a company that once was sold, got bankrupt and resurrected from the dead .... imagine all the cash these guys made/ will be making....
should we be suspicious ?
Will Frontier also face a massive lay off initiative?
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Same with George Fisher, went to TMUS and has been kicking our butts for YEARS.
But, the Meatball supposedly knew what he was doing
@a2 "We now buy it back a few years later at double what it was sold for.." - I'm sorry, but this is not true.
The first Verizon divesture to Frontier (14 states) was sold for $8B. Frontier then bought SNET from ATT for $2B. The second Verizon divesture (CA, FL, TX) sold to Frontier for $10.5B. So Verizon sold for $18.5B, and they are now buying back for $20B - but they are picking up SNET ($2B) and legacy Frontier ($?B) in the process. So no, Verizon did not sell for X and buy back at 2X.
But yes...it is interesting how this is playing out, especially considering the players seem to play for both teams.
Stratton didn't get the CEO job here so he went there and made our life miserable because he knew just where our pain points are in the network costs.
Can't think of a single executive move over the last 10 years that bore fruit for the shareholders. Nearly every decision made was negative to our bottom line as we look back.
- Lowell bought the rest of wireless at the highest possible price he could have paid. Fail.
- Selling CA TX and FL to Frontier and then getting reamed by them. Now we lose money on the buyback
- Cybertrust???
- Terremark??
- BlueJeans??
- Buying a dying dog Yahoo and then unloading it later for half the price.
- How much did we spend for spectrum that may or may not be useful?
- The big 5G and how to monetize it. Never quite figured that one out besides at stadiums.
- Terrible advertising for years. We are coming back on that one lately.
- Losing customers and profit so the answer is to raise prices. The they did it again. We lost a lot of customers.
I am very encouraged by our new leader. We need him. It will be painful, but Verizon needs him.
Good luck everyone!
op. Post was should we be suspicious.
Yeah we should…
So end of 2023 VZ took a 1 time charge on a good will write down of VBG to the tune of $5.8 billion. Making the value of VBG about $1.7b
The revenue of VBG is roughly 4 times that of Frontier… how is Frontier worth $20 billion…? Economics never my strong point, just seems fishy that Stratton was running VBG when assets sold to Froniter, and now Chairman when they are bought back..
could all of just be something else to add to the long list of bad Exec decisions and waste.
execs leave or get pushed out, then go to competitors because thats the industry they are in. look at brightspeed, former wireline exec's (the good ones) stood that up from Lumen and some are still there.
@a3 was it about a week ago that VZ issued 10 billion of bonds to fund Frontier? Isn’t that basically 10 billion more on the 150 billion debt pile?
@a2 not sure if you saw the other posts? People are reporting their stocks not being visible in VZ web anymore, only frontier site which means that they do not have to pay.
Other posts about bonuses and eliminating 3-6% pay increases altogether
There are a million things going on behind everyone’s back right now. Frontier, Stratton, etc is a next year or two year problem.
Once again, this is not a frontier page. Create one if you like
@a1 the point being made is that a large chunk of Frontier, VZ sold to them. We now buy it back a few years later at double what it was sold for.. Frontier Chairman is a Former VZ CxO level. Stratton.
This is not a frontier page. Please go away