I've been hearing more and more about Verizon's (NYSE: VZ) FiOS products. I'm sure you've heard about them too -- you can get very fast broadband connections and TV services via fiber-optic technologies. They are meant to compete with cable companies such as Comcast (Nasdaq: CMCSA) and Cablevision (NYSE: CVC), as well as satellite entity DirecTV (NYSE: DTV).
Now comes word of an interesting deal involving a large apartment complex in New York City. According to this press release, Verizon will be supplying its FiOS broadband service to denizens of Stuyvesant Town and Peter Cooper Village. This is a significant accomplishment for Verizon, to be certain, since there are 110 buildings in the complex. Verizon is counting on FiOS to be an important driver of its business going forward. Reading through the press release, I do have to say that the speed potentials do sound impressive, and that the residents of this complex have something to look forward to -- I should point out, though, that I've never tried FiOS. Still, I do know someone who has the service, and from what I hear, it's pretty satisfactory, to say the least. As an interesting example, FiOS at its optimum speed level could download a movie 90 minutes in length in a little over three minutes. Now that's fast!
Verizon's FiOS scored an impressive deal here, and it will be interesting to see how many more transactions of this type the company will successfully execute. And you know what's pretty neat about Verizon? Unlike the competitors mentioned here, Verizon has a rather juicy dividend yield to go along with its broadband-content distribution model -- about 4.6% as of yesterday's close. FiOS and dividends -- it has a nice ring to it, doesn't it?
Disclosure: I don't own shares in any of the companies mentioned here; positions can change at any time.











Reader Comments (Page 1 of 1)
3-25-2008 @ 2:30PM
John Fulford said...
I agree FIOS has its merits however there downfall will not be the speed but their customer service.
My experience has been poor at best and it began the day of installation. When they fail to show up in the required block of time (8-12 morning or 12-5 afternoon) there is no one to call but an automated service that takes you around and around.
After several more hours of calling you find out your calls were directed to DSL (now an old account) and the person on the other line tells you to call FIOS. Several more frustrating hours later...
I still have yet to resolve a billing issue where they send a bill saying it is late for x amount of dollars but when we call they owe us x amount of dollars.
The old Verizon account with email no longer functions ( verizon email transfered from DSL to FIOS) but several calls fail to find a person or even give direction on how to handle it. Email to support (must use 30 words or less) gives the following:
"Verizon E-mail Help
Original Problem
Subject: -
Description: account no longer exist since I moved to FIOS. Can it be moved over?
Please use the information below to examine in detail the possible solutions to your issue.
Setting up sub-accounts in My Account - Tutorials
When you create a sub-account, you choose a Verizon Online User Name, a password, and a secret question to use if you forget your password. You also update the account features and profile settings for the new sub-account.
How do I update my account information? - Account Billing Options
Please visit My Account to make changes to your account, such as: Changing your password.
I reset my password over the phone. How long can I use my temporary password before it expires? - Security
If you have your password reset over the phone, then the temporary password you are provided expires 24 hours after you receive it. For your online protection, change your temporary password as soon as you get it.
How do I change my name on my account? - Account Billing Options
You can send us an email, or you can send correspondence to:Verizon OnlineATTN: Customer Service400 Foxcroft Ave, 2nd FloorMartinsburg, WV 25401Or you can contact us at (800) 567-6789.
How do I make billing changes to my account? - Account Billing Options
You can contact us at (800) 567-6789.
If we did not provide you with a solution, you can :
Reply to this email - Use your email Reply button to reply to this email and provide more information about your questions. Note: for best results, do not change the Subject line of the email as we use this for tracking purposes.
OR
Try another Help Option
Go to the Help & Support Web site
Chat with Technical Support
Submit a new help request"
So I replied and I receive:
"Verizon E-mail Help
Original Problem
Subject: Re: - Help Request
Description: account no longer exists since I moved to FIOS. Can it be moved over?
Follow-up Problem
Description:
Please use the information below to examine in detail the possible solutions to your issue.
Can I import my address book from my old account to my new account? - Setup
Yes, you can import your current address book into your new email account. Depending on the portal you install, you may have access to tools that automate the process of moving information from your old email account to your new email account.
How do I create additional email accounts for friends and family? - Setup & Use
To create additional email accounts for friends and family, set up a sub-account. A sub-account is a secondary email account associated with your main Email & More account.
Import your address book into your new email account - Email Tools
New to Verizon Broadband? You can import your old email address book into your new email account by using TrueSwitch.
Change Your Account Settings - Account Management Tools
Account settings vary according to your own personal needs. Read about a particular service and decide whether it's right for you.
How many email accounts do I get with Verizon Online and MSN®? - Top Questions
Following installation of Verizon FiOS Internet Service with MSN Premium, you'll have access to these email accounts: Verizon Online Email & More: One primary email account and eight Verizon Online sub-accounts
We hope we have provided you with the answer to your question. If not, please try one of the other options provided below.
Go to the Help & Support Web site
Chat with Technical Support
Submit a new help request"
So if things go smoothly have fun, if not get frustrated.
4-01-2008 @ 8:55AM
J Monroe said...
Great service and great product. The clarity of my TV picture is far superior to my old cable service.
4-05-2008 @ 12:35PM
Gary Rudolph said...
I too have have experienced serious lapses in Verizon's customer service and in general quality of useage that I left them a few years ago after a lifetime of association. In recent years Verizon land line service became so inconsistent in my city that it was not uncomon to be without phone service for one week each billing period on average and we never have been able to get any Verizon internet service at all. The final straw came when they assumed "Worldcom Wireless" and the billing process became a monthly shell game to undo overcharges through their less than credible "One Bill" feature. Still, I stayed with them for another year, spending hours on the phone (when it worked) to resolve billing issues--only to see them return on the next billing statement. The live customer service reps would apologize and fix the problems but the automated dialing collections robot would never get the word. After all of that, I don't think I would try anything Verizon comes up with technologically if I can't trust them to service it, especially under contract.
4-22-2008 @ 4:18PM
John Fulford said...
I think the word "serious" is justifiable as it goes across the board. I would love to give a simple scenario (let’s say Verizon provided voicemail number to retrieve messages on DSL account but your current account is FIOS. You are not aware the first number provided by Verizon is incorrect all you know is you are not receiving your messages) to a top Verizon VP on a Tuesday mid to late afternoon and watch as he/she attempts to correct the issue.
The Blog is about their wave but I don't think they know how to surf all the complex things they have started.