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Why CEOs fail.

What got Eckhard Pfeiffer fired? What fault did in Bob Allen? Or Gil Amelio, Bob Stempel, John Akers, or any of the dozens of other chief executives who took public pratfalls in this unforgiving decade? Suppose what brought down all these powerful and undeniably talented executives was just one common failing? It's an intriguing question and one of deep importance not just to CEOs and their boards, but also to investors, customers, suppliers, alliance partners, employees, and the many others who suffer when the top man stumbles. The answer even matters to the country; America is the world's most competitive nation, thanks in large part to the overall high quality of its CEOs. If people knew how to spot CEOs headed for failure--even if the company's results still looked fine--they could save themselves much pain. Trouble is, they usually look in the wrong place.