Can Craig Mc Caw Be A Local Hero?

Now he's using his megabucks to build a phone network

When three top AT&T executives jumped ship to rejoin their former boss, Craig O. McCaw, at his new company, OneComm LLC, the lure wasn't fat paychecks. Execs Wayne M. Perry and Steven W. Hooper aren't even receiving salaries--only equity in the new company. Instead, the trio leapt at the chance of another entrepreneurial adventure with McCaw, with whom they built a cellular empire that AT&T bought for $11.5 billion in 1994. "There are some valid analogies to the startup of McCaw days," says Perry, the former vice-chairman of AT&T Wireless Services and now chairman of OneComm. "The only difference is Hooper has no hair and I'm a little grayer."

To continue reading this article you must be a Bloomberg Professional Service Subscriber.