July 6, 2011 |
Verizon Communications Inc. will pay $20 million to settle a U.S. lawsuit over unlawful policies for disabled workers, the Equal Employment Opportunity Commission said in resolving its largest discrimination case. Employees of New York-based Verizon and 24 subsidiaries were disciplined or fired when they needed more time off than allowed by the company's leave policies, according to a statement Wednesday from the commission, which oversees U.S. employment discrimination laws. Verizon, the second-largest U.S. telephone company, had a policy that set a maximum number of absences for employees, the commission said in a statement.
January 28, 2011 |
Verizon Communications Inc. is set to buy Terremark Worldwide Inc., an information technology services company, for $1.4 billion, part of an effort by the wireless carrier to boost its cloud-computing abilities. Verizon offered $19 a share in cash ? a 35% premium over Terremark's closing stock price Thursday of $14.05 a share. Terremark is a Miami-based firm that operates server banks used for Web hosting, cloud computing and IT security services to "some of the world's largest companies and U.S. government agencies" such as BMW and H&R Block.
January 21, 2011 |
Verizon Communications Inc. has taken to federal court its attempt to stop the Federal Communications Commission's controversial new rules to guarantee open Internet access. In a widely expected move, the telecommunications giant told the U.S. Court of Appeals for the District of Columbia that the FCC exceeded its authority when it enacted regulations last month to ensure so-called net neutrality. The regulations forbid owners of high-speed lines and airwaves from favoring their services over competitors'.
October 22, 2010 |
Verizon Communications Inc. reported third-quarter profit that beat analysts' estimates after more customers bought smart phones and signed up for data plans to operate them. Net income at Verizon, which co-owns its mobile-phone business with Vodafone Group, fell to $881 million, or 31 cents a share, from $1.18 billion, or 41 cents, a year earlier. Excluding payments related to its pension fund and charges from sales and acquisitions, profit was 56 cents a share, the New York company said Friday.
August 6, 2010 |
Federal regulators are giving up efforts to negotiate a compromise between Web companies and Internet service providers over so-called net neutrality rules intended to prevent discrimination in the way online traffic is treated. The Federal Communications Commission said Thursday it would no longer try brokering a deal among various phone, cable TV and Internet companies, saying that weeks of talks had not "generated a robust framework to preserve openness and freedom of the Internet."
February 26, 2010 |
When it comes to high-speed Internet access, are you getting what you pay for? Venice resident Mike Mlikotin wanted to know what he was really being offered after Verizon Communications Inc. included a pitch for its broadband service in his most recent phone bill. It said that Mlikotin, 75, could lock in a lifetime rate of as low as $19.99 a month for an online speed of up to 1 megabit per second -- not the fastest clip you'll find on the Net, but plenty fast for most people.