Trader, I totally agree with you. This was a well explained post.
To another comment about leaving. I think it is easier said than done to just leave. Each and every person over here has different family circumstances where you simply can't pack up and leave. Most are not single anymore and can't take a pay cut, interrupt family life and just start over again. This doesn't mean they have to shut up and take it.
I find it very disturbing that people, particular the management works with the motto "if you don't like it, then leave." This is such a disrespectful and unprofessional response to give to those that work for you. Especially to the senior guys. The guts these people have.....wow. Seniority really means nothing here.