Verizon bought AOL & Yahoo for 4.5 Billion EACH. 9 Billion total. Then sell both for 5 Billion. Lost 4 Billion. Great job Verizon.
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And if I'm remembering right didn't the blonde lady who was part of these decisions get highly insulted when she wasn't considered for CEO when Lowell left? If you want to know what ticks off the craft and lower level management it's stuff like this. The higher up's constantly make decisions that lose billions, then to make up the shortfalls they try to take your pension/healthcare away and claim you're over compensated!
Vz Connect will demonstrate the next great investment track record of buying high and selling low like they did with Terremark Data Center business. The leaders that make decisions only get promoted and celebrated as their deals sink us.
That was that id--t Blowell... He was easily the most inept CEO this company ever had. Last I heard he is in intensive care in the nursing home, since he looked like he was 90, a decade ago.
The executives that spearheaded this bet are no longer with the company. Can't blame Hans for this one. Since this didn't fit his vision, they were always going to be sold. They just needed to find the right buyer.
RIP OATH
This is why Verizon needs to do so many layoffs. To pay for Poor Business Decisions like these 2.