Communincations Inc.
Financial
Data:
Verizon
Communications
Annual
Income:
$88.144
Million
140
West Street
Number of Employees:
242,000
New York, NY 10007
Ticker Symbol: VZ
Map
Stock Exchange: $37.87 per
share
Verizon Official Website
Return on Revenue and
Assests
2006
Annual Report :
Letter to Shareholders (page 3)
SEC
10-K Report
SEC
DEF 14A Form
Profile:
Formed in 2000 when Bell
Atlantic bought GTE, Verizon is a top US
telecom services provider. Verizon operates through three divisions:
Telecom, Business, and Wireless. Its telecom operations include about
45 million access lines in 28 states and Washington, DC. Verizon
Wireless, the company's joint venture with Vodafone Group, is the #2 US
wireless provider (after AT&T Mobility, formerly known as
Cingular), with around 60 million customers. Verizon Business was
formed in 2006 when Verizon bought MCI, creating a global advanced
communications and information technology (IT) powerhouse to serve
large business and government clients. Verizon is also a globalization
meaning they have they name and companies around the world. Verizon has
over 300 offices in 75 countries across 6 contintents. This is a
great way to be known and make even more profits. Verizon
Communications does a great job of vertical integration, with making
their own supplies and saving them time and money. Helping them to stay
on top of the competition.
Top
Officers:
Chairman
and CEO: Ivan G.
Seidenberg
Ivan Seidenberg is chief
executive officer for Verizon. On March 11th,
2002, Verizon announced the acceleration of the transition of Mr.
Seidenberg to sole CEO, effective April 1, 2002.As chief executive of
Bell Atlantic, and previously of NYNEX, Ivan
Seidenberg was instrumental in reshaping the communications industry
through two of the largest mergers in its history: the merger of Bell
Atlantic and NYNEX in 1997 and the Bell Atlantic merger with GTE in
2000. He also led efforts in September 1999 to form Verizon Wireless,
the nation's largest cellular business composed of the wireless assets
of Bell Atlantic, GTE and Vodafone Airtouch.Mr. Seidenberg began his
communications career more than 35 years ago
as a cable splicer's assistant. His career has encompassed numerous
operations and engineering assignments, including various leadership
positions at AT&T and NYNEX.
He has a long-standing
commitment to education and is a strong
proponent of connecting students and teachers to technology. He
championed a special rate for schools and libraries to connect to the
Internet. Mr. Seidenberg's activism to provide electronic access to
young people led to his involvement with The New York Hall of Science
and Pace University, on whose boards he serves.
President and COO: Dennis F. Strigl
He is responsible for
operations at Verizon Telecom, Verizon Wireless
and Verizon Business. He assumed this position from January 2007.
Previously he was the president and CEO of Verizon Wireless. Strigl was
the lead executive in charge of integrating Verizon Wireless when that
company was formed in April 2000, by combining the domestic wireless
operations of Bell Atlantic, Vodafone AirTouch and GTE. Previously, he
served as president and CEO of Bell Atlantic Mobile and group president
and CEO of Bell Atlantic Global Wireless, the company’s domestic and
international wireless portfolio.
As of 2006, Strigl has served
in the telecommunications industry for
over 30 years. His telecommunications career began in 1968 with New
York Telephone company. After this, he held postions at AT&T and
Wisconsin Telephone Company, before becoming vice president of American
Bell, Inc. He became president of Ameritech Mobile Communications.
Strigl launched the nation's first cellular telephone network in
Chicago, resulting in the Cellular Industry Achievement Award, which he
was given for engineering advancement and pioneering in marketing
programs. Applied data inc. was the next company he served for as
president and chief executive officer. As of 2006, He also serves on
the boards of directors of Anadigics Inc., PNC Financial Services Group
and PNC Bank. Among his many accomplishments, Strigl holds a degree in
business administration from Canisius College in Buffalo, New York and
an MBA from Fairleigh Dickinson University in Rutherford, NJ, which
named him to its Pinnacle Society for distinguished alumni.
EVP and CFO: Doreeen A. Toben 
Doreen A. Toben is executive
vice president and chief financial officer
for Verizon, a position she has held since April 2002. She is
responsible for Verizon's finance and strategic planning efforts.
Prior to her current
assignment, Toben was senior vice president and
chief financial officer, with responsibility for finance and strategic
planning for Verizon's Domestic Telecom Group.
At the time of the Bell
Atlantic / GTE merger in July 2000, creating
Verizon, Toben was vice president and controller for Bell Atlantic.
Previously, Toben was vice president and chief financial officer -
Telecom / Network, for Bell Atlantic. Prior to the Bell Atlantic /
NYNEX merger in August 1997, Toben was vice president - Finance and
controller of Bell Atlantic, a position she held since December 1995.
Prior to that, she was vice president - Corporate Finance.
New Products and Services:
FiOS
FiOS is a fiber-optic
broadband network that uniquely positions itself
to meet customer's growing bandwidth needs for years to come. The FiOS
internet service offers customers ultra-fast broadband connections with
current download speeds up to 50 mbps, the fastest in the market today.
FiOS also provides the fastest available upload speeds, allowing
customers to send photos, videos, and other large files.
The FiOS TV service is a
superior alternative to cable and satellite,
offering a broadband connection of all digital programming, more than
25 High Definition channels, and access to more than 8,000
video-on-demand titles. With this Verizon FiOS you can receive the
Digital Video Recorder that allows viewers to watch recorded programs,
for all the rooms with televisions in them.
Wireless
Advantages
of Verizon Wireless:
- Most reliable wireless voice and data network in the nation
- Recognized by publications and industry organizeds for the best
customer service
- Over 2,200 Verizon Wireless retail stores across the country
- VCast services, delivering music, Internet access, video and
locator services on the mobile phone
- Picture and text messaging reaching all time highs during the
last quarter last year
VCAST
Mobile TV:
- First true mobile TV
service in the nation
- Released March of 2007
The image to the right is the
new VCAST mobile TV phone from Verizon.
This is what is coming out March 2007.
New
Facilities:
Verizon
has added new and more facilities
in New York and England recently. Those are the only ones being talked
about at this time.
Assessment:
My assesment of Verizon
Communications Inc. would be that they
are doing well. They have increased their profits in almost every
category. They have introduced new products and services that are going
to make them a lot of money. Right now over 100 million people connect
to their networks everyday. I say they have a really big jump on
things. Verizon is the company of choice for me and my family and we
have had no problems with the company. Verizon is known nationally and
will continue to do great things in the wireless and phone world.
Key
Competitors:
- AT&T
- Qwest
- Sprint Nextel
Recent News Articles and
Releases:
Verizon
passed up the iPhone deal!
Verizon
gets rid of the $5 messaging plan.
Energy
Savings Programs Help Verizon cut costs...
Oregon residents benefit from Network Expansion
Audrey McDonald
April 20, 2007