Here's the money quote: > Nearly all senior executives who worked with him before the IPO are gone, and more than 10 senior employees have departed in the past

Here's the money quote: > Nearly all senior executives who worked with him before the IPO are gone, and more than 10 senior employees have departed in the past year. If you want to retain good people, you need to give them real input and control. Senior managers were trying to prevent a disaster and Spiegel did not listen to them -- but even if every decision he made had turned out to be correct, his leadership style still would have alienated many of them to the point they would have wanted to leave. These are successful people who have no problem finding other opportunities.