Having known many a CEO, mostly of the entrepreneurial sort, I can confirm that most are, as they say in the Midwest, good people. Obviously you find your share of holes.
You know I'm a person of several peeves, and one is the exec (or anyone) who thinks s/he's better than you and justifies behavior with, "I don't have time to [whatever]."
Steve Crescenzo appropriately calls BS on this as it relates to communicating to employees. I'm sad to read he found the lesson as a result of such a loss, but the point is first-rate. Of course you have time -- if you don't, you're not doing your job.