Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Verizon Communications Inc. (VZ) Makes OSHA’s Naughty List

Verizon Communications Inc. (NYSE:VZ), the largest wireless phone network in the U.S., has reached a prestigious list. Prestigious in that only a little more than 300 of the nation’s companies make it. It has a technical name, but we can call it the OSHA Bad Boys List.

Verizon Communications Inc. (NYSE:VZ)

In 2010, the Severe Violator Enforcement Program (SVEP) was created by the Occupational Safety and Health Administration (OSHA) with the goal of providing touch sanctions on repeat or egregious violators of the Occupational Health and Safety Act in regards to ensuring a safe working environment for employees. As of the end of June, about 330 of the country’s businesses were on the SVEP list, and Verizon Communications Inc. (NYSE:VZ) found its way on the list thanks to an incident in the spring that cost a worker his life.

A Verizon worker was electrocuted and died in March when he came into contact with high-voltage power lines. As a result of an investigation, OSHA determined the fatality was preventable. OSHA cited Verizon Communications Inc. (NYSE:VZ) with repeat violations like failure to provide workers with rubber gloves when around high-voltage lines. Verizon was also cited for supplying adequate safety training for employees or instilling safe practices at work sites. Verizon Communications Inc. (NYSE:VZ) was also charged with keeping poor or false safety records – in one instance a fatality was recorded as just a injury, for example.

The focus of the SVEP is on inspecting employers that have a record of failure to meet OSHA obligations through deliberate, chronic violations or show a failure to mitigate safety hazards. Companies which are on the SVEP list will have increased inspections and increased fines for safety violations during the three years they are in the program.

Safety violations would be something of a concern for the employees at the company, and would be a public-relations problem for Verizon Communications Inc. (NYSE:VZ) and could affect investors’ attitude toward the company – investors like hedge-fund manager Ray Dalio of Bridgewater Associates.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.