Verizon New York 2021 Annual Report Reveals Massive Financial Scandal.

Excerpt, Verizon NY 2021 Annual Report Detail, published June 1, 2022
  • 1A: Local Service had $932 million in revenues in 2021.
  • 1C: Local Service was charged $1.2 billion in construction and maintenance, (known as “plant” and “non-specific plant”) in just New York, in just 2021, but there has been no serious maintenance or upgrades. Where is all the money going?
  • 1F: Local Service was charged $615 million in Corporate Operations expenses — i.e., for lawyers, lobbyists and executive pay, even the corporate jets. This is 61% of the total charged to Verizon NY yet these expenses have nothing to do with local service or even New York State.
  • 1D: Local Service was charged the majority, $31 million, for Marketing, when there is no marketing.
  • 1G: All of these artificial expenses caused massive losses of $1.9 billion dollars, which should have never occurred.
  • We estimate that up to 2.3 million lines in service for basic copper phone service based on FCC subscriber line charge revenue.
  • Holes in the Data: The Report provided ZERO lines for $2.8 billion of revenues from the Verizon NY access services, (Special Access) or the nonregulated VOIP and Verizon video services.
  • We have no information about the actual number of lines from these lines of business.
  • The FCC stopped publishing “Statistic of Common Communications Carriers”, in 2007, which supplied much of this information by state utility. These reports started in 1939.
  • No one is using the state-based wired services is simply not true. While there has been a steady decline of customers who have wired-copper-based phone service, all of the other lines in service were never counted and never presented to the public.
  • All of the fiber optic lines in service were also never counted at any time and these wires are also part of the state utility, even though common wisdom has denied this fact.
  • Verizon Online only paid $1.8 million dollars to Verizon NY.
  • Verizon Online, which is the ISP service that is used as part of FiOS, had a massive unexplained drop in payments: it was paying $908 million dollars in 2019 but only $1.8 million in 2021.
  • Empire City Subway are the conduits for fiber optic services that Verizon and competitors rent, and in 2019, Verizon NY paid $88 million dollars and in 2021, there is no payment
  • We believe that the wireless subsidiary has taken over the construction and maintenance budgets that were charged to Local Service, as well as getting use of the other services, such as the Business Data Services, — and it could be as much as $750 million to $1 billion annually being illegally transferred.

Verizon really cares about you, your city and America… Really —

Verizon writes: Facts at a glance:

  • Verizon owns and operates one of the most expansive IP backbone networks in the world.
  • The Verizon global network includes more than 500,000 route miles, including terrestrial and undersea cable, spanning six continents.
  • Verizon provides voice, data and Internet services on its state-of-the-art fiber-optic network, reaching customers in more than 2,700 cities and 150 countries.
  • Verizon currently operates three satellite facilities located in the United States and the United Kingdom, supporting service in more than 75 countries for government and business customers.
  • The Verizon network is large enough to circle the world more than 20 times.
  • After deploying the industry’s first commercial 100G ultra-long-haul system for live traffic in 2009, Verizon continues its 100G leadership position, and in 2011, established the first standards-based, multivendor 100G Ethernet link on its IP backbone on a portion of our European long-haul network. Verizon also is deploying 100G technology on its major U.S. backbone network routes.
  • Verizon carries IP, data and voice customer traffic on its global IP global network, including traffic on more than 80 submarine cable networks worldwide.
  • Verizon is a consortium member of the 15,000 kilometer Europe India Gateway (EIG) cable system which enhances capacity and diversity from Europe to the Middle East, Africa and India. The design capacity on the full system is 3.84 terabits per second (Tbps) using dense wavelength division multiplexing (DWDM) technology to provide upgradeable transmission facilities supporting present and future Internet, e-commerce, data, voice and video services. The cable system was activated in 2011.
  • Verizon was the first to deploy undersea mesh technology — providing multiple diverse paths for voice and data traffic reliability — to connect major submarine cable systems traversing the Atlantic Ocean with eight-way diversity.
  • Verizon has five major global Network Operations Centers in the United States, Europe, and Asia-Pacific.



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Bruce Kushnick

Bruce Kushnick


New Networks Institute,Executive Director, & Founding Member, IRREGULATORS; Telecom analyst for 40 years, and I have been playing the piano for 65 years.