Thanks for writing this. I've been thinking about it a lot after working directly with some very rich yet completely incompetent owners. There should be a commission or something that either investigates, rates, or revokes business licenses for companies with terrible CEOs. Kind of like a credit rating. It's a shame banks keep feeding these guys just because they haven't gone bankrupt yet.
A telltale sign is turnover. They say people don't leave companies,they leave managers. My last company had nearly 100% turnover every two years! That should be a big red flag to investors. In fact, they would collapse sooner if not for new talent who try so hard.
Bad CEOs are bad for the economy, bad for efficiency, bad for our culture, and bad for our health. When will the business and political world wake up to this?
What can we do?