... The fact that middle managers think their companies are mismanaged is particularly alarming.

People were way overstating the amount of skills they had.

Even in tough economic times, when most companies cut back on training and on relocating people to develop their skills, these companies keep right on doing it. That gives them a broad pool of people to promote. And it helps with retention, too, because employees can see long-term opportunities.

They challenge their people early and often, and move them around more than in most companies. They don't want anybody to get too comfortable in one job.

Over the years, George has been one of the most successful equity portfolio managers in the financial services industry.

As a company's fortunes fare, so do the CEOs and other top managers, and that is the way it should work in the business world,