COVID Stimulus Watch Individual Entry

Recipient Company:
Verizon Communications Inc
Loan or Loan Guarantee Amount:
$5,803,199

Recipient Details

Ownership Structure: publicly traded (ticker symbol VZ)

Award Details

Award Date: Aug 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 icon
Employment-related Penalties: $57,163,258
Contracting icon
Government-contracting-related Penalties: $95,625,410
Environment icon
Environmental / Healthcare / Safety Penalties: $3,117,398
ConsumerProt icon
Consumer Protection / Financial / Competition-related Penalties: $1,018,754,585
CEOpay icon
Ratio of CEO Pay to that of Median Worker: 151 to 1
CEO Compensation: $18,111,823
Worker Median Pay: $172,971
Tax icon
Total Federal, State, and Local Subsidies: $44,874,585
Federal Corporate Income Tax Rate: 11.8%
Subsidy Tracker
Violation Tracker

Details on Accountability data sources

Accountability Issues

Covid Stimulus Watch provides accountability data on CARES Act recipients in the following categories:

Employment iconEmployment Issues

Tax iconTax / Subsidy Issues

Contracting iconContracting Issues

Environment iconEnvironment / Safety Issues

Consumer iconConsumer Protection Issues

CEO pay iconCEO Pay Issues