In March 2007, Verizon vice chair and president Lawrence T. Babbio, also known as the company's "FiOS cheerleader-in-chief," is retiring after 41 years with the company. The move by the 62-year-old vet has some wondering whether all is right with the costly FiOS rollout. FiOS fiber vendors ADC and Corning have each signaled a decreased sales outlook from order delays--Verizon buys from both companies. A report in TheStreet.com quotes a Washington, D.C.-based telecom investment veteran as saying "This is the beginning of the end for FiOS." Verizon denies those claims, of course, saying their rollout is on track, their subscriber wins should hit 175K by year-end and Babbio's decision to leave was a personal one, not motivated by a faltering FiOS rollout.
For more on Verizon, Babbio and FiOS:
- take a look at this article from TheStreet.com