Not at all compatable on ATT. Verizon is a CDMA network and ATT is a GSM network.
Actually, the 4S might have a chance of being used on a GSM network. From what I've heard, Apple is using a radio that does both GSM and CDMA (I'm assuming so they don't have to make multiple devices. From Googling, it looks like it's so you can use the phone in other countries too). If the phone was bought unlocked from Apple (at full retail) then it might work on AT&T (not entirely sure but it should if it has a SIM card slot). If it was bought on contract, have the current owner call Verizon and see if they'll unlock it.
Whoa.
Really?
Your logic is plausible, but what are really the odds of Verizon unlocking it? (It was purchased through Verizon, I believe.)
Plus, lol, this friend still hasn't contacted me, so I've just about given up :-/
But thank you!

Goat, care to refute like you do so well? lol