Next Up: The $2 Billion Man

By Michael Weisskopf Sunday, Oct. 06, 2002
    • Phil Anschutz, the billionaire founder and former chairman of Qwest Communications, could be the next corporate chieftain forced into the congressional spotlight on boardroom greed. Anschutz has thus far avoided a hearing by privately convincing investigators he had no role in his company's day-to-day operations — including deals in which the Denver telephone company allegedly booked phantom revenue. But Qwest's ex-CEO Joseph Nacchio, in little-noticed testimony last week before the House Energy and Commerce Committee, said he had consulted Anschutz on all major decisions. Now committee staff members plan to question Anschutz again on the deals, and if Democrats get their way, on his sale of $2 billion in Qwest stock before it cratered — twice as big a haul as that of any other corporate insider. The committee's renewed interest may quiet suspicions that Anschutz's Republican ties — he is a major G.O.P. donor — have shielded him until now. Says committee spokesman Ken Johnson: "If you're a corporate crook, Democrat or Republican, we're going to kneecap you in public." Anschutz's lawyers declined comment.