By James Caldwell, Torch assistant editor

Yep, it's about that time. The McMahon Vanity Hour returned to WWE television on Monday night, with a central story of C.M. Punk vs. John Cena turning into a central story of Vince McMahon vs. himself.

McMahon's business, McMahon's ego, McMahon's stars, McMahon's brand, etc. It's McMahon's therapy session with his own stage on his own time with his players manipulated to tell his story for his amusement because he's the central star of the show.

Behind-the-scenes, McMahon has been described as manic and obsessive. Talent have been frustrated since WrestleMania (and beyond). McMahon's creative instincts and decision-making is clearly lacking. If he's going to drive himself mad, he's taking everyone else with him.

So, how has WWE arrived at this position? Let's examine a few of the numerous issues in-play.

-- The annual post-WrestleMania lull means McMahon traditionally involves himself in key storylines (limo explosion, DX feud, McMillion Giveaway, Trump feud, introduction of Raw GM, Nexus involvement).

-- Cracks are starting show in the TV programs, most notably Smackdown (with the failed attempt to position a great #2 in Randy Orton as an awkward #1 face). It's now carrying over to Raw, which can't pop a rating, much less sustain a rating.

-- McMahon is losing his grip on the "don't call it a family business" family business.

-- The Rock won't come back until April 1, 2012 and Rock will make more money in movies this year than WWE Studios will make in several years.

-- When business is tough, McMahon turns to what he knows: big men. Unfortunately, WWE doesn't have a ready crop of big men ready to go and Batista isn't walking through that door just yet. It's an indictment of WWE's developmental system and a reminder of McMahon's predatory practices coming back to bite him because the wrestling talent pool is dry.

-- McMahon doesn't want to take the time to build new stars or fix fundamental booking problems, meaning another patchwork job is required. When you need a quick fix and the same old stars aren't working, people aren't returning your call, or Jericho is off in Europe staying away from your insanity, you turn to yourself.

-- McMahon has to prove to himself (because no one else cares) that he was the driving force behind Hogan, Austin, Rock, and Michaels, who have all been referenced the last two weeks on Raw. As a result, McMahon is trying to re-create another McMahon vs. Austin feud in the form of McMahon vs. Cena. It's not going to work, but, as McMahon said on Bloomberg last week, he will "die in his chair" trying. And he'll take the business with him.

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