COVID Stimulus Watch Individual Entry
Recipient Company:
VERIZON COMMUNICATIONS
Loan or Loan Guarantee Amount:
$5,260,263
Recipient Details
Ownership Structure: publicly traded (ticker symbol VZ)
Award Details
Award Date: Jul 10, 2020
Award Type: loan
Award Details: Amount represents the purchase price of company bonds bought by the Fed.
Program Name: Secondary Market Corporate Credit Facility
Legislation: CARES
Awarding Agency: Federal Reserve
Data Source for Award:
https://www.federalreserve.gov/publications/reports-to-congress-in-respo...
Parent Company Data
Parent Company: Verizon Communications
Headquartered in: New York
Parent Sector: telecommunications
Parent Industry: telecommunications
Employees (prior to pandemic): 135,000
Accountability Issues Since 2010
Employment-related Penalties: $57,163,258
Government-contracting-related Penalties: $95,625,410
Environmental / Healthcare / Safety Penalties: $3,117,398
Consumer Protection / Financial / Competition-related Penalties: $1,018,754,585
Ratio of CEO Pay to that of Median Worker: 151 to 1
CEO Compensation: $18,111,823
Worker Median Pay: $172,971
Total Federal, State, and Local Subsidies: $44,874,585
Federal Corporate Income Tax Rate: 11.8%
Violation Tracker
Tax / Subsidy Issues