Thoughts on this shocking move? If saving money is the long game, then make the move now! Sell the assets. Cancel the contracts. Exit these high tax states. Don’t offer relocation. Eliminate 50% of corporate staff at HQ. If you don’t face a customer or directly interact with those that do, then time to let go. Get rid of the Pelaton marketing crew and turn out the revenue.
This is not a rumor. Just throwing this out there.
@hy Basking Ridge was sold and leased back in 2015 for $650M. So rent is paid monthly now for 10 more years.
@1j4 it's not an opinion thing. it is measurable and google-able. go ahead- i dare you
@1j2 What utter nonsense. There is zero comparison. Dallas is safe as anything in most parts, sure it's a big city but generally totally safe. NYC is a rat infested hole where street robbery is common. You ride the subway with your eyes open and you can see it!
@cy NYC has a MUCH lower crime rate than Dallas andeven lower than Irving. Please educate yourself before you spout nonsense
No more shoveling snow?
Sign me up!!!
@c6 yeah. Do some simple Google searching! Texas business tax rates are no worse than ny an nj. On top of that, Texas and it's counties and cities constantly give businesses substantial tax breaks for companies to move and stay there. Texas knows that they need to keep their growing population employed so they take action to attract and keep employers. Verizon would come out way ahead moving to Texas.
@109 do ya think they'd move the call centers to texas? That would knock the cwa down a peg or two.
Texas is a right to work state. That means you get to choose whether or not you join the union. You can't be fired for choosing not to belong! If you don't see a value in membership you get to keep the dues. It's on the unions to prove value to the potential members.
Either you see it as bad because you don't want to move there, but it's a damn good move for Verizon. They spent millions on the cafeteria and surrounding areas. Nobody will ever address why all this change with so few people in the office when you ask. Something big is coming to Irving. It's people from somewhere.
@hy BR was already sold and VZ did a lease back years ago
Texas, who the he-l wants to live in Texas?
Next you’ll suggest Oklahoma.
Building was built but it was for pioneer hq not Verizon…
Not true hidden ridge office is two buildings the other building is still open but limited to one floor, however renovations are on going and seems like plans are to reopen.
@d8 you can laugh all you like but Tx is just SO SO SO much better than NYC. It's booming, low taxes, great economy, great lifestyle, people so nice, low crime etc. There is not a SINGLE reason why NY is better - it's cold, full of angry people, filthy, crime ridden, crowded - just NASTY!
Basking Ridge is being sold - fact not rumor.
Not happening. When JV was the VP of RE it was on the table. A building was going to be built across from HRidge.,,, never happened never built. A trading center was built out near the HR campus .. barely used a now closed. Hidden Ridge was sold and leased back for 29 years. Pandemic hit and HRidge became a ghost town. One of the two buildings still remains 100 empty. Only one building remains open and it’s common knowledge here that the facilities manager is looking to bail out. I’ve got 18 months hoping it stays open till then
Texas is the place efficiency goes to becomes red tape and redundant task. Mci went bankrupt for a reason. Do nothing bloat. Tax benefits is the only asset for the lonestar st
@d8 I'm super glad that the birds are front of mind for you, even if you move to Texas, we will still be there, front row in your brain! G.B.F.O.H.D.H. lol
@df he flat out has said he’ll hold funds from democrat cities. He’s not everyone’s president. Stop blindly following a man child and go update your resume for layoffs, it’ll be a better use of your time.
A couple questions for my Texas Vteamer.
If I move to Texas from NJ do you recommend I buy a new or used horse?
Is there a restaurant near the office where I can buy chili with beans?
Where can I get authentic New Jersey BBQ?
Can we put aside our NFL allegiances and agree to stomp all Eagles fans in the Lone Star state?
Such a GREAT idea. Texas is a WAY better location than NYC. Better weather, better people, less crime, lower taxes, good location for travel. NOT a single reason why NYC is better AND it would let Dan the man clean out all the garbage management and bad practices
STOP! DONT DO THIS: If I have to move then what will I do about my 11am tennis matches on Tuesday and Thursday?
Bad Intel, 2 Penn is opening in 26
@aa Dan Schulman was one of those responsible board members
@bt NYC is one of the safest big cities in the country. But why look at facts when you can just run with insane vibes. Where you always so scared and hateful ? I bet I can guess what media you consume ( and regurgitate)
Trolls are about. They won’t move anything and taxes are higher in Texas. Do some simple google searching.
@bt thats some bigoted nonsense
It’s hilarious vz is investing millions in a city with a socialist mayor that will be overrun with crime. Who would want to work there? Yet another in a long list of Verizon fails.
Hidden Ridge was sold in 2016 as well.
@ag That stinks! (I mean Jersey)
OP, you talk like a squirrel traverses a road.
Verizon sold the basking ridge complex in 2015 for 630m and leased it back for 20yrs…so stuck in NJ for at least 10 more years guys
@aa But, I agree, bring it to Texas! Save a ton!
Dan Schulman needs to clean house from the top down! Hans didn't jack it up on his own! Top brass below him failed too! Get those not affected by the riff back to the office and to work! Plain and simple! Sad thing is I'm seeing reliability take a back seat. They want to cut PM's on critical equipment as well. Not good!
How do u not know how to spell peloton
thats a good idea
What is the current move date?
No brain-er