Leon Gettler wrote recently The Boss is an ass.
He was referring to a Melbourne Business School survey. He notes

Rankings of the chief’s competence and understanding of the business have plummeted over the past three years, from 4.36 per cent to 1.55 per cent. This was once the highest-rated quality, but is now the lowes

Interestingly, baby boomers are more likely to rate their boss higher than their Existentialist (born between 1955 and 1963) and Gen-X (born between 1964 and 1979) colleagues.
I wonder if this is a cultural difference rather than an actual difference. Perhaps baby boomers are still somehow attached to the idea that you should think highly of your boss. As more Gen Xers become managers, they are more prepared to call it as it is and say they think their boss is no good.
So the phenomenom the Melbourne Business School survey has identified has to do with increased honesty rather than decreasing levels of performance of CEOs?
Food for thought.