It's not VZ it's the entire telecommunication industry as a whole is rather bearish at this point in time. Ride it out and buy more at the bottom.
The DOW is booming and VZ either just sits there or declines. And this is after three straight positive quarters. Can only guess what will happen if they report a negative quarter.
It won't be an easy fix. five million lines of code and probably every line has no documentation on what it is suppose to do. My bet is that there is no way to fix this mess in the next month. The entire mess will have to be totally rewritten. But what do you want for a mere $630,000,000. Your tax dollars at work.
I held ALL my shares and I'm glad that I did. I spent most of the weekend listening to pundits on TV telling us that Monday was going to be a disaster. What I learned is that the market couldn't care less what these moron politicians and TV commentaries think. Thanks to everyone who gave me the encouragement to hold the fort.
Check that it's 3:30 PST. Climbing the wall of worry I can no longer see correctly. : ) In ten minutes the DOW futures fell to -130. TOMORROW LOOKS LIKE IT'S GOING TO BE BREAKING BAD!
It's 5:30 PST and the DOW futures are -100. Just might dump my 3500 VZ shares and then get back in at a lower price. If no agreement is reached soon I can see the DOW shedding 1500+ points in the next few days and VZ below 40.
Just no sense trying to fight the tape and the politicians.
I simply don't look at short term charts as they will drive you nuts. Since I'm in for the long haul I look at the three year chart. Displayed over a three year chart Vz is an outstanding investment with a great dividend as well. Here is the key fact. In the last three years Vz has doubled in value.
I'll give you a story that happen about 10 years ago. VZ hired a company to do routine maintenance on all our company vehicles. The company was owned by a relative of a VZ high placed hotshot manager. They came in on a weekend and worked on our fleet of vehicles. Come Monday I get in my truck and drive about a dozen miles and the engine seizes up without warning. Turns out they flushed the radiator but neglected to put in any fluid.
Without any fluid the overheating gage won't even work so BOOOOOM went the engine. At least three vehicles had their oil changed but they cross threaded the drain plugs so the oil slowly leaked out and as they were driving down the road BOOOOM three more seized engines. After all that nothing happened to these clowns. They continued to work on our vehicles making expensive unnecessary repairs. They changed out the clutch on my truck even though their wasn't a damn thing wrong with the old one. Finally after enough complaints they finally got the axe.
About two minutes before Bernanke opened his mouth that he was going to keep printing money gold spiked to 47 dollars per ounce. #$%$ did they know that we didn't.
Digital feed over long distances via fiber optic cable. Once the "light" reaches a central office in your location the light is converted to an electrical digital signal in a piece of equipment called a multiplexer or mux. From there it travels to the central office digital switch and sent to the D-bank which supports the internet/intranet service. From there it's back to the switch and sent to a special two pair wire rack which is connected to your pair of wires that supports the telephone in your home. DSL now gets to your home and the DSL modem provides the magic of the internet.