Tag Archives: Verizon Communications

Bad Idearc? Is Verizon On The Hook For Bankrupt Spinoff’s Debt?

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In 2006, Verizon(VZ), spun off its declining directory business as Idearc, saddled with billions in debt. Just 28 months later, the company filed for bankruptcy, Idearc has since restructured and reemerged as SuperMedia(SPMD), but trustees for the debtors are continuing their fight against Verizon for the repayment of debt. On Friday, the trustee for the creditors filed suit,… Read More »

Recent Spinoff Motorola Mobility Falls On Slowing Sales

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Image via Wikipedia Just weeks after its debut, Motorola Mobility(MMI) warned that sales were slowing in the face of Verizon’s iPhone introduction.  Despite reporting a profit and beating analyst estimates by $.01, the stock traded down sharply as the company projected a loss for the current quarter. Analysts had, on average expected earnings of $.01 for the current… Read More »