ELEC: this is an interesting post BUT has to be verified
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<<<Updated Information on ELEC (12/20/99)
eLEC owns 4mm shares of Access One (23%)
Access One is a DSL / UNE-P clec out of Florida and has over 65k lines under subscription. MCG, a debt facility partially owned by Goldman Sachs, provided $15mm in debt in June. They are over $20mm in annual revenues and growing by
over 1,000 lines per week. Access One is IPO candidate after Y2K.
eLEC owns 100% of Essex
Essex owns 225k shares of eLEC.
Essex is a DSL / UNE-P clec based out of Connecticut. Grew from 2,000 to over 10,000 lines in 3 months. They are operating in NY, NJ, VA, MA, RI, CT...a densly populated area of the US, and growing by 500-1,000 lines per week. They recently acquired an equipment service provider to help with expansion of infrastructure and quality of service. This company is also a future IPO candidate.
eLEC owns 100% of WebQuill
WebQuill owns 375k shares of eLEC.
WebQuill is an ISP that provides Access One and Essex customers with DSL and POTS internet access, web hosting, site development, and some inventory services. They recently selected infospace.com to host their QuillPages, an internet directory service. This company is also a potential IPO candidate.
eLEC owns 19% of RiderPoint
RiderPoint owns 250k shares of eLEC.
RiderPoint is an on-line recreational vehicle (nice niche market!) insurance sales. Recent PR show expansion of sales capabilities to include many additional states and soon will be operational in all of the lower 48 states. It is not known whether or not this company would be / could be a potential IPO candidate. Expansion to also include other financial services is certainoly a possibility loans/finance to facilitate dealers of recreational vehicles? Why not?)
eLEC owns 19% of SkyClub
SkyClub owns 120k shares of eLEC.
SkyClub sells satelite equipment and services for TV and digital internet access. This company has been very quiet since going live and not much is known about future plans.
eLEC owns 100% of TagAir
TagAir owns 150k shares of eLEC.
TagAir is a niche ecom seller of uniforms for the aviation industry. This company has also been very quiet. An expansion to include additional industries a possibility but pure speculation at this point.
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