rradina
join:2000-08-08
Chesterfield, MO | Insurance Money I keep reading posts referencing the fixes (however they do it -- fiber or more copper) are funded by insurance money. Does anyone have the skinny on how Verizon insured this? A lot of big companies self-insure. They might have a "stop loss" policy (i..e anything beyond $1M or $1B), but are we sure this is covered by insurance? If so, can someone point me to information from Verizon so I can educate myself? Thanks. | |
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 CXM_SplicerLooking at the bigger picturePremium
join:2011-08-11
NYC
kudos:1 Reviews:
 ·Verizon FiOS
| Re: Insurance Money I can honestly say in my 20 years in the company (under various names) I have never heard anyone mention 'plant' insurance. Their motor vehicle fleet is self insured and they also have a self-insured medical plan that many employees use. I have been looking into this very question for almost a week now and can't find an answer to 'where is the money coming from?' Management tells us it is coming from FEMA but I can't find any documentation to back that up
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 |  morboComplete Your Transaction
join:2002-01-22
00000 | Re: Insurance Money said by CXM_Splicer:Management tells us it is coming from FEMA but I can't find any documentation to back that up
That's disturbing. Is FEMA really involved with helping one of the largest companies in this country re-build? | |
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|  MaggsLife is awesomePremium
join:2002-11-29
Woodside, NY
 ·RCN CABLE
| They probably have stop loss coverage, with insurance covering any damage above X amount of dollars. FEMA will kick in some cash too. Great time to be in Verizon in the Northeast right now, you'll get more hours then you can shake a stick at and if you're married your wife will be able to buy some nice sparkly diamonds with your paycheck.
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Yes, ladies I am single. | |
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MaggsLife is awesomePremium
join:2002-11-29
Woodside, NY | They most likely are self insured with a stop loss policy covered by other insurance. They will most likely hit the stop loss cap with all the Sandy damage with FEMA giving them the rest.
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Yes, ladies I am single. | |
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| rradina
join:2000-08-08
Chesterfield, MO | Re: Insurance Money Great! More corporate welfare. | |
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| | | rradina
join:2000-08-08
Chesterfield, MO
1 edit | Re: Insurance Money The resulting electrification is a permitted but regulated monopoly. It was also loans, not welfare.
Are we saying Verizon is only getting low interest federal loans? Regarding low interest, credit is so cheap what is "low interest"? To be worth it, it almost has to be NO INTEREST. Since the government will sell bonds to acquire the money, that's more public debt and it will cost all of us. | |
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| | | | MaggsLife is awesomePremium
join:2002-11-29
Woodside, NY Reviews:
·RCN CABLE
| Re: Insurance Money If the fed govt credit guarantees the loans, Verizon can borrow money at next to nothing. Just look at their capital lease obligations paying 6.8% in interest in 2010.
Look at the fact there's $5,902 million outstanding debt due in 2012. Imagine borrowing $5,902 million at 6.125%, and you thought home mortgages were expensive.
»www22.verizon.com/investor/app_r···e09.html
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Yes, ladies I am single. | |
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| | | | | rradina
join:2000-08-08
Chesterfield, MO | Re: Insurance Money Why in the world would they be paying that much? I remember reading about a recent rush by otherwise healthy companies to issue tons of debt. Reason? Because it's practically free.
»moneymorning.com/2011/05/30/reco···e-bonds/
I don't think WE should be paying Verizon to rebuild anything that isn't regulated. If it's regulated, maybe, since we limit the profit they can make. However, Verizon has also been accused of "fixing" their books by pushing all kinds of expense into their regulated area to artificially inflate rates. This likewise deflates the true operating expenses of their non-regulated LOBs where it doesn't matter how much profit they show (other than corporate taxes).
»www.newnetworks.com/Verizonshellgame2012.pdf | |
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