When Trump's FCC Chairman Ajit Pai killed Net Neutrality (by illegally ignoring legitimate comments in support of it in favor of millions of anti-Net Neutrality comments sent by identity-stealing bots), he promised that it would spur growth in the telcoms sector -- and of course, he should know, because he used to be a Verizon exec. Verizon agreed: they objected to Obama-era Neutrality orders by saying the measures would "severely curtail job growth."
Then Trump handed out trillions in tax-breaks for the super rich and giant corporations, insisting that this would spur job growth and investment.
Alas, reality has a well-known left-wing bias.
Verizon has responded to this government largesse by killing 10,000 jobs, 7% of its workforce, to "optimize growth opportunities" and "better serve customers with more agility, speed and flexibility."
The cuts are allegedly "voluntary," but employees report that their managers are finding pretenses to write them up and then forcing them to accept the "voluntary" severance.
Verizon's take home from Trump is large: the company saved $4 billion in 2018 alone, and will reap a further $17 billion off its deferred taxes.
When contacted, Verizon denied there was any disconnect between the company’s promises and its actual delivery.
“Through the first 3 quarters of 2018, the company has reduced debt by $4.2 billion, and made discretionary contributions of $1.7 billion to employee benefit programs,” Verizon told Motherboard. “We've also returned $7.3 billion to shareowners in dividends, and continued to invest heavily in our networks.”
But former FCC lawyer Gig Sohn says the cycle of giving telecom giants tens of billions in subsidies, tax breaks and regulatory favors—then getting notably less or nothing at all in return—is a game we’ve been playing in the United States for the better part of a generation.
Verizon Trims 10,000 Employees Despite Billions in Tax Cuts and Government Favors [Karl Bode/Motherboard]
(Image: Michael Rivera, CC-BY-SA)
Anti-porn troll Chris Sevier (previously) has built his career by convincing grandstanding Republican state lawmakers to introduce doomed, unconstitutional porn-tax laws that would require in-state ISPs to implement default-on censorship of "adult sites" (or, more specifically, "sites appearing an an arbitrary, unaccountable secret blacklist of allegedly adult material") and then charge $20/subscriber to turn off […]
Motherboard's blockbuster story about mobile carriers selling your realtime location data into a marketplace where bounty hunters and other villains can buy it for just a few dollars has triggered an urgent, national conversation about the fact that, in the year since the first stories about this emerged, the carriers have not only failed to […]
Federal employees missed their first paycheck last week; from here on in, every milestone dramatically exacerbates the pain of the shutdown: a halt to aviation as TSA screeners quit en masse, civil cases stall in federal courts, 38 million hungry Americans denied food stamps and 10% of food sales in the US vanishing; deals expiring […]
For the newbie, Python can seem like the most intimidating programming language. After all, it can be used to create everything from simple apps to vast networks of web crawlers. But there are fundamental principles that underlie all the uses of this versatile platform, and you can absorb them all with the Python Master Class […]
Building a website on WordPress has always been easy. But if you really want to make your website stand out from the growing crowd, you’re going to need some help. For our money, a subscription to Storeshock WordPress Themes & Elements does the trick almost as well as having a pro designer by your side […]
These days, there isn’t much our iPhone camera can’t do – except feel like an actual phone. Despite years of steadily increasing resolution and image sensing technology, we’re still taking shots awkwardly with two hands, fumbling for the shutter button. Leave it to an avid photographer to design Shuttercase, a versatile iPhone case that solves […]