even gain entry you must pass through a security gate and show your pass and identification. Security cameras and officers monitor this area 24 hours a day, 7 days a week, 365 days a year.
Laptop Computers 2002:
laptop computers is driving strong sales for notebook computers, according to the latest quarterly sales figures from the research firm IDC, which reported a 37% computer sales for the second quarter, compared with a year earlier. In the U.S., laptop sales grew 17.7%, while sales of desktop computers and servers fell 4%. The New York Times ( 10), CNET ( 10)
Laptop Computer --Feb. 11: Qwest cooperates with government subpoena concerning its swap of fiber-optic network capacity with Global Crossing Ltd.
"Computer industry analysts estimate that some 60 percent of all corporate data exists only on desktop and laptop computers, " said Walter Scott, CEO of Acronis. "Incorporating Acronis True Image with New Mexico Software backup server is the ideal solution to capture that corporate data and ensure that it is not lost. While traditional server backups are effective for protecting server data, every company should have a combination of server and workstation backup plans."
Desktop Computer --April 4: Qwest says SEC has begun formal inquiry into its accounting practices.
Notebooks --June 16: Nacchio resigns as chairman and CEO.
Lenovo --July 10: Justice Department confirms criminal investigation of Qwest.
Hard Drive --July 29: Qwest says it will restate 2000 and 2001 earnings.
Travelstar --Aug. 20: Qwest avoids bankruptcy with sale of its yellow pages business for more than $7 billion.
Gateway --Sept. 22: Qwest reverses $950 million in revenue from fiber-optic capacity swaps.
Laptop Parts --Oct. 29: Qwest says it will restate $531 million in improperly recognized revenue and take nearly $11 billion in charges for reduced value of telephone and fiber-optic networks.
Software --Nov. 15: Qwest says it will erase $358 million in earnings for 2000 and 2001.
Hard Drives 2003:
Electronics --Feb. 11: Qwest lowers 2000 and 2001 revenue by $2.2 billion, and later reports a $35.9 billion loss for 2002.
Canon --Feb. 25: Four former Qwest executives indicted on conspiracy and securities fraud charges.
Desktop Pc --Aug. 28: Chief Financial Officer Robin Szeliga leaves the company.
Desktop Computers --Oct. 16: Qwest files restated earnings for 2000 and 2001; total revenue erased is $2.54 billion.
Think Pad 2004:
Repair --Feb. 23: Trial begins of former executives Grant Graham, Thomas Hall, John Walker and Bryan Treadway on securities fraud, wire fraud and other charges tied to a Qwest contract to provide Internet services to Arizona schools.
Data Recovery --April 16: Walker and Treadway cleared on all charges. Jury acquits Graham on three charges, deadlocks on remaining eight. Deadlocks on all 11 charges against Hall.
Cisco --May 28: Graham pleads guilty to felony accessory after the fact to wire fraud and agrees to help prosecutors.
Keyboard --Sept. 17: Hall agrees to plead guilty to single misdemeanor count of falsifying documents.
Monitor 2005:
Desktop --Feb. 18: Marc Weisberg, a former senior vice president, indicted on wire fraud and money laundering charges.
Infosys --March 15: SEC charges Nacchio, Szeliga, former CFO Robert Woodruff and four other former executives with orchestrating a massive financial fraud between 1999 and 2002.
Refurbished Laptops --June 2: Justice Department charges Szeliga with insider trading. She reaches a plea agreement and will cooperate with prosecutors.
Wipro --June 3: Szeliga reaches agreement to settle civil fraud charges filed by the SEC. Terms were not disclosed.
Lap Top --July 14: Szeliga pleads guilty to a single count of insider trading and agrees to cooperate with prosecutors and the SEC.
Refurbished --July 27: A magistrate delays the evidence exchange process in the SEC's civil case against former Qwest executives to give the government more time for its criminal investigation.
Memory --Sept. 7: A federal judge approves a $2.1 million civil settlement for former Qwest executive Gregory Casey who was charged with participating in a conspiracy. He did not admit wrongdoing and agreed to cooperate with federal investigators. He was the first defendant to reach a final settlement in the SEC case.
Intel --Nov. 1: Qwest announces a tentative $400 million settlement of shareholder lawsuits stemming from the accounting scandal. It would resolve claims against the company, some former executives and its board of directors -- but not Nacchio and Woodruff.
As400 --Dec. 20: Federal grand jury indicts Nacchio on 42 counts of insider trading. He pleads not guilty.
Averatec --Dec. 28: Weisberg pleads guilty to single count of wire fraud, agrees to cooperate with prosecutors.
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