Clock's Ticking at Qwest

Qwest (Q Quote) says a small new loan from its lead bank will get it through a short-term cash crunch.

That's fine, say investors, but that short-term cash crunch is far from anyone's greatest worry right now. Yes, Qwest must generate more cash in coming months, either from lenders or through sales of various assets. That remains a constant.

But even after a detailed presentation Thursday, Qwest failed to quiet Wall Street's larger questions about what shape the company will take in coming months as an avalanche of debt-service obligations falls on its Denver headquarters.

Despite promises to set its house in order, Qwest moved no closer Thursday to the kind of financial clarity that investors crave, as the clock continues to tick against the sagging telecom industry. Qwest rose 7 cents Thursday to $1.27.

Lining Up

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