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Technology Stocks : Westell WSTL
WSTL 5.700-6.6%3:57 PM EST

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To: jeremic who wrote (19895)8/7/2000 4:02:45 PM
From: Sir Auric Goldfinger   of 21342
 
Verizon: 'No Guarantee' Of Quick Agreement With Unions>VZ 8/7/0 15:20 (New York)[not good for WSTL]


By Janet Whitman
Of DOW JONES NEWSWIRES

NEW YORK (Dow Jones)--Negotiations between officials at Verizon
Communications (VZ) and representatives from two unions representing more than
87,000 striking employees have been "very productive and encouraging," but
there's "no guarantee" an agreement can be "worked out quickly," said Verizon
spokesman Eric Rabe.
Verizon's unionized workers in the Northeast, from Maine to Virginia, went
on
strike at 12:01 a.m. EDT Sunday after negotiators failed to sign a new
contract.
"Negotiations have been really intense since Saturday," said Rabe in a
conference call with reporters Monday. "We've made some good progress, but
there are still some outstanding issues that are serious."
Verizon is "hopeful and encouraged" by the fact that negotiations continue
to
"move in the right direction," he said.
But he added, "I don't want to lead anyone to conclude that we're on the
brink of a settlement."
Picket lines have formed in front of 540 Verizon buildings, and picketers
number around 14,000, said Rabe.
About 30,000 managers are doing the jobs the striking workers would be
doing,
such as repairs and operator services, he said.
Managers are "filling all critical functions," with a particular emphasis on
repairs and operating and maintaining the network, he said.
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