Full Version | Mobile Newscast
WVNS Home

Featured Links | Gas Price Tracker | Getting Started w/ YouNews™ | Camden Park Summer Giveaway | Greenbrier Classic

HOME  |   NEWS   |   WEATHER   |   SPORTS   |   LIFESTYLES   |   OPINION   |   COMMUNITY   |   PROGRAMMING   |   DECISION MAKERS  |  YOUNEWS   |   ABOUT WVNS   |   CONTACT WVNS
What's On WVNS-DT Now?Full Listings
11:00 AM:  The Price Is Right  
12:00 PM:  59 News @ 12p  

Home > News

Print this story RSS
Sale Of Verizon To Frontier Communications Raising Some Concerns
Posted Wednesday, October 14, 2009 ; 11:11 PM | View Comments | Post Comment
Updated Thursday, October 15, 2009; 08:45 AM


 Watch Story Video
Some Verizon employees are now wondering if they'll have a job once the deal is finalized.

By Gil McClanahan
Email | Bio | Other Stories by Gil McClanahan

CHARLESTON -- There's a cloud of concern hovering over some Verizon employees, wondering about their future if Frontier Communications buys Verizon.

"Very concerned not just for my job, for the security of my job, but I'm really concerned for the consumer of West Virginia," said Rick Cox, a Verizon employee.

The pros and cons of the deal were discussed Wednesday evening in thestate House of Delegates chambers, with one lawmaker asking specifically about job security

"I don't know what people we are getting. The technicians, I can tell you the technicians in the field, yes, at a minimum 18 months be guaranteed a job," said Ken Arndt, Senior Vice President with Frontier Communications.

Frontier is offering $8.5 billion for Verizon. The transaction covers 14 states with West Virginia being the biggest, but the question still remains in some minds, can Frontier afford to invest in West Virginia?

"Our financial analysts come up with different results than their financial analysts come up with. At the end of the day they're going to be strapped with 8 billion dollars worth of debt. Their business model is they pay out in dividends more than they earn, and it doesn't sustain itself," said Ron Collins, vice president for the Communications Workers of America. That union is speaking out against the proposed sale.

Arndt said if the deal becomes a reality, Frontier will double its debt while tripling its revenues.

"We view West Virginia as a growth opportunity, and with those opportunities come growth in jobs, growth in investment in broadband and new technologies that may not exist here today," said Arndt.

The next step in the process is a public hearing before the West Virginia Public Service Commission to take place Jan. 12.

Copyright 2010 West Virginia Media. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Most Popular Stories on WVNSTV.com Most Discussed Stories on WVNSTV.com

User Comments [ post comment ]
0 comments have been posted.
Post Your Comments
All fields are Required
Name: 
Email: 
  A valid email address is required to allow WVNS-TV to monitor comments and track users posting inappropriate comments. WVNS-TV does not use these for any type of SPAM operation.
Comments: 
Security Code: 
Enter the code exactly as you see it above.

NOTE: You may refresh the page to load a new Confirmation Code if this one is unreadable.
 
I have read and agree to the WVNS Commenting Policy
NOTE: It is unlawful to disclose personal information, including names, of minors under 18 involved in any criminal action.
 
This content requires the latest Adobe Flash Player and a browser with JavaScript enabled. Click here for a free download of the latest Adobe Flash Player.


© West Virginia Media Holdings, LLC
WBOY-TV I WOWK-TV I WTRF-TV I WVNS-TV I Your ABC I ABC Ohio Valley
FOX Ohio Valley | FOX WV | State Journal | Country Roads Journal | WVIllustrated.com
Closed Captioning Issues? | Public File | Privacy Policy


Site Development and Hosting By Citynet
Citynet