 Hey guys, Ken Ross here, and I'm a business consultant that specializes in reducing costs for businesses By looking at their essential expenses and today I have a question for you today Did you get it and no I'm not talking about the coronavirus? I'm talking about this email from Verizon wireless. It's the email that talks about the economic Adjustment charge right this is outrageous, right? Why would Verizon? After all that we've been through here in the pandemic want to start charging more for its service Well, I'm gonna try to break it down a little bit and I honestly have an opinion on why this is But let's get into this a little bit if you are a Verizon business customer and you happen to get this email I got this email about a week ago, and I read over it very carefully Why I would do that or part of the reason right that you want to do something like that Is to really understand the language of what it is. They're trying to deliver here So let's let's let's take a look at what what they have to say here So the first thing it says is our number one priority is to provide Exceptional service to your business and consistently deliver the quality and reliability that you expect from Verizon business Now this is a pretty big claim, right? They're claiming that That's what they want to continue to do and in order to continue to do this They're going to launch into this explanation on this charge now I know when I read it initially I think about some of the times I'm with I Spent working with other Fortune 500 companies and I can tell you language is everything the way you deliver a message is everything and Verizon Is no exception here, right? Let's continue on Fully invested in your success. We work every day to maintain competitive prices Often absorbing increases that we incur this current economic the current economic conditions Impacting businesses worldwide continued amount and despite our best efforts to mitigate further impact We intend to offset a portion of these costs by implementing the economic Adjustment charge now there you have it right there black and white They can no longer afford to remain competitive in pricing. So they issue this charge I should have to think that There isn't more to this and I'm going to talk about why I think there's more to this in a second, but Man, I just can't even I can't even put to words why I think this is just so predatory in some sense you are Spending a lot of time and effort to to come up with a charge That's well within the bounds. I guess of Verizon to do this contractually because obviously this is something that they thought about In boardrooms and they you know They've had the ability to mill over before sending us out and this is what they've chosen to do now I'm going to get up to a little bit about why I think this is in a second But let's let's talk about the last of the the next paragraph If you haven't read this email or if you got a copy of this email This is the this is the part of the email that would just make you crawl. So here it is beginning June 16th Verizon business will add the charge to newly activated and upgraded lines Existing lines that have completed a contract Based line term and lines that have 12 months or fewer remaining on a device Payment plan agreement the amount of this charge is $2.20 per line per month for each smartphone and data device and 98 cents per month per line for each basic phone and and tablet device as Lines meet these criterias the charge will be automatically added to your bill you can find the economic adjustment charge in the other Charges and credits section of your bill now It's very important That as a consumer You check for this charge. It's also very important that you follow up with their claim here Are you being charged $2.20 and is that all the charges because? From what I understand of bills right and from what I what I've gathered of studying and researching these things It's not just the two dollars and twenty cents. It's two dollars and twenty cents plus the tax in Your state your $2 and 20 cent charge per line as it racks up could be 10 20 30 depending on how many lines you have it could be a significant increase to your bill now What can you do about this right because honestly? Here's what I really think is going on with Verizon Verizon has added up the numbers right because the government has passed this infrastructure bill and included in the infrastructure bill is $65 billion that's with a B for broadband and 5g right and They've been talking and they understand kind of what's coming right what is Going to be provided to broadband providers including Verizon wireless when it comes to this and how can we leverage? Those funds to continue to advance our agenda in 5g and there's not enough there So they have to come up with some way to raise funds and this is the way that they're choosing to do it now What is what is it that we can do about it? We can certainly do a lot of things now. I know I Talk a lot about this on my channel But we really need to stay committed to mitigating these types of things And the only way you're going to do that is to follow some of my steps I I include them in a series and I'm going to put that on this side of the screen over here that talks about How to best save money today. The first thing is talk to your friends Ask them about this email say hey, did you get this email from Verizon business? Let me talk to you about it Let me break it down. I got a copy of my bill. It's on there Get that did you get the charge and why didn't you get the charge? Let's let's understand it right because Verizon has a way with language, right? They're saying hey, this is okay You know just take the two dollars and twenty cents and be happy because we're going to continue to drive good service But you can definitely fight back by sharing information. The other thing you can do is you have every right? Given that they sent you an email To send an email back or to communicate in some way back to Verizon wireless and say hey What are these charges? Help me understand this when it comes to my bill? I'm I'm a little confused Maybe I need to make some economic adjustments of my own because honestly I don't want to pay and I'm not in a place to pay an extra two dollars and twenty cents per line And and think about it this way right as a bigger corporation Let's say you're a much larger corporation And you have hundreds of phones and this two dollars and twenty cents is being added to every one of those phones You'd be in a different place financially Having to afford to pay Verizon even more money to keep the same service for your Employees it's it's definitely something to have a conversation with a Verizon rep with if you have a good Verizon representative It's always something it's always an easy Thing forward on the email and say hey, what is up with this charge? I want to understand how that affects me as a consumer because I Can't I can't make heads or tails this I got a budget this this is something that's important to me And he's gonna make he or she is gonna make that important to them as well They're gonna try to give you an answer that can help you make good decisions because they don't want to lose you As a customer they certainly want to charge you as a customer So I would think that that would help with their quality of service, right? They say they want to deliver good service lastly think about this. What would another carrier do in this situation, right? What can you get in? Comparison to another with another carrier That's the third step in my process and I can guarantee you this that there are many boardrooms Outside of Verizon wireless the T-Mobile but boardroom or the AT&T boardroom where they are sitting down and they are talking about this charge and What it's going to do to the customer base ever eyes and wireless and also what is it gonna do to their customer base? They have to consider what this means to them, right? They they're going to Look at the dollars and cents and say hey look Verizon did this and they were fairly successful or they weren't right? Because we're going to offer incentives to Verizon customers We're going to talk to them about this charge and say hey Are you fed up with Verizon nickel in diving you will come to T-Mobile and we won't do that And we'll offer 5g and we'll offer the same great coverage and we'll give you great service That is something you need to consider as well What does another carrier really look like because you should be in the market? to Be able to compare what each carrier has and be able to be in a position where you can leverage The advantage of one carrier versus another because I know for myself when it comes to this I have a plan and I still plan and I was planning this before this charge even came out to Mitigate my losses when it comes to these charges and if I see this on my bill, I know I'm going to continue to execute on that plan. So with that that's what I have today I really thank you for your time. I know sometimes I ramble on here And I and I bring a lot of things, but I really feel like this is important to businesses It's a good lesson in understanding that you can always fight back. There's never a Place where it's like oh, I just got to sit down and take it You shouldn't sit down and take this you should be upset or you should be Strategizing or planning what it is that you need to do to mitigate this type of thing And I want to be able to to be here and and kind of have a discussion and say hey look this is important What are we going to do about this as consumers because Verizon thinks they can get away with just charging us more money and Saying it's an adjustment. Well, I want to adjust them. That's just kind of my thing So please put down in the comment section below on this video What you think about this charge if you're getting charged the economic Adjustment charge if you've been able to locate it on your bill would love to hear your feedback on this I also love to hear your feedback on what other topics I can cover. I spent a lot of time researching things and I spend time Spitting out all this information on video and and embarrassing myself sometimes to bring you this relevant information I really love doing this because this is something I think is very useful to businesses the sharing of information And I want to continue to see it grow. So please tell me what topics of discussion You would love to hear on this channel and I'll do more research and I will bring them to you I love doing that. Tell your friends about this channel. Let them know. Hey, it's here. If you aren't subscribed Please subscribe Please like and share this video with your friends and visit my website I am Ken Ross calm and until I see you next time. I'll see you around