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Brief History of Verizon Communications Inc.

Brief History of Verizon Communications Inc. Formed as a result of a merger between Bell Atlantic and GTE on July 27 th , 1998 One of the largest American broadband and telecommunications companies

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Brief History of Verizon Communications Inc.

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  1. Brief History of Verizon Communications Inc. • Formed as a result of a merger between Bell Atlantic and GTE on July 27th, 1998 • One of the largest American broadband and telecommunications companies • Verizon Communications corporate governance quotient as of February 2nd, 2009 is better than 64.5% of S&P 500 companies, and 95.8% of telecommunications service companies. • IBM is better than only 28.8% of S&P 500

  2. Empowering Employees • Provided more than $112 million in tuition assistance for more than 29,000 employees • $27.7 million on the college education of children of employees • Boosted participation in preventative health services • Expanded online services (HealthZone) for employees to manage health • Nearly $4 billion spent annually on health care • 4% of 2007 revenue • 900,000 Verizon employees, retirees, and dependents

  3. Service and Innovation • FIOS-Broadband Access • Ex. Fort Wayne, IN-2007 • 2.4 Million Jobs-92 Billion New Wages • 662 Million Healthcare Savings • 6.4 Billion Fuel Savings • Rising Property Values • Parental Control • Free-Messaging, Mobile Web, PC Cards • Manage Online • Coupe Phone

  4. Verizon vs. IBM • Environmental Impact • Community Partnership and Growth A comparison on social responsibility

  5. Environmental Impact and Responsibility: Verizon • Habitat Restoration Project at the Verizon Center Campus in Basking Ridge New Jersey earned Governor’s Environmental Excellence Award for Healthy Ecosystems in 2007 • Inducted into the U.S. Environmental Protection Agency’s WasteWise Hall of Fame in 2007 in recognition of our waste-prevention and recycling programs • eTree program

  6. Environmental Impact and Responsibility: Verizon • A 2007 study by the American Consumer Institute found that widespread use of broadband services by consumers and businesses could reduce CO2 gas emissions by nearly 1 billion tons over the next 10 years. Carbon Intensity (metric tons of CO2 emitted per million dollars of revenue) • total energy conservation, waste prevention and recycling efforts have reduced greenhouse-gas emissions by 332,295 metric tons per year • purchased 100 hybrid sedans in 2007 to add to its fleet in 2008. Another 100 are expected to be purchased in 2009. U.S. Average Verizon

  7. Environmental Impact: IBM • Net energy use and CO2 emissions increased 5% from 2006 to 2007 • Still extracting solvents from past contaminations at 7 currently operating sites, and 11 former sites in 3 different countries. • still potentially liable for “only” 17 sites. • The Press & Sun-Bulletin reported on the findings of a new study that kidney cancers, testicular cancers, and birth defects are elevated in Endicott, NY.

  8. Community Partnership and Growth • Thinkfinity.org • In 2007 Verizon launched a three-year, $31 million commitment to make it the most useful and trusted source for educational resources on the Internet. • Hopeline • Distributed more than 60,000 phones with more than 160 million minutes of free wireless service to be used by victims of domestic violence • E-Rate • discounts ranging from 20% to 90% of the cost of funded services. For eligible schools and libraries. • 411 Assistance/Alternative Media Formats

  9. Community Partnership and Growth • Diversity Inc. magazine ranked Verizon Communications No. 1 in its Top 50 Companies for Diversity in 2008 • IBM ranked No. 9 • Hispanic Business magazine ranked Verizon No. 9 in its Diversity Elite 60 in 2008 • IBM did not rank. • Spending rose 20% to $3.1 billion with diverse suppliers. • IBM - $2.4 billion. • Women hold 36% of Verizon’s managerial positions • IBM - 29%

  10. Rebuttal

  11. “The finalists for the 2008 Corporate Citizenship Awards represent diverse industries, interests, and geographies, but they all have one thing in common—a profound devotion to civic duty,” said BCLC Executive Director Stephen Jordan. “They are committed to doing the best they can for the people and communities they serve. Their actions make them exemplary corporate citizens.”

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