Here is the front page article that describes what Verizon is doing in detail.
»Verizon Details Their Uses for Location Data
Here's how to Opt Out of it.
Log into your Verizon Account - »myaccount.verizonwireless.com/clp/login
You'll see this. Select "Manage Privacy Settings". It's highlighted in red when if your mouse is over it.
We want to opt out. So in the below image, select the "Opt Out" button, which is currently the left one. Click Save. The page will refresh.
You will need to do it one at a time for each option and save it. Verizon doesn't really want you to do this, so it's a minor hassle. Maximize the next option and check the opt-out button for each part.
"If something about the human body disgusts you, complain to the manufacturer" - Lenny Bruce
What this country needs is a good five dollar plasma weapon.