Fairpoint-Verizon Deal Depends on Union Workers Not Getting a Raise for Seven Years
FOR IMMEDIATE RELEASE
Phoenix Media/Communications Group
pkadzis (at) phx.com
jinglis (at) phx.com
PORTLAND, Maine – This morning, the Portland Phoenix exclusively reports that the FairPoint-Verizon deal, which would put all of Verizon’s northern–New England telecommunications resources in the hands of FairPoint communications company, is based on a series of bad financial assumptions, including that labor unions will accept zero-percent raises for seven years, and that gasoline prices will remain constant until at least the year 2015.
The story, “No Raises for Seven Years,” is based on filings with the Maine Public Utilities Commission, and is available in print and on the Phoenix’s website, www.thePhoenix.com. It addresses the $2.7 billion merger deal between the two publicly-traded communications companies, which is under review by public-utilities regulators in Maine, New Hampshire, and Vermont.
The story, by Portland Phoenix managing editor Jeff Inglis, also reveals that, should the merger proceed, FairPoint’s financial plans include: