Phil Condit was a shining example of the "Peter Principle" in action. Any rational person would know that negotiating the details of a merger between two multi-billion dollar companies over a weekend in a hotel room was a bad idea - but not Condit. The guy was in
way over his head, but didn't know it.
I still remember when I heard that he'd been forced to resign - I was driving into work early in the morning when they announced his resignation. I yelled "YES!" and punched the roof of my car with enough force to hurt my hand. Then the other shoe dropped - 'and will be replaced as CEO by Harry Stonecipher'.
OH
!