Barring 11th-Hour Reprieve, Nacchio to Report to Prison Tuesday
When we last used our waterfall metaphor in regard to Joe Nacchio, the former Qwest (Q) CEO convicted two years ago on insider-trading charges, an inquiring reader asked if we’d bring Nacchio back up the fall if and when the Supreme Court reversed his conviction. Our answer: absolutely. We’ll airlift him back and deposit him safely on the riverbank, well out of harm’s way. We might also give him a blanket and a picnic basket stuffed with goodies.
But for now, things don’t look so good. His fall is about to begin. On Monday, the Tenth Circuit denied his request for bail pending the Supreme Court’s decision on whether to take up his case. Barring an eleventh-hour reprieve Tuesday morning from Supreme Court Justice Stephen Breyer, who oversees the Tenth Circuit, Nacchio will report to prison later today.