My name is Daniel.
Besides taking the battery out and putting it back in. Have you tried anything else? I am asking so I don't provide duplicate information.
Also, the rapid flashing of Verizon indicates a completely drained battery (among other things). If your battery was low when you powered it off, then it's very likely that it completely drained during power up (batteries take a big toll when powering up). Try plugging it in the wall and tell me if it starts charging or if the screen stays flashing.
Try plugging it into the wall without the battery. Will the phone power on?
Ok, at least this points to one thing. You almost had me stumped there! A bad cell in your battery will cause your phone to flicker, this is also why I first thought that your phone must have been fully drained. A bad cell will cause your phone to completely drain and then be unable to charge back up, almost like a car battery. Since your phone is able to stay on longer without the battery in the phone, this is indicative of a bad battery. Just visit your dealer for a new battery or look online for a replacement (which is much cheaper) and that should solve your issue.
Please let me know if you have further questions.
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It's possible that items in your purse could continuously have been poking at the buttons on your phone, thus making the backlight come on and off which would rapidly drain your battery. This, however, would not cause a bad cell. Don't get me wrong, it COULD have been the cause, but there's no evidence so far in the wireless industry that pressing of buttons over time causes bad cells in batteries.
Well that is great news. Happy they were able to troubleshoot the issue.
Have a great day.