Business briefs: Notebaert to retire

Richard Notebaert, the chairman and CEO, who pulled a troubled Qwest Communications International Inc. (Q) from the brink of bankruptcy amid an accounting scandal, announced plans to retire. Notebaert, 59, said he will leave the Denver company after the board of directors selects a replacement. Businessman Philip Anschutz, a stockholder in Qwest, owns The Examiner’s parent company.

Stephen Schwarzman

Private-equity powerhouse Blackstone Group LP said Monday that its chief executive made $400 million in 2006 — almost double the combined compensation for the CEOs of Wall Street’s five biggest investment banks. Schwarzman, 60, will lead the New York-based firm to the highly anticipated initial public offering of its management company within the next few weeks.

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