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Verizon Communications Company

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BUSINESS
July 7, 2000 | From Staff and Wire Reports
Verizon Communications, the company formed last week by the merger between GTE and Bell Atlantic, cut the price for its high-speed Internet service by 20% for East Coast customers to better compete with cable providers offering a similar product. The Personal Infospeed DSL service from Bell Atlantic now costs $39.95, down from $49.95, in 12 northeastern and mid-Atlantic states and the District of Columbia.
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BUSINESS
January 27, 2009 | bloomberg news
Verizon Communications Inc. and AT&T Inc., the largest U.S. phone companies, are losing some cellular customers to carriers that don't require contracts, as the recession forces consumers to seek cheaper calling options. More than half of MetroPCS Communications Inc.'s new users, for instance, came from bigger nationwide phone companies in the fourth quarter, Chief Financial Officer Braxton Carter said.
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BUSINESS
August 14, 2000 | ELIZABETH DOUGLASS, TIMES STAFF WRITER
The seat underneath Ivan Seidenberg is a hot one. Seidenberg is president and co-chief executive of Verizon Communications, a company with $60 billion in 1999 revenue and the nation's largest local phone company, with operations stretching from the company's New York headquarters to West Los Angeles. Verizon also has a presence in 39 countries around the world. That makes him a very busy man.
BUSINESS
August 4, 2008 | From the Associated Press
Verizon Communications Inc. and two unions representing some 65,000 of its workers remained in talks after agreeing to "stop the clock" on contracts that were set to expire late Sunday. The New York-based company expects "business as usual" today as talks continue, said Verizon spokesman Eric Rabe. He said there was no deadline set for reaching a deal. Major bargaining issues include healthcare coverage for employees and retirees, wages and union representation for new job areas.
BUSINESS
January 20, 2005 | James S. Granelli, Times Staff Writer
As the nation's biggest telephone company, Verizon Communications Inc. has wrestled with growing competition from cable operators, a slowdown in its conventional land-line business, costly network upgrades and a weakened stock price. Now, some Wall Street analysts are questioning the rapidly rising amount of money Verizon could owe Uncle Sam. For years, Verizon has deferred certain taxes, helping the company's financial statements look rock solid.
BUSINESS
January 29, 2001 | From Reuters
Horror stories about airline delays are quickly being replaced with agonizing tales about installing high-speed Internet service, and some consumers are taking their complaints to court. A lawsuit filed against Verizon Communications this month alleged that the company misled consumers about the quality and availability of its high-speed, always-on digital subscriber line (DSL) service and failed to tell potential customers of service and installation problems.
BUSINESS
January 27, 2009 | bloomberg news
Verizon Communications Inc. and AT&T Inc., the largest U.S. phone companies, are losing some cellular customers to carriers that don't require contracts, as the recession forces consumers to seek cheaper calling options. More than half of MetroPCS Communications Inc.'s new users, for instance, came from bigger nationwide phone companies in the fourth quarter, Chief Financial Officer Braxton Carter said.
BUSINESS
February 22, 2001 | Times Wire Services
The Justice Department said it has lingering doubts that Verizon Communications Inc. has met federal requirements to provide long-distance telephone service to local customers in Massachusetts. The antitrust authority urged the Federal Communications Commission, which will have final say on Verizon's application, to weigh the full record when ruling on the application.
BUSINESS
April 24, 2001 | Reuters
Verizon Communications said it is seeking permission from the Federal Communications Commission to offer long-distance phone service in Connecticut. Before it can offer long distance in its home territory, Verizon, like the other Baby Bell companies, must prove to regulators that it has opened its local networks to competitors. The Connecticut Department of Public Utility Control determined April 11 that Verizon met requirements in that state.
BUSINESS
August 16, 2005 | From Bloomberg News
Verizon Communications Inc. said it might cut its $8.46-billion purchase price for MCI Inc. by as much as $69.2 million if MCI's liabilities rise above an agreed-on amount. If MCI spends more than $1.78 billion to settle bankruptcy claims and tax liabilities from Jan. 1 to when the merger closes, the purchase price will fall as much as 21 cents a share, New York-based Verizon said in a filing with the Securities and Exchange Commission. MCI estimated that those costs would be $1.
