What do some of the year's worst business and political leaders have in common? Merrill Lynch Chief Executive Officer John Thain, General Motors CEO Rick Wagoner and North Carolina Sen. Elizabeth Dole share an outsized sense of entitlement, according to leadership consultant John Baldoni. "Leaders need to think well of themselves; otherwise, they wouldn't be capable of leading," he says. "But when that sense of self overwhelms the needs of the organization, they have failed in their duty."

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