(FORTUNE Magazine) – Hey, Republicans! Still smarting from Dick Cheney's withdrawal from the 1996 presidential race? Get over it. A bevy of top business brass has already cast ballots elsewhere.

Senate Majority Leader Bob Dole seems to be the corner office favorite. Dole has already secured support from KKR's Henry Kravis, Paine Webber's Donald Marron, and oil patch stalwart T. Boone Pickens, among others.

Texas Senator Phil Gramm, who has raised the biggest stash of campaign cash--nearly $10 million--has bagged National Review President Thomas "Dusty" Rhodes and investment ace Lewis Lehrman, a former managing director of Morgan Stanley. Lending support to Tennessee Governor Lamar Alexander is Memphis-based Federal Express CEO Fred Smith, while Jack Hennessy, head of CS First Boston, is throwing a fundraising bash for the Southern hopeful in Manhattan.

Dark-horse candidates need help from civic-minded CEOs. Pennsylvania Senator Arlen Specter, who's raised just over $1 million, has been backed by home-stater John Tait of Penn Mutual Life Insurance. Indiana Senator Richard Lugar, with just $500,000 in his coffers, enjoys the support of childhood pal Bill Ruckelshaus, now CEO of Browning-Ferris Industries. Admits Ruckelshaus: "He's a long shot now-but there are many months before the nomination."

California Governor Pete Wilson won't lack for cash or CEO backers should he jump in. Says Wilson's longtime political adviser, George Gorton: "He had over 100,000 people give him $23 million in the last two years; a large percentage will support him in the future."

As for Clinton, a Democratic National Committee spokesman says it's still early for CEOs to publicly support the President. It's never too early for the GOP.

- Jacqueline M. Graves