If you're so disappointed, return the device and get something else, maybe an Android device.
No one here cares. Stop you're whining.
Time displayed on the device comes from the carriers network. If their towers are broadcasting the wrong time, then it will display incorrectly on the device.
Settings > General > Date & Time > Set Automatically > OFF
Or call Verizon and insist that they fix the time on their towers.
... I'm still within my 14 days of original purchase.
Then return it for a full refund. It's obviously not for you.
You have thirty days: http://store.apple.com/us/help/returns_refund
Update ... Manual setting does not resolve issue. Happened 6 times in one week on the manual setting. After 2 visits to the Apple store i have more answers. The LTE has to be disabled. As it switches in and out it supposedly causes the problem. That is why it is only happening to the 5. All towers are not yet compatible. It never happened on the 4. Hope this helps you diesel vdub. you were sort of right but not entirely. Over the last week Verizon is finally acknowledging they have to upgrade their towers. Just depends on where you are if the intermittent LTE signal will change your time. For now users cannot enjoy full benefit of LTE but they are at least working on it.