Last Updated: October 20th, 2014
Update 10/20/14: As you may have already realized, the big Wear update hasn't come out yet. Delays do happen. According to several sources we've spoken to, Google will announce something soon, and the update likely got pushed to early November, possibly to coincide with the final Lollipop release.
Yep, you're reading this right: Android Wear 2.0. It's happening - and soon. According to an unnamed source, we're going to see OTA updates for some Wear devices on or around October 15th.
Last Updated: September 4th, 2014
Update, 9-4-13: a Verizon Wireless spokesman reached out to say that the wireless provider hasn't been fined by the FCC, and that the landline services provider (providers of home Internet and cable services) is the one being fined. Verizon and Verizon Wireless are technically separate companies. The headline and story text have been altered to reflect this.
There are a lot of good reasons not to like Verizon. But the Federal Communications Commission has taken particular exception to at least one of Verizon's practices from way back in 2006.