Verizon CEO optimistic despite economic crisis

Verizon Communications CEO Ivan Seidenberg is confident that his company and much of the communications industry will make it out of the current economic crisis unscathed. On Tuesday he brushed aside concerns that the credit crisis and an impending recession will have a big effect on Verizon's bottom line. So far, the company hasn't seen a significant drop in subscriptions or revenue, he said. Seidenberg's confidence is bold considering that most technology companies, even his own, have taken a beating in the stock market over the past few weeks as banks hoard cash and refuse lending to each other. But he said that the credit issues happening today will have little effect on his company or the communications industry in general. As for the broader economy, which also looks to be heading toward a recession, he is also optimistic.