Friday, March 16, 2007
The WSJ's front page highlights the inside trading trial of Joseph Nacchio, formerly of Qwest Communications, set to begin next week in Denver. The government charges him with selling over $100 million worth of Qwest stock before the company's financial troubles were publicly known. Nacchio's defense is that he had classified information that Qwest would likely get big national security-related contracts and had no reason to think the corporation would do poorly. See WSJ, Ex-Telecom CEO Fields 'Black Box' Trial Defense.