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BUSINESS
December 12, 2006 | From Bloomberg News
Verizon Communications Inc. said that President Lawrence Babbio would retire by the end of the first quarter. Babbio, 62, has been with Verizon and its predecessor companies for 41 years. He is responsible for Verizon Telecom and Verizon Business, two of its main networking businesses.
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BUSINESS
September 2, 2013 | By Walter Hamilton
In one of the largest deals in global corporate history, Verizon Communications Inc. agreed to pay $130 billion to buy Vodafone Group's 45% stake in Verizon Wireless and take full control of the nation's top wireless carrier. In an era of ubiquitous cellular service and fast-rising use of smartphones, Verizon was eager to take hold of a business with big challenges but equally significant potential. Despite heavy competition and slowing subscriber growth, the wireless business is expected to be paced in coming years by growing demand for video and other premium services.
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BUSINESS
March 23, 2001 | Bloomberg News
Verizon Communications Inc. was ordered to run separate units for wholesale and individual customers in Pennsylvania, a move that spares the largest local U.S. phone company from a costly breakup. The Pennsylvania Public Utility Commission adopted a plan letting Verizon remain intact in exchange for treating rivals leasing its lines the same way it treats its own retail business. If the company rejects the order, a full breakup might be required, the agency said.
BUSINESS
December 12, 2006 | From Bloomberg News
Verizon Communications Inc. said that President Lawrence Babbio would retire by the end of the first quarter. Babbio, 62, has been with Verizon and its predecessor companies for 41 years. He is responsible for Verizon Telecom and Verizon Business, two of its main networking businesses.
BUSINESS
September 2, 2013 | By Walter Hamilton
In one of the largest deals in global corporate history, Verizon Communications Inc. agreed to pay $130 billion to buy Vodafone Group's 45% stake in Verizon Wireless and take full control of the nation's top wireless carrier. In an era of ubiquitous cellular service and fast-rising use of smartphones, Verizon was eager to take hold of a business with big challenges but equally significant potential. Despite heavy competition and slowing subscriber growth, the wireless business is expected to be paced in coming years by growing demand for video and other premium services.
BUSINESS
February 22, 2001 | Times Wire Services
The Justice Department said it has lingering doubts that Verizon Communications Inc. has met the 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
February 8, 2001 | From Times Wire Services
Verizon Communications Inc. said it expects to cut the equivalent of 10,000 jobs this year, mostly by not filling vacancies and cutting overtime and the use of contractors. But some layoffs are possible at the nation's largest local phone company. The reduction in Verizon's core phone operations is part of an ongoing effort to cut positions duplicated by last year's purchase of GTE and meet the cost-savings goals made possible by that merger, a spokesman said Wednesday.
BUSINESS
August 1, 2001 | From Bloomberg News and Reuters
Verizon Communications Inc. reported second-quarter profit in line with expectations Monday but cut its forecast for the full year because businesses are ordering fewer phone lines amid a slowing economy. The nation's largest telephone company now expects per-share earnings of $3.07 to $3.12 for fiscal 2001, less than the $3.13 to $3.17 it forecast earlier, spokesman Peter Thonis said. Sales are expected to grow about 5% to 6%, down from the 7% growth forecast in April.
BUSINESS
February 26, 2001 | ELIZABETH DOUGLASS, TIMES STAFF WRITER
More than three years after introducing the nation's first all-in-one phone plans, a unit of Verizon Communications is pulling the plug on the offering, forcing 370,000 consumers nationwide to switch their local and long-distance service to less attractive options. The plans, which offered local and long-distance phone service for a flat monthly fee, were originally touted as a groundbreaking effort to simplify phone service and spur competition in local markets.
BUSINESS
August 17, 2008 | David Colker, Times Staff Writer
When it comes to choosing broadband Internet providers, you can't always get what you want. But with certain limitations, you can get what you need. If you use the Internet regularly, chances are you already have broadband -- that is, a high-speed hookup, usually through your cable television provider or phone company. But are you getting it at the right speed and right price? There are more choices than ever, even though you typically have to go with a provider that serves your neighborhood.
BUSINESS
August 1, 2001 | From Bloomberg News and Reuters
Verizon Communications Inc. reported second-quarter profit in line with expectations Monday but cut its forecast for the full year because businesses are ordering fewer phone lines amid a slowing economy. The nation's largest telephone company now expects per-share earnings of $3.07 to $3.12 for fiscal 2001, less than the $3.13 to $3.17 it forecast earlier, spokesman Peter Thonis said. Sales are expected to grow about 5% to 6%, down from the 7% growth forecast in April.
BUSINESS
March 23, 2001 | Bloomberg News
Verizon Communications Inc. was ordered to run separate units for wholesale and individual customers in Pennsylvania, a move that spares the largest local U.S. phone company from a costly breakup. The Pennsylvania Public Utility Commission adopted a plan letting Verizon remain intact in exchange for treating rivals leasing its lines the same way it treats its own retail business. If the company rejects the order, a full breakup might be required, the agency said.
BUSINESS
February 26, 2001 | ELIZABETH DOUGLASS, TIMES STAFF WRITER
More than three years after introducing the nation's first all-in-one phone plans, a unit of Verizon Communications is pulling the plug on the offering, forcing 370,000 consumers nationwide to switch their local and long-distance service to less attractive options. The plans, which offered local and long-distance phone service for a flat monthly fee, were originally touted as a groundbreaking effort to simplify phone service and spur competition in local markets.
BUSINESS
February 22, 2001 | Times Wire Services
The Justice Department said it has lingering doubts that Verizon Communications Inc. has met the 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
February 8, 2001 | From Times Wire Services
Verizon Communications Inc. said it expects to cut the equivalent of 10,000 jobs this year, mostly by not filling vacancies and cutting overtime and the use of contractors. But some layoffs are possible at the nation's largest local phone company. The reduction in Verizon's core phone operations is part of an ongoing effort to cut positions duplicated by last year's purchase of GTE and meet the cost-savings goals made possible by that merger, a spokesman said Wednesday.
BUSINESS
June 6, 2003 | From Bloomberg News
Verizon Communications Inc. and other large U.S. telephone companies told federal regulators they oppose most new rules being developed to limit "slamming," or unauthorized switches of a customer's phone carrier. The Federal Communications Commission's proposed guidelines requiring more stringent verification of requests to change phone service providers would confuse consumers and add costs, Verizon, SBC Communications Inc., AT&T Corp. and rivals said in comments filed with the FCC.
BUSINESS
February 8, 2008 | From Times Wire Services
Verizon Communications Inc. sued Charter Communications Inc., claiming infringement of eight patents for providing telephone services on a data network. Charter, the suburban St. Louis-based cable TV company should pay cash compensation for using the inventions without permission, New York-based Verizon said in a complaint filed Feb. 5 in federal court in Texarkana, Texas.
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