Surely the mark of a good business "person" is to be able to recover from such bad periods?! Yes he made bad decisions, but I doubt there aren't many entrepeneurs/CEO's/Presidents that haven't. In order to be successful you need to take risks - some come off, some don't - that's life.
Laying off staff? Its the most effective way to cut costs. Yes it's not nice for those made redundant, you get bad press but you stay in business! If he hadn't laid off "X" amount of staff then the firm would of gone bust and "3X" of staff wouldn't have a job.
As I said earlier, I don't particularly like the guy, but to say he is "incapable" of running a business is absolute rubbish. £800 million says I'm right