Verizon CEO: Our NY wireless problems are nearly fixed

Verizon has been "fortifying" its wireless network in New York city and addressing the coverage problems there, according to CEO Lowell McAdam.

"We're now back to where we want to be," he said. McAdam, however, specifically referred to the issues in New York, which he called "its own beast" of a market. The company identified 49 cell sites in the New York area that have been overwhelmed with the traffic. So far, Verizon has addressed 42 of those problematic sites and begun deploying additional spectrum, which will ease the capacity constraint and likely yield higher speeds. "We have a plan to stay ahead of that," he said of the expected growth in wireless traffic. "I think it's a short-term blip."