California Governor Pete Wilson Appointed to TelePacific Board; Los Angeles-Based Local Carrier/Internet Service Provider Also Receives $50 Million of Financing from GE Capital.LOS ANGELES--(BUSINESS WIRE)--Sept. 29, 1999-- Company Plans To Expand Its State-of-the-Art Voice and Data Telecommunications Service In telecommunication, the term telecommunications service has the following meanings: 1. Any service provided by a telecommunication provider. 2. throughout California and Nevada TelePacific Communications announced today the appointment of former California Governor Pete Wilson For others named Pete Wilson, see . Peter Barton Wilson (born August 23, 1933) is an American Republican politician from California. Wilson served as the thirty-sixth Governor of California (1991–1999), the culmination of more than three decades in the public arena that to the Company's Board of Directors. "We are extremely honored and proud," said TelePacific Chairman and Chief Executive Officer David Glickman, "to have Governor Wilson join our Board. During his service in Sacramento, Governor Wilson strongly and publicly urged both the Legislature and regulatory agencies to make California the leader in deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. of telecommunications and other public utilities. He repeatedly made clear his belief that free market competition benefits the consumer. He understands the challenges and opportunities facing an emerging local carrier/Internet service provider like TelePacific. We believe his political and business experience will add tremendous value to our Board." Governor Pete Wilson said, "I recognize that entrepreneurial companies such as TelePacific are critical to new job creation and the competitive spirit of California Amtrak's Spirit of California was created by California Governor Jerry Brown as a state supported Section 401(b) passenger train. It ran from Los Angeles, California, to Sacramento, California, via the Southern Pacific's Coast Line (via San Luis Obispo). . TelePacific, a rapidly growing new company, currently competes against virtually all non-California based companies providing local phone and Internet service in the Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. area. I am pleased to be associated with a California company that is pursuing the exciting opportunities created by deregulation. Both consumers and businesses stand to benefit from increased competition." Mr. Glickman explained that the strategy of the Company is, "to become a leading provider of voice and data services to businesses. We provide our customers with cost-effective solutions using our state-of-the-art telecommunications infrastructure. Our professionals analyze the unique voice and data communications needs of a business and offer innovative solutions that can be implemented in days. We are differentiating ourselves from local carrier giants by providing small-to-mid-sized businesses the kind of customer service they deserve--fast and efficient." The Company also announced that it has closed a $50 million credit facility with GE Capital. The funds will be used to expand the Company's operations throughout California and Nevada. It will enable the Company to hire more telecommunications customer service and technical professionals and buy additional switches. These switches will be combined with leased fiber-optic capacity to give the Company flexibility and reliability without the substantial up-front capital investment required to build a fiber-optic network. "Through our dealings with TelePacific, we became impressed with the company's strong leadership and business plan," said Michael Baum, vice president, GE Capital Telecommunication Financial Services. "Our $50 million commitment signifies our confidence in the company's strategy to deploy additional switches in urban areas and build its customer base." Ira Morris, president of TelePacific added, "We are gratified grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. that GE Capital recognizes our tremendous market potential. Our customers are already benefiting from Web solutions, superior connectivity and exceptional customer service, all at significant cost savings." Mr. Morris said that TelePacific's current customers include more than 60 of the largest Los Angeles and Orange County businesses. "Access to qualified support and individualized in·di·vid·u·al·ize tr.v. in·di·vid·u·al·ized, in·di·vid·u·al·iz·ing, in·di·vid·u·al·iz·es 1. To give individuality to. 2. To consider or treat individually; particularize. 3. services was unheard of in years past. TelePacific is changing the way businesses view their local carrier," he added. About TelePacific Communications TelePacific Communications is a "smart build" Integrated Communications Provider (ICP (1) (Internet Cache Protocol) A protocol used by one proxy server to query another for a cached Web page without having to go to the Internet to retrieve it. See CARP and proxy server. ) that competes with GTE GTE General Telephone & Electronics GTE Génie Thermique et Énergie (French) GTE Gas Turbine Engine GTE Global Tropospheric Experiment GTE Geothermal Energy GTE Gas Turbine Efficiency plc (Sweden & USA) Corp. (NYSE NYSE See: New York Stock Exchange :GTE) and SBC (1) (SBC Communications Inc., San Antonio, TX, www.sbc.com) A large, national telecommunications company that grew from a multitude of local and regional companies, including Southwestern Bell, Pacific Bell and Nevada Bell, into a single, unified brand by 2002. Communications Inc. (NYSE:SBC) in the local phone markets in California and Nevada. TelePacific serves the local and long distance voice, data, and multimedia needs of its corporate, university, hotel and hospital clients. Focused on small and medium-sized businesses, TelePacific provides a comprehensive package of telecom and high-speed Internet services, including DigitalVelocity(tm) DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary Access, web hosting and site development. About GE Capital GE Capital, with assets of more than US$300 billion, is a global, diversified financial services company with 28 specialized businesses. A wholly-owned subsidiary of General Electric Company, GE Capital, based in Stamford, Conn., USA, provides equipment management, mid-market and specialized financing, specialty insurance and a variety of consumer services, such as car leasing, home mortgages and credit cards, to businesses and individuals around the world. GE is a diversified manufacturing, technology and services company with operations worldwide. |
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