Qwest to restate 2000 2001 earnings amid errors
Denver Qwest Communications International Inc reports accounting errors in 2000 and 2001 after an internal analysis. By Monday morning the stock fell 34 cuts or 23 percent to $1.16 on the NYSE. The firm hired KPMG LLP to review books after dismissing Arthur Andersen amid Enron ties. The company will miss the SEC certification deadline and aims to publish second-quarter results August 8, with restatement to follow over months.
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Oklahoma bridge reopens after deadly collapse ceremony
The Webbers Falls bridge on Interstate 40 reopened ahead of schedule after a towboat collision caused a 500 foot span to collapse, killing 14 people. A memorial ceremony with a moment of silence featured a color guard lowering flags to half staff before restoring them. Traffic detours rerouted up to 17,000 vehicles daily as crews repaired the Arkansas River crossing.
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