Boblita, thanks for that link - it formalises a theory I'd half worked out about why my boss is always dumber than me. It's especially valid for engineers - we all know that we reach a point at which the only way to get more pay is to take a management job which we won't be any good at and we'll hate.
I think I should shave my head and grow some pointy bits....
Actually, it's known as the Dilbert Principle: http://en.wikipedia.org/wiki/Dilbert_Principle
The Peter Principle implies that the managers were once competent employees, and I don't think that's the case here.