By Douglas A. McIntyre
It’s the middle of the year, and by now, most large public companies have reported financial results for the second quarter of 2011. Some of the figures have been terrible — in many cases worse than expected. In the case of a few large companies, the horror of this year is an extension of several years of declines. The CEOs at many of these most troubled companies have been in place for a long time and investors have to question how they keep their jobs. Eventually, performance has to count, even in sectors in which the overall environment is poor.
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