'Portfolio' shares the Ichan theory, which he shared yesterday at the World Business Forum, to a room of 750 CEOs. Brilliant and ballsy! Many college kids seek refuge in their fraternities or clubs (when Icahn tells it, "sorority" is conspicuously omitted) for a friendly face. Without fail, the president of the club, who never seems to open a book, is there to cheer them up. He's a nice and friendly guy, the kind of guy you want around to make you feel better with a beer or a game of pool. Not surprisingly, that guy goes into business. He's never the smartest guy in the room, but he's likable and he's a survivor. He moves up the corporate ladder, without a single original idea that might make his boss feel threatened by his potential. Eventually, he gets to be the #2 guy at the company. He's a little dumber than the C.E.O., but the board likes him, so he eventually gets to be C.E.O. Of course, he assigns a #2 who is a little dumber than he is. "And eventually, we're going to have all morons running our companies," Icahn concluded. "We might not be that far off from that right now." http://www.dealbreaker.com/ Once again, dealbreaker hit the nail on the head ! LOL