Verizon Communications Inc. (VZ) last week saw its shares tumble by 2.84% to maintain its position as the worst-performing stock among the 30 equities included in the Dow Jones Industrial Average. For the year to date, Verizon's shares are down 13.99%.
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$130B to buyout Vodafone at the maximal value possible. The yield on the bonds was over 5% - well above the treasury rate. The interest alone is $6B a year and there's no way they can pay them back with the current earnings trends. So that means they've have to float new bonds to pay off the old ones at higher interest.
And what did Verizon get for this? Declining net income in a saturated market, leadership that doesn't know what to do, and what they have done (i.e., Go90, Hum) have been lackluster to say the least.
Thanks Lowell.
Wireless mgmt/leadership is bad, because they can't figure out how to get from under all the debt, no growth, & useless copper and infrastructure on the wireline side. They have no good ideas, and the wireless network quality had been carrying them for the past 10 years so they got away with it. And the $20M exec salaries ain't helping either
Now the ceo is exposed and basically begging for comcast or Disney to make him an offer he can't refuse. Some strategy
All you haters out there,dont hate union members cause they still get decent benefits and you don't,if you hate the company yhat you work for then leave and move on with your higher education ,move on
@hky
I count my blessings everyday, all hundreds of thousands of them, my pension. Move on young man, you will not have a future here.
@N2Jm4mG-1ppu Your Ignorance here is on full display.....I only hope your function in Verizon ( and you do work for Verizon you complete fool ) is that of sweeping the bathroom floors because that's all you should be doing.
No need to reply have a great day at "work" tomorrow stealing Verizon's money.
This company looks like its full of cry babies on all sides but mostly on their wireless,,looks like your company is crumbling from a great company 20 years ago to a company that has no direction and is full of debt,the next enron i guess ,lets see,even wall st is not saying good thing about your company ,so all you guys and gals should try to get along and stop bashing each other,your company needs to get it together othewise all will fall
1pad
I don't work for this BS company moron .
I have friends that do and I hear all about the inner dealings of this so called Titan of the industry. A handful of the enlightened
Are making big money off the backs of first level managers who bust their a $$'s on a daily basis and get a fraction of what they deserve. Screw the union . You are nothing but delusional self grandizing posers. The Democrat politicians have your union handlers bought and paid for. You lash the cables together and puts the poles in the ground . What would they do without you.Oh yes you join the wires together. Sorry.
"Its the wireless management culture,that came from the GTE side of the company , that has ruined this company,that is the truth"
Again, as a fGTE, we were convinced it was the Bell Atlantic culture that ruined the company. After all, Ivan became sole CEO. Who in the top ranks now comes from GTE?
@N2Jm4mG-1ixh I think you need to find another place to work. If you are so unhappy with Verizon and the Union why don't you just Quit. But you won't because no one else will employee you, and no one else will pay you what Verizon pays you especially for what you do all day.
It's cry baby's like you that have stepped in Sh!t and were hired by Verizon mistakenly. They should have sent your lazy body over to Home Depot collecting carts in the parking lot where you belong.
Count your blessing everyday moron that you even have a job with Verizon and a Union before you bite the hand that literally feeds you. I'll say it again Quit or count your blessing moron.
@N2Jm4mG-1mqh I think you need to find another place to work. If you are so unhappy with Verizon and the Union why don't you just Quit. But you won't because no one else will employee you, and no one else will pay you what Verizon pays you especially for what you do all day.
It's cry baby's like you that have stepped in Sh!t and were hired by Verizon mistakenly. They should have sent your lazy body over to Home Depot collecting carts in the parking lot where you belong.
Count your blessing everyday moron that you even have a job with Verizon and a Union before you bite the hand that literally feeds you. I'll say it again Quit or count your blessing moron.
Its the wireless management culture,that came from the GTE side of the company , that has ruined this company,that is the truth
Business schools could use this company as an example of what not to do.
The Union ? Ha ha ! You mean the same union that has sold its newer members down the river for the benefit of the older tenured members ?That union ? What a company ! The union , along with the scum that run Verizon, kept giving the union pay raises and funding pensions while the same time freezing mgmt pensions and limiting pay raises for a decade ! Riffing the so called underachievers and never replacing them only to dump the work on The remaining people ! The very people that are more dedicated on a daily basis then a bunch of people trying to squeeze another hour of OT into the day. This bloated barge is crumbling from within with cronyism and ego maniacs who are out to skim as much money before she goes down ! The end is when Wireless started running the show. You idiots couldn't engineer your way out of a wet paper bag .
What goals does the union meet exactly? Seems like more union employees than not are waiting for an EISP. Doesn't sound like success to me.
Worst performing stock and the same clueless, stale, arrogant leadership remains. Amazing.
Interesting that the only entity in Verizon that actually performs its function well and meets its own goals every year without fail.....The Union.
Maybe the executives and the leaders at Big Red should do a ride along with the Union leaders and pick up a few pointers and tips on how to run a business.
You have to hand it to them, they run like a finely tuned machine and when they go head to head with VZ on a huge miscalculation on Verizon's part........That's where you see the difference in leadership.