Is it possible to have a block of content on a taxonomy term page? If I have taxonomy of company and term companyx when I visit www.sitename.com/company/companyx I get a list of posts with that term // vocab. Is it possible to put a block of content above the posts? Or is there another better way of creating 'landing pages' for the taxonomy terms? On Drupal 7.
One way to change the output of these pages is to use a module like Taxonomy Views Integrator. This will allow you to create any number of views for different vocabs or even specific taxonomy terms and drive the presentation of the taxonomy output. I use this regularly to override the default term page and present different layouts of content (typically powered by view modes).

Another way to approach it (creating landing pages) would be to create a content page representing that taxonomy page, then drop a TVI view block on this page under the main content. You could also use Panels to do that, but I don't use Panels, so I can't speak to that.