Why do some think that Verizon will never again have the caliber of leadership that we had from 2001-2011? I am optimistic though. I would love for those great times to happen again.
I would not like to comment on the current management, but I will just say that there is a lack of vision and enthusiasm. A little vision would not hurt this company.
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Ray Smith had the vision to start expanding and buying wireless carriers. Putting the bells back together again, and also wanted to bring fiber to the home but the technology & regulatory environment wasn't that far ahead yet. While it sounds outdated now, the overall concept of providing video was ahead of it's time. He wanted to put "Video servers" in huts, to feed developments (there wasn't a big enough backbone to handle centralized video) Fiber to the curb Trial was being implemented in Lancaster PA in 1989-90. He wanted to run coax from the ped to the house, but cable sued. so it was fiber to the ped, then Ethernet to the house. The real technology to implement that vision properly took another 15yrs to catch up(FiOS)
Ivan, continued that vision, trying to put ma bell back together again... although the GTE purchase was not ideal. Ivan built upon the dialup & DSL platforms and made the move to bring us true fiber to the home. (Completing Smith's goal) ... And continued to expand wireless.
Biggest let down... picking his successor !!!
The last one & the current one have been sub par at best...
And that's being kind.
Verizon has never been and never will be a growth stock. It's a dividend stock.
I miss my old RD. He would take the time to connect the dots. U didn’t always like what he said but at least he was honest. Unlike...
There are only 3 wireless service providers in the United States. Verizon doesn't really need the top executives or employees to make money. That's the beauty of being in an industry without competition.
Poor leadership by our current CEO.
Seeking Alpha - Verizon: $53 Billion Reasons To Avoid Mar. 13, 2021 9:44 AM ET
Summary
- Verizon outlined C-band auction results after spending $53 billion for the 5G spectrum.
- The wireless giant expects to spend another $10 billion on capex and 2023 earnings will take a $0.20 hit.
- The stock won't rally as earnings take a hit and growth isn't likely to materially improve.
Takeaway
So yes, Verizon got some crucial spectrum, but the company spent $53 billion and is in no materially better position than competitors T-Mobile and AT&T. At the same time, DISH and U.S. Cellular have enough spectrum in sub-6 GHz spectrum to be a pain in the neck of a company with a large debt load. The stock isn't going anywhere under this scenario of heavy spending and lackluster growth.
I am not sure if those early days will ever be duplicated because it was a perfect storm. The network and the adoption of smartphones. Smartphones and 4G was a KPI. We had a short live era after that with tablets and jetpacks, but it has been a commodity since regardless of 5G. I joined the company at 2013. Some of our spending was frivolous but it showed the company’s appreciation towards the employees. We went from literally buying dessert for clients to having request an expense for appropriate travel. We were encouraged not to rent a car and use car share if possible. This was before the pandemic.
The current CEO is superior to the last old man we had, who had one foot in the grave and his head in the clouds. He just needs to remember verizon isn't a social justice experiment and he would be ok.
We will have the Caliber of leadership like 2001-2011 when we get a person like Mike Sievert as the CEO and get the other guy Out.