BUSINESS
July 29, 2008 | From Times Wire Services
Verizon Communications Inc.'s second-quarter earnings rose 12%, the company said Monday, while revenue was slightly shy of expectations and customers disconnected their land lines faster than before. The nation's second-largest telecommunications company earned $1.88 billion, or 66 cents a share, in the quarter ended June 30, up from $1.68 billion, or 58 cents, a year earlier. Verizon said that excluding a merger-related item, it earned 67 cents a share, beating the average estimate of analysts polled by Thomson Financial by 2 cents.
BUSINESS
February 8, 2008 | Andrea Chang, Times Staff Writer
Couldn't get to your voice mail at home or work Wednesday or Thursday -- or leave a message on some phones? Neither could any other California customers with voice mail on their Verizon Communications Inc. land lines. A database error in a central server in Ontario froze the software for all 740,000 land-line customers subscribing to Verizon's voice mail early Wednesday, and the state's second-largest telephone company couldn't say late Thursday when the problem would be fixed.
BUSINESS
December 1, 2007 | Jim Puzzanghera and Jessica Guynn, Times Staff Writers
They're the superheroes of the airwaves, invisible signals that can carry data faster than a speeding bullet, powerful enough to penetrate the thickest walls of homes and office buildings, able to leap long distances between transmission towers in a single bound. The federal government's decision to auction off this prime public spectrum next month could change the wireless world.
BUSINESS
November 21, 2007 | From Times Wire Services
Verizon Communications Inc. plans to raise the subscription price of its advanced video service called FiOS, reflecting the high cost of programming as well as building an all-fiber network. A Verizon spokesman said the "FiOS Premier" television subscription price would be raised by $5 to $47.99 a month for new subscribers starting in 2008.
BUSINESS
November 2, 2007 | From Times Wire Services
Verizon Communications Inc. said Thursday that it would hold a vote each year for investors to weigh in on executive pay, the second time a U.S. company has allowed such a measure. The advisory vote will begin in 2009, New York-based Verizon said. Shareholders passed a proposal in May calling on the company to adopt such a measure. Verizon, which paid Chief Executive Ivan Seidenberg $21.3 million last year, has been one of the main targets of labor groups seeking to rein in compensation.
BUSINESS
October 30, 2007 | From the Associated Press
Verizon Communications Inc. on Monday reported third-quarter earnings that were largely in line with expectations, reflecting steady growth in its wireless operations and a slow decline in its wired telephone business. The nation's second-largest telecommunications company earned $1.27 billion, or 44 cents a share, in the July-September period, down 34% from $1.92 billion, or 66 cents, a year earlier. Revenue increased 5.8% to $23.8 billion.
BUSINESS
April 5, 2005 | From Associated Press
Verizon Communications Inc. threatened Monday to abandon its $7.5-billion buyout offer for MCI Inc. rather than pay more should the long-distance telephone company declare a rival $8.9-billion offer from Qwest Communications International Inc. as superior. Shares of Ashburn, Va.-based MCI fell after the announcement, which came one day before a deadline set by Qwest for MCI to accept or reject its bid.
BUSINESS
March 17, 2005 | From Associated Press
Qwest Communications International Inc. is raising its bid for MCI Inc. by nearly half a billion dollars in hopes of scuttling the long-distance phone company's merger with Verizon Communications Inc., a source familiar with Qwest's plans said Wednesday. All three companies declined to comment on the sweetened offer, said to be worth $8.5 billion -- about $1.8 billion more than the current value of the Verizon deal.
BUSINESS
October 26, 2007 | From the Associated Press
Vonage Holdings Corp., the beleaguered provider of Internet-based telephone service, said Thursday that it had settled a patent lawsuit brought by Verizon Communications Inc. for a maximum of $120 million. The lawsuit, along with two filed by other phone companies, had cast a heavy shadow over Vonage's future. The company's service enables subscribers to connect their phones to their broadband connections for about $25 a month using a Vonage adapter.
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