As part of the federal government’s stimulus package, $4.7 billion dollars have been set aside to bring high-speed internet to areas in which such a luxury has not yet been introduced. However, the deadline to accept the money, August 20, is rapidly approaching, and surprisingly few big-name broadband carriers have stepped up to the plate and taken the money.
 
So far, carriers like AT&T, Verizon, and Comcast have not yet applied to receive any portion of the stimulus money and are not expected to do so, according to the Washington Post. The companies reportedly do not have any need for the …read more

In 2009, Verizon has cut 8,000 jobs. On Monday, Verizon announced that another 8,000 job cuts before the beginning of 2010. The elimination of employees was apparently a reaction to a dip in second quarter profits.
Last year, Verizon had a second quarter profit of about $1.9 billion. The 2009 second quarter brought upon a profit of about $1.5 billion — or a drop of about $400 million.
The good news for Verizon is that revenue was up. This year’s second quarter revenue was $26.9 billion. In 2008, that number was $24.1 billion.
Despite the good revenue news, investors weren’t too thrilled as …read more

Fairpoint Communications has mentioned the dreaded “b” word in its latest filing to the Securities and Exchange Commission, which could make it the next company of many to file for bankruptcy in these harsh times. According to the filing, Fairpoint will go forward with bankruptcy if cannot negotiate an extension on its interest payments with its debt holders.
 
Based in North Carolina, Fairpoint recently took over Verizon’s landline phone network in Maine, Vermont, and New Hampshire. Despite its recent acquisition, Fairpoint has struggled with a variety of problems, not the least of them being the interest payments on its $530 million …read more

Sometimes enemies are your best friends. That is apparently true in the television industry. Recently, Comcast announced that they will partner with Verizon FiOS to sell advertising in a total of ten markets where both companies fight for customers.
While financial details of the agreement haven’t been released, it is believed that Comcast’s sales department will handle the advertising for both companies in the ten markets.
The ten markets in question are Washington, DC; Seattle, Washington; Richmond, Virginia; Portland, Oregon; Boston, Massachusetts; Philadelphia, Pennsylvania; Baltimore, Maryland; Harrisburg, Pennsylvania; Fort Wayne, Indiana and Pittsburgh, Pennsylvania.
Verizon FiOS offers bundled services that include telephone, internet …read more

Verizon, a leader in mass-market, wireless communication, is committed to reducing their “carbon footprint.” In 2008 alone, the company reduced greenhouse gas emissions by more than 303,000 metric tons, the equivalent of taking more than 55,500 cars off the road.

Verizon’s “carbon intensity” is nine times lower than the national average for companies. In addition, the company operates the largest fuel cell site of its kind in the nation, a facility that generates enough electrical power per hour to meet the energy needs of 400 single-family homes.
(photo credit: Newscom)

Verizon posted better than expected earnings for the recently completed second quarter, proving that it can hold its own in tough economic times.
Revenue increased by just under 4 percent versus last year as the company saw growth in its wireless and FiOS high-speed Internet businesses.  Its profit margin in the wireless business exceeded analyst expectations, coming in at an impressive 45.6 percent.
On this morning’s conference call, Chief Executive Ivan Seidenburg said, “Verizon continued to grow in all key strategic areas in the second quarter, despite the economic headwinds.”
The company is considering a dividend increase but, this morning their stock is trading …read more