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Qwest Communications International Incorporated chief executive officer and chairman Edward Mueller was among the lucky few to get a raise in 2009. His pay increased by five percent, to $12 million last year, according to The Associated Press [2], despite a weakened economy marked by deteriorating demand for telephone land lines. He also received the raise, a calculation based on a regulatory filing, despite cuts to about 2,800 Qwest jobs, roughly 8.5 percent of the Denver-based company's workforce. Meanwhile, although Qwest uses online social networking, such as Facebook and Twitter, as a marketing tool, it prohibits employees from accessing the sites while in the office, reports the Highlands Ranch Herald [3]. Yet, efforts to cut down on cyberslacking have been hampered by cell phones that allow people to access the Internet. As for Qwest's stock, it jumped 1.55 percent to $5.25 after briefly hitting a new 52-week high yesterday at $5.32. In the last six months, the stock is up over 46 percent (via news release [4]).
Links:
[1] http://www.5280.com/tag/authors/michael-de-yoanna
[2] http://www.google.com/hostednews/ap/article/ALeqM5in95esu7r2uXc80AIMFfdeHtwVMAD9EKF3Q80
[3] http://coloradocommunitynewspapers.com/articles/2010/03/08/highlands_ranch_herald/news/11_biz_cyberslacking_hr.txt
[4] http://www.emailwire.com/release/36875-Top-Communications-Stocks-Trading-Higher-Sprint-Qwest-CSCO-RIMM-SONS.html