Verizon Communications
40 years ago NYSE: VRZN was founded. A Lawsuit filed with AT&T to breakup Bell System. Thus, Bell Atlantic Corp. was born. ("Baby Bell") With multiple operating companies involved in roster.
CEO Raymond W. Smith merged NYNEX and was consolidated into Bell Atlantic by '97
- 1984 - 2000 Founded upon a joint venture (Bell Atlantic, Vodafone & Verizon Comm.) Owning %55 of business. A $70,000,000,000 deal. With multiple divisions now. The newly founded Verizon Wireless was on a fast track to profits. And, due to its size, Verizon Wireless was able to gain a competitive edge.
- FCC approves $64,700,000,000 merger with GTE.
- New investors in markets and broadband technologies.
This new wireless entity was headed by co-CEOs Charles Lee, former CEO of GTE. And now the largest company in the early 2000's serving 63,000,000 in 40 states.
- 85,000 employees went on strike in August of 2000 after Verizon ended unionizing. With revenue being effected, NYSE: VRZN postponed public IPO's. Cancelled in 2003 after no longer needing to raise revenue. (Profit Mergers.)
- 144kb/s (NY and MA customers only...)