Could be that it keeps getting stuck on the Verizon Cloud part of the set up. Just press the back key and it should ask, "Are you sure you want to stop set up wizard." You can go back to it later. It isn't a necessity.
I've tried restarting the phone and taking out the SIM card, but the process just starts again. Where is the back button? This is a new phone and I'm not sure how to use all the functions yet.