With T-Mobile generating buzz after announcing its new Simple Choice Plans, it appears other wireless carriers are taking notes. During a company event Wednesday in New York City, Verizon CEO Lowell McAdam said he’s open to the idea of ditching contracts. McAdam has been monitoring what T-Mobile customers have been saying and even said that if Verizon customers started asking for no-contract plans, he’d consider getting rid of them. However, as the saying goes, “Actions speak louder than words”. While no-contract plans sound great, there is a potential downside. With T-Mobile’s new plans, removing contracts means customers have to pay anywhere from $5 to $20 per month per device over 24 months to make up for the lack of a contract.