NY PUC is the most demanding in the US and NY has been unprofitable forever. Add in costs of doing business, competitive environment, technology shift, etc and you arrive at the conclusion that VZ couldn't GIVE its remaining LEC business away. NY Bell, NyNex, BA, and VZ have been on a harvest strategy with it for at least 20 years....that's minimal investment, cut costs at every chance, squeeze useful life out of plant and assets, suppress worker costs, and raise prices as much the PUC will tolerate. Seriously, VZ is saddled with it, it would be of monumental complexity to take over, and it's no one's vision of strategic value. For the union, this means negotiating with a company who might value the workers' skills but doesn't value the business those workers support.
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Someone previously mentioned google. Was that actual intel or just more random layoff.com bs?
Be careful of what you ask for.
Some of the companies looking to buy all or parts of wireline, are worse then VZ.
I know the devil is in the details, but overall, this looks good.
You will not do better then before, wireline is dropping, and so does employment, and power.
5G, is coming, and it may hurt employment in the future.
Not sure who can buy wireline, Frontier, has too much debt, Centurylink, does not have the money.
Comcrap, or other cable companies, would not be approved.
off-shore, companies, cannot acquire VES due to the Fed contracts.
Other ideas?
Without question they are right-shaping this company for a sale, that has been evident for quite some time with many of the moves they've made if one has been barely watching. It is material information so obviously we cannot be told that is what they are doing. Frontier does not have the highest rating for employer of the year either. They are all one in the same. VZ is just doing this dirty deed for them to be the bad guy.
I'm 100% behind a sale to Frontier. The knuckleheads steering the ship now are about to crash into the rocks and I don't want to be onboard when they go out MCI style.
Myself..change energizes right..