Here is my take on how this should have been done:
1) Eric Bischoff needs to be a straight heel. Hogan needs to be a semi-deluded tweener. Jarrett needs to be a face who recognizes that he has an asshole past. Foley should be a broken down face who has just been lied to way too many times. Bubba is just a douche.
2) Eric should be doing most of the arguing. He should be the one doing all of the fighting, with Hogan trying to support him in the interest of doing what he thinks is the best for TNA. Eric is the one who should s*** all over Jarrett, his past, TNA's past, and should treat Foley as a broken down never was who should be limited to wrestling in armories in front of 20 people. It fits his past character best, and the fans might come to love him for it since that has always been his role.
3) Hogan should be the source of Bischoff's power. He should be interested in boosting TNA's potential and NOT, and I cannot stress this enough, NOT cutting negative promos