percent of the workers supported a walkout if a contract was not approved by midnight on August 2nd. But a funny thing happened on the way to a strike. As the company flew in managers to New York City and had some 30,000 potential replacement workers waiting in the wings, the midnight deadline came and went without a deal, but the union didn't strike. The company's managers had good reason to expect a walkout. It had endured an 18-day walkout in 2000 and worked its way through a 17-week-long strike in 1989. The company's profitability gave the union its strongest argument to press for a new contract - Verizon took in $67.6 billion in revenue in 2002, the highest in the industry. Profits were $4.1 billion. The threat of a strike didn't last long, however, as in September, the two sides came to an agreement, which includes wage increases of 3 percent every year for five years, a $1,000 annual cash bonus for some technicians and a provision that will protect employees with more seniority from layoffs - a key issue that the union said had been stalling an agreement. The contract also included job security and health benefits wins for the union. Selling out? In February 2004, word leaked that an acquisition of Verizon Communications could be on Vodafone's agenda, as it seeks to gain sole control of Verizon Wireless, its joint venture with Verizon. It was rumored that Vodafone could pay up to $150 billion for Verizon and its wireless business, in which Vodafone already holds a 45 percent stake. The deal quickly unraveled, however. Earlier in 2004, Vodafone made a serious attempt to buy AT&T Wireless Services for $38 billion, a move that would have compelled it to pull out of the joint venture with Visit Vault at www.vault.com for insider company profiles, expert advice, VAULT CAREER career message boards, expert resume reviews, the Vault Job Board and more. LIBRARY Vault Guide to the Top Telecom Employers Verizon Communications Verizon. Having lost its bid for AT&T to Cingular Wireless, (which paid $41 billion), Vodafo