Verizon’s Financial Filing Implies Crisis

Almost certainly not real. New York is almost certainly a highly profitable telco franchise but for a decade Verizon has been reporting major losses. If they can’t make money from the massive business base and general affluence in New York, they must be losing almost everywhere. The network would benearly valueless and the stock wildly overpriced. Lowell McAdam’s $15-20M annual earnings would be completely absurd. 

Verizon actually has been one of the most profitable companies on Earth, throwing off $10’s of billions of cash in recent years. Bruce Kushnick reports

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