Verizon President Quits

Verizon (VZ Quote) President Larry Babbio calls it quits.

The vice-chairman of the New York phone giant says he will retire sometime in the first quarter.

Babbio ran Verizon's business services unit as well as the company's conventional phone operations. He had worked for Verizon 41 years, including his stint as operating chief of Bell Atlantic prior to the merger with GTE.

Babbio had been one of the company's most public supporters of the costly fiber-optic expansion plan called FiOS. The multibillion dollar effort helps add video to Verizon's service offering and a crucial triple play to counter cable companies that offer phone and fast Internet service. ...