John Frazee: A Real Page TurnerBy
Since taking the helm at Paging Network last August, CEO John Frazee has sent out the signal that the nation's No.1 beeper operator had to change course. Its cut-rate pricing has helped PageNet boost its pagers in service 54%, to 10.3 million, since December, 1995. But the company has yet to turn a profit. So on Feb. 9, Frazee said PageNet would slash 30% of its staff--or 1,800 jobs--for a first-quarter hit of $65 million to $80 million. Says Frazee: "High growth that's not profitable is not good for anyone."
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