Former Qwest CEO Joe Nacchio’s trial
Re: “Felon Nacchio,” April 20 news story.
After a week of very disturbing and sad news, we finally had some good news: Joe Nacchio is a convicted felon. It took a lot of effort to run the former Mountain Bell and US West company into the ground, but once Qwest merged with this once proud and prosperous company, things rapidly changed. In just a few short years, the stock plunged from over $60 a share to a little over $1. While Nacchio was able to sell his options anytime he wished, Qwest workers who he had convinced the company was sound were blocked from selling any of theirs. Many workers and retirees lost their entire life’s savings in their retirement accounts.
Nacchio must have thought he got away with it until count No. 24 was read. He was found guilty on the last 19 counts, on which he reaped $52 million in ill-gotten gains. Judge Edward Nottingham, who managed this case well, should force Nacchio to write personal checks and an apology letter to every Qwest employee who lost his shirt due to Nacchio’s arrogance and criminal mismanagement.
One can only hope that the Securities and Exchange Commission takes any of his remaining assets to give back to the investors Nacchio lied to, but this is a nice start.
John S. Spencer, Fort Collins
. . .
Joe Nacchio’s predicament has led me to thinking about another great American thief, Willie Sutton. The similarities are obvious, though Mr. Nacchio’s crimes resulted in much more hurt to individuals and society than did Mr. Sutton’s. It should be pointed out that neither of these men ever shot a gun as they went about their business. Mr. Sutton, in fact, pointed out that his gun was never loaded, as guns hurt people. And the money he took was guaranteed by the federal government. The same cannot be said for the value of Qwest stock, which sucked a well-earned, comfortable retirement from the grasp of countless Qwest and former US West employees.
Should Mr. Nacchio be fined a total of $19 million for the 19 guilty counts, and forfeit the $52 million he garnered as the result of his stock sales, he will still be sitting pretty compared to those he left behind. It would be more appropriate if we, the taxpayers, let the man keep his money and instead assume the cost of his room and board for the next several years.
Doug Cramer, Westminster
. . .
Where was the Qwest board of directors when the robbery was going on? It seems like there are lots of companies that get looted while the board members sit idly by with their heads buried.
Frederick C. Sage, Boulder
. . .
Re: “For trial that seemed to be a tossup, all the breaks went against Nacchio,” April 20 legal analysis.
It was of interest to me that no less than Anthony Accetta, former assistant U.S. attorney and your legal analyst, observed in his column about prosecution of the Nacchio case that “a true professional does not gloat at a time like this,” while on the very same page you featured a quarter-page picture of the three case prosecutors publicly gloating, almost to the point of caricature, at a press podium. The Nacchio case will entail rigorous appeal procedures, and the final outcome in his case is certainly not known today.
Peter Ehrlich, Denver
. . .
After reading the many articles in The Post and the Rocky by experts critiquing and evaluating the performances of the prosecution and the defense attorneys and how the jury might respond to them, I kept thinking there is really only one thing known for certain to anyone who has ever tried a jury case: Even when you have been there throughout the trial, when the jury goes out, you will not know what they will do until they come back in.
Robert Pierce, Lakewood
Vermont state senators’ call for impeachment
I call for the impeachment of all 16 Vermont state senators who voted to call for the impeachment of President Bush and Vice President Cheney. Their action is nothing less than a call for a government coup, in that their charges are bogus and entirely associated with political differences, not “high crimes and misdemeanors.” Elections are the way we change governments in this country, not impeachment proceedings. Their proposal to use the impeachment provisions of the Constitution to change our government, instead of elections, is an affront to constitutional democracy. They no longer deserve to be afforded the opportunity to serve in their capacity because their actions raise serious questions of constitutionality, statutory legality, and abuse of the public trust.
R. Barry Crook, Aspen
The high-dollar auction for the presidency
As one can see daily in the local and national press, the presidential elections are already very much an omnipresent subject of general interest to all. It is truly amazing to observe the amount of money raised by some candidates, more than a year before the actual event. Many political experts expect that this will be the first billion-dollar presidential election. It has truly become a situation in which money, and money alone, buys the presidency.
Would it not be simpler, faster and in many ways more honest to just organize an auction in which the presidency would be awarded to the highest bidder? All the income from all bidders would be placed into the government’s treasury, helping reduce the national debt.
With such a method, the general public would indeed feel a temporary sense of profit before the successful bidder takes office and begins, as usual, to drain the coffers to special interests.
Henri E. Stetter, Steamboat Springs
Debating Columbus
Re: “Columbus should be celebrated,” April 20 guest commentary.
I wish to comment on one point in David Sprecace’s defense of Christopher Columbus.
It is popular but unhistorical to say Columbus proved the Earth was not flat. Going all the way back to the Greeks, scientists knew the Earth was round, including scientists of Columbus’ time. Just to cite one example, 15th century astronomers understood that lunar eclipses were caused by the Earth’s shadow, and the shadow on the moon was clearly curved. Even some of Columbus’ sailors understood the Earth to be round. The sailors weren’t afraid of falling off the edge of the Earth; they were afraid of traveling thousands of miles in unknown waters with no end in sight.
Columbus may be credited (or blamed) for all sorts of historical events. Proving the Earth was round is not one of them.
Peter Gross, Denver
Misplaced blame?
Re: “Church plans to protest services of victims,” April 20 news story.
So, Fred Phelps believes the Virginia Tech massacre was God’s punishment for America’s tolerance of homosexuals? Well, if by tolerance he means 1) a pervasive social climate of derision and disapproval of having homosexual feelings; 2) general disdain for showing public displays of affection between members of the same sex; 3) potential beatings and possible death at the hands of strangers for being out and open with one’s sexuality; and 4) nationwide legal prohibitions on recognizing same-sex relationships, then America’s darn more tolerant than I thought it was.
As we collectively ponder the deadly motivations of Seung-Hui Cho and his manifesto of alleged taunts and abuses by his fellow students, we should give thanks that none of the millions of gays, lesbians and bisexuals among us doesn’t mentally snap, pick up a gun and violently lash out at a society that denigrates their humanity on a daily basis – in word, deed and law.
William Autrey, Boulder
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