Verizon Finally Getting Some Cred

Back a couple of years ago when Verizon Ceo Ivan Seidenberg was getting trashed by the both the media and Wall Street (more by the media), I thought it was pretty unfair. He was doing what good CEOs do and transforming an old Baby Bell into a digital and wireless powerhouse. But that cost a lot of money, and everyone seemed to be saying that he was taking too high a risk, particularly with his Fios strategy.

But now Verizon is reaping the rewards of that investment. So it is good to see that some in the media are noticing. Verizon Wireless is pretty much the market leader and generates more revenue per subscriber than any of it competitors. But the real story is in DSL, fiber to the home and TV. All are reaching levels of penetration ahead of projections and it seems the cable companies are, in a word, concerned.

I've followed the Verizon Fios service closely as it has expanded over the last couple of years. Users are generally delighted with download speeds of up to 100 Mbps. Even at lower speeds, Fios provides high quality Internet Protocol Television (IPTV) services with the possibility for an unlimited number of channels. And there are a range of other services possible, including high quality video conferencing.

In any case, I'm glad to see Mr. Seidenberg getting his due. He's a good business man, a delightful person to see interviewed and a man who put it "on the table" for his company and is now reaping the rewards for his shareholders.


Terrence McCarthy

6:20 PM

Dispatch from the south coast of Rhode Island. Since our return from a trip down south two weeks ago, Verizon looks like a technological army of occupation around here. Convoys of Verizon trucks on the highways. Teams of Verizon workers working on the poles. Everywhere one looks: Verizon. The Providence Journal had two full page ads today. Verizon ads.

This is a very small slice of the Big Pie. But the company sure is visible here.