Business Services Industry
Qwest Shareholders, Customers Gain New Source for Info on Mounting Problems at Qwest; Launch of InsideQwest.org by SEIU
Business Wire, August 31, 2004
WASHINGTON -- With problems mounting at Qwest Communications International Inc. (NYSE:Q), customers and shareholders of the telecommunications giant are gaining a new, independent source for clear and timely information on what is happening inside the company. InsideQwest.org, a new website launched today by SEIU, is a new investor and consumer service providing updates and analysis on the crisis at Qwest, along with access to relevant documents and news stories.
InsideQwest.org will serve as an information clearinghouse of government and court documents, news reports, and other consumer information affecting Qwest investors, customers, and employees.
InsideQwest.org will feature information on allegations against Qwest of unlawful business practices. The website also will feature information about:
--Department of Justice and SEC investigations and litigation concerning Qwest;
--Shareholder lawsuits brought by major public pension funds, accusing Qwest of fraud;
--Actions taken by state and federal regulators against Qwest for customer service abuses and anti-competitive practices; and
--The U.S. Government's General Services Administration review of Qwest to determine if the company should be barred from receiving federal contracts.
InsideQwest.org is produced by the Service Employees International Union (SEIU). More than 700,000 public sector employees are members of SEIU across the United States. Many of these employees have retirement benefits through public pension funds (such as CalPERS and the New York Common Retirement Fund) that hold large positions in Qwest Communications International, Inc. As a member organization, SEIU also is concerned about ensuring reliable and fairly-priced telecommunications services for union members who live and work in Qwest's 14-state service area.
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