Eagle Broadband reorganizes ClearWorks home subsidiary

Monday, April 1, 2002

LEAGUE CITY, Texas-Eagle Broadband has reorganized its ClearWorks installation subsidiary into separate divisions, moved locations and cut the workforce to reflect the new efficiencies.

The residential installation company, which merged with Eagle Broadband in February of 2001, was one company that had two distinctly separate missions, said Manny Carter, president and chief executive officer of Eagle.

One aspect of the company was ClearWork's Home Systems, which focused on wiring the new homes in the company's targeted residential development market with Cat 5 and security wiring. The other focus of the company was the communications group, the entity that was responsible for the deployment of Eagle's Bundled Digital Services package throughout the gated communities, from planning where to lay in the lines and trenching and connecting customers as they signed up for the BDS offering. The Home Systems market called on builders for their customers, while the communications division went straight to the consumer, Carter said.

"We wanted to get the focus better placed on our customers so we divided them into two divisions," Carter said. Home Systems is now a stand-alone Eagle subsidiary, he said.

The company was able to reduce ClearWorks original workforce by one third, with a bulk of the positions in management and the remainder in technicians and installation personnel. The company has hired some additional personnel with different skill sets, Carter said.

Eagle also moved a sales/call center from Houston to Eagle's corporate headquarters.

The company also recently changed its ticker symbol from Eagle Wireless to Eagle Broadband; its ticker symbol on the American Stock Exchange will continue to be EAG.

Shannon McLeroy, chief executive officer of ClearWorks, has left the company.