On July 26, 2005, Brooklyn Chamber of Commerce President Kenneth Adams appeared before the New York State Public Service Commission (PSC) regarding the Verizon/MCI merger.  Following is his testimony in support of the merger:

Good afternoon.  I am Kenneth Adams, president of the Brooklyn Chamber of Commerce.  The Brooklyn Chamber of Commerce is a business assistance and economic development organization founded in 1918 to help Brooklyn businesses grow and to provide for the economic and community development of our borough.  Today we have some 1,300 Members, most of them small businesses, from every corner of Brooklyn, representing every economic sector and business type.

Thank you for the opportunity to speak before you regarding the proposed merger between Verizon and MCI. 

On behalf of the Brooklyn Chamber of Commerce and our 1,300 Members, we encourage the New York State Public Service Commission to approve the proposed merger between Verizon and MCI. 

We believe that this proposed merger will create a stronger, better integrated, more competitive telecommunications company whose enhanced capacity will, over time, trigger a competitive response from its industry rivals.  This, of course, is good for a competitive marketplace and for consumers.  And, as the PSC Staff White Paper makes clear, maintaining a competitive telecommunications marketplace must be a priority in reviewing this proposal.

Verizon is a leading New York State employer.  The company had $71 billion in revenues in 2004; and has some 35,000 jobs in New York State.  Verizon supports local communities all across the state and contributes significantly to the state’s economy.

Over the years, Verizon has been an active Member of the Brooklyn Chamber of Commerce, with company representatives serving on our board of directors, on various committees and assisting with our advocacy program on behalf of all Brooklyn businesses, both here in New York City and in Albany on state-wide issues.  In Brooklyn, Verizon has, for many years, played a leading role as a major corporate citizen of our borough.

The availability of reasonably priced broadband products and services along with wireless and wireline services is crucial to the vitality of the 45,000 businesses located in Brooklyn today.  We believe in the enhanced capacity of the Verizon/MCI merger and are encouraged by the prospect of the new merged entity serving the borough of Brooklyn.   
 
We respectfully ask the Commission to approve Verizon's acquisition of MCI.

Thank you.

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