kqo - do you have any idea about how much debt Verizon has?
According to Yahoo it is now about $110,000,000,000
You can't pay any serious amount of that off with a sale of some of the NYNEX properties. Plus the company always has seems to magically pi$$ away money on stupid investments like telematics, aol, go90 and hum to name a few.
Fair point bought Maine nuff said. We will be sold, my guess within 2 years.
That's the rumor going around at Frontier, VZ East is the next to go and FrontierI the potiential buyer.
Kqo. U have no idea what you are talking about. Sure no one wants upstate NY but three cities Boston NYC and DC make it extremely attractive. They would have sold everything to Frontier but didn't want to get tied up in the courts so went with a quick sale. BTW Texas was in dreadful shape.
ZYY you forgot about the pension obligation too. That is the other reason some of these properties could never sell. The 'smart set' in the 1990's till the Verizon merger in 2000 scammed the pension fund so that now it is underfunded. That is the whole reason that the pensions disappeared for managers. Exec legal malfeasance. GTE and Bell Atlantic had funded their penion plans but NYNEX was underfunded. Now it is time to pay the piper, which is why the execs are crying. But they shouldn't be crying they should be sitting before a congressional committee explaining why there is not enough money to pay for the pensions.
kqo you do not understand. No one will buy what is left. All of the choice properties were sold over the past 15 years. And the company has capital starved what remained because of wireless bias and forays into a lot of investments that never panned out. So the plant that we still own, not only does no one want, but because it is in a poor state, you need some real skill to fix it. If this strike does happen and run for an y length of time, then the company will be forced to invest in it.
It Doesn't matter who won or lost or tied. Now that the contract is settled for 3 yrs. Lowell can sell us, to Frontier and pay down the debt. By the end of this new contract we will cease to have a wireline division at VZ
union will sell out again, its what keeps the dues rolling in, why pay out of that big strike fund, its just like the company raiding the pension fund, the union has enough in its strike fund that they started in 89 to pay all the members from day one but they won't do it because they are as bad as the company.
there is no hope, the union is breaking down, the company will get what they want, security is a thing of the past, pensions don't exist in most places for years and everyone pays health care premiums. So tell me where is the 'hope' that union can manage to cling on to the distant past. Our negotiators have not done much of anything as far as we can tell .......
https://www.youtube.com/watch?v=_WxfjWnuEno
You were played
The negotiators do not have the guts to strike. It's all a sham.
There is still hope that there are some honorable people involved in the negotiations. Doesn't look that way right now, but the unions have never been in a better position to force the execs to clean up their act. So we shall see at 6am if all of us were played by the company and union oligarchs.
The union isn't going to buy the mediator crap. Verizon set the first ultimatum, sign by 5/20 or go on strike. They'll choose the latter
till nothing...