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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By Douglas A. McIntyre
