So new board chair was on CNBC and spoke about the need to act and why. The story was factually incorrect though- why overly dramatize the doom and gloom? Yes, VZ has had a problematic trend and yes the company needs to alter strategy to address it, however he stated VZ has gone from 1st to 3rd in bond ratings (false, VZ still enjoys better bond ratings than TMO and ATT), market cap (pick the day and T/VZ swap between 2nd and 3rd, so not entirely factually incorrect), and marketshare- additionally share has fallen 30% over the last 8 years (false, share is not down 30% and VZ still has the most wireless customers- assuming that is what he was referencing). Change was/is needed, but the company isn’t failing- the income and cashflow statements are enough to prove that point. As a boardmember, executive, etc the focus is almost universally to drive confidence in the company- highlight successes, vision, strategies for growth, etc so that investors and others see the positive story (even when the true situation is more of a mixed bag). Why go on the largest business network and bash the company you chair with false facts? Either he needs to spend more time understanding the company he chairs, or this is to sandbag and lay the groundwork and justification for an absolutely unthinkable scale of change in the short/intermediate term. The later is unfortunately the likely answer.
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We have now entered into a “manage the message” phase …look at Dan’s first hire…there is now a political machine at Verizon that will look to deflect, distract and manage the media and employees as best it can
Why doesn’t the stock ever grow if the company is healthy? CEOs role is to grow. No increase in our share price and tmus has about doubled in past 5 years.
@a3 The valuation of X has dropped significantly since Musk's purchase. One report placed the valuation at $9.4 billion, a 75% decrease from the $44 billion price tag.
We won’t be selling our way out of debt any time soon . We won’t be downsizing our way out, either . One way out is to be bought by a company bigger and richer then we are .
@OP Hello we are 147 billion in debt and that number will grow once we aquire frontier.you think the company is doing great?
I think it's more of let's cut and cut to see if we (VZ) really need as many FTEs as conventional wisdom says. Musk took over Twitter, cut almost 50% and the lights stayed on (and that was during a HOT job market). In a COLD job market people aren't going to leave and new hires will require less salary. Then throw AI into the mix with its promises of reducing headcount even further.