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Verizon Wireless Agrees to Settle ETF Lawsuits

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Oh Verizon...

dimmy

Jul 9, 2008, 4:02 PM
Had you not of crippled the hell outa everything you touch I would have stayed. Iphone here I come, and this should shave me some mula when I leave friday!
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vzw-rich

Jul 9, 2008, 4:08 PM
just so you know this doesnt mean your etf goes away. you still have to pay for it.
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dimmy

Jul 9, 2008, 4:11 PM
Yup i know, but not $175 only $90 which yes is alot but $85 less than I would have 🙂 (I just called).
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tnt2k1

Jul 9, 2008, 4:21 PM
Customers have no idea what they just did. This action and future Government regulation will prevent customers from disputing ETF policies because it is now under Gov't law and regulation. This is a major win for the carriers because now they will be invulnerable to ETF lawsuits. Whatever disputes the customer comes up with in regards to ETFs, the carrier can say "well it's a gov't regulation there's nothing we can do". The Gov't sheild is an amazing thing.
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willv

Jul 9, 2008, 4:29 PM
agreed
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captainplooky

Jul 9, 2008, 4:59 PM
🤣

Yeah, and that must be why carriers fought tooth and nail against such lawsuits.
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tnt2k1

Jul 9, 2008, 5:02 PM
And it costed VZW $21 million, which is only less than half a percent of their total revenue might I add, to never have to deal with the lawsuits again.

VZW definitely came out winning.
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captainplooky

Jul 9, 2008, 5:40 PM
Hate to tell you, but if Verizon truly thought they were "winning" by settling, they wouldn't have spent that money trying to fight it.
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tnt2k1

Jul 9, 2008, 6:04 PM
hate to burst your bubble ... but this isn't the first time something in this nature happened. The most infamous case study was the utility wars in Wisconsin-Michigan around the 1950s. It got to the point where they went to the gov't seeking regulation, saying "we need a fair rate for the customers!" The utility companies came out banking.

$21 million is nothing to VZW. That's all nickles and dimes. they won because now they won't receive any bad publicity from the lawsuits (actually, this may be good PR because of a "regulated" ETF that customers blindly support). They won't have to reallocate anymore time and resources to figuring these lawsuits out. Look at all of the goodwill they gained from this! it's amazing.

VZW said "s...
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rmtp22

Jul 13, 2008, 7:05 AM
Hate to burst your bubble - but VZW is over $31Billion in debt.

Correction - $21 million is not less than 1% of revs'. It comes to about 4.47%.
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CellStudent

Aug 4, 2008, 12:00 PM
rmtp22 said:
Hate to burst your bubble - but VZW is over $31Billion in debt.

Correction - $21 million is not less than 1% of revs'. It comes to about 4.47%.



AT&T debt: $63 billion
http://www.thestreet.com/story/10393862/1/att-boosts ... »

Sprint-Nextel: $19.5 billion (and growing)
http://www.kansascity.com/798/story/717800.html »

Qwest: $22.6 billion
http://www.marketwatch.com/News/Story/Story.aspx?gui ... »

I'd have to say Verizon is in pretty good company from a debt perspective. It's a way of life in the telecom world. profitability is way more important then debt load. As long as the debt is tied to sound investments in ...
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rmtp22

Aug 4, 2008, 12:24 PM
Not disagreeing with you. However keep in mind the 31 billion in debt that VZW has acquired does not reflect the 21 billion they will add after the Alltel purchase.

Yes in order to grow and keep adding, they will have to keep looking for other sources of funding. Money is cheap. Look at Sprint - they are still in business. And now with the ClearWire deal.......

And US Cellular. They refuse to go into debt and prefer to be cash and carry only. Look where that has put them. Antique equipment and a no compete for the data market share.

It was not an attempt to debate financial's, but rather a reality check to the ones that believe VZW is more than perfect and have no debt.

It will be interesting to see if they pull off their 2yr de...
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shiftmobile

Jul 9, 2008, 5:18 PM
dimmy said:
Yup i know, but not $175 only $90 which yes is alot but $85 less than I would have 🙂 (I just called).


So you're 17 months into your contract. Did you know that Verizon has had a pro rated ETF since November 2006? (AT&T didn't start their's until May '08 and Sprint still has yet to implement a pro rated ETF policy) This lawsuit didn't have anything to do with what it cost you to leave. It was the same regardless. $5 reduction per month that you have fulfilled.
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Bigbmc26

Jul 9, 2008, 5:56 PM
Actually, Cingular was the first to prorate ETF fees. The Southeast was that way years before VZW thought about it. The $175 nationwide came along with the buyout of Bellsouth and now they proration is back.
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willv

Jul 9, 2008, 4:28 PM
have you tried att in your area? i only ask because in my area, the best phone in the world couldnt make me switch to att, the service is horrible where i live.
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dimmy

Jul 9, 2008, 5:11 PM
LA=not a problem for any carrier my friend 🙂
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MidnightDT

Jul 9, 2008, 7:49 PM
your going to be pist in sept when the blackberry thunder comes out and its better then the iphone, can record video, can send mms, has stereo bluetooth, etc.
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LordObento

Jul 9, 2008, 7:55 PM
November
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