The entire clan is made of ppl with finance background. No one, but Lowell has a clue about the Industry we serve and this is a huge problem when it comes to innovation. They view employees as a chunk of expense, and any investment has to be guaranteed 100% with massive profit margins. In the end this group will sell wireline for a dime because they think wireless is the only cash cow they got!!!!!!!
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Board of Directors could have given Lowell their blessings for all his actions. What he is doing is not new, sad VZ is the victim this time around.
But if it is not where you want to be, then you sell it for what it is worth and use the cash to help get you to where you want to be. If it is profitable, then you get more for it. Continuing to hang onto an asset that isn't part of your core strategy is not smart because it pulls you away from your strategy, requires capital expenditures, and in wireline's case also has the union millstone around its neck that continues to soak up cost like we were still some monopoly that could just pass the costs onto the customer. Times have changed.
Lowell doesn't even have a clue and he'll be joining me soon in South America!
But you dont get rid of asset that gives you upperhand, still making record profits and growth. There is nothing close to Fios in the Eastern region and it allows to block threats of new entrants to the market. You get rid of fios, you welcome more competition
It's a matter of strategic direction. There are those companies out there whose bread and butter is what wireline provides. Maybe they can do it better, cheaper, whatever. Verizon may not wish to play in that sandbox anymore. I really don't know but if that is the case, then it may be best to unload it so you can focus on what you want to focus on.