Eat Your Heart Out, Ross Perot

When phone company Centel Corp. sold out to Sprint Corp. for $3 billion in 1992, John P. Frazee Jr., the company's chief executive at the time, thought he was entering a "marriage of equals." Things didn't work out that way. While it was understood that Sprint's hard-charging William T. Esrey would keep the top spot, Frazee says strategic and operational differences prompted him to quit the combined company after only five months. "It didn't turn out like I thought," says Frazee, declining to elaborate. He now raises horses and cattle in Florida.

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