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Technology Stocks : Verizon Communications (VZ) -- Ignore unavailable to you. Want to Upgrade?

To: Alfredo Nova who wrote (50)	9/8/2000 5:06:37 PM
From: Rob Preuss	Respond to of 2198

[Verizon goes after long distance service in more states.] Verizon goes after long-distance in new states By Bloomberg News September 8, 2000, 12:25 p.m. PT NEW YORK--Verizon Communications is aiming by the end of October to file applications in two additional states to sell long-distance phone service, the head of the company's Washington office said. Verizon plans to apply at the Federal Communications Commission by Sept. 30 to sell service in Massachusetts and by the end of October in Connecticut, Ed Young senior vice president federal government relations, said at a Schwab Capital Markets conference in Washington. Applications for Pennsylvania and New Jersey will be filed about Jan. 1, he said. By law, large regional phone companies such as Verizon are barred from selling service in the $100 billion-a-year market until they prove local markets are open to rivals. Verizon's Bell Atlantic unit met those standards in New York in December. The company has signed up more than 1 million customers in the state. The company's plans to sell long-distance service were slowed after computer problems plagued its systems in New York, and state and federal regulators required it to pay $13 million in fines and refunds to competitors. Once the company wins access to the Massachusetts market, Young said it likely will make one filing to sell the service in Maine, Vermont and Rhode Island. Source: yahoo.cnet.com

To: Alfredo Nova who wrote (50)	9/8/2000 5:18:37 PM
From: Rob Preuss	Read Replies (1) \| Respond to of 2198

Hi Alfredo! The previous post is the sort of news that I think is important for VZ. We need to make swift progress on getting long-distance approval throughout the old BEL territory. Here we see that they're going after + Massachusetts (filing target date 09/30/00) + Connecticut (filing target date 10/30/00) + Pennsylvania (filing target date 01/01/00) + New Jersey (filing target date 01/01/00) + Maine/Vermont/Rhode Island Getting LD approval is key in two ways: + Once VZ has enough approvals, they get GENU back. By then... GENU should be starting to show some profits and it will probably be the fastest growing business that VZ has (wireless will be #2). + VZ can then offer bundled services. One stop shopping (with a bundled service discount) for local, long distance, wireless, and DSL/Internet will be a highly appealing deal for consumers... and it will be quite lucrative for VZ... VZ will not only be capturing $$$ for these services, but it will be capturing "mindshare" as well. Rob