Verizon Comments on Damage Caused by Irene

Several companies are still assessing the damage caused by Irene, as the hurricane storms through the U.S. East Coast. Benzinga contacted Verizon VZ yesterday to find out how the company's network survived the storm. Verizon's spokesperson responded that “Overall, our landline network survived Irene well. We must replace a number or poles, and we have some facilities damaged by water and wind, but our teams of technicians are out making repairs. Most of our facilities are on backup generators or batteries that enable us to provide voice phone service even though the power is out in some areas...” She also stated that the restoral efforts will be easier as more roads open up and when the power company manages to restore its service. Overall, it is estimated that the damage caused by Irene may reach 7 billion dollars. Most of this damage was sustained in New York and New Jersey, as these states had the most valuable property in the storm area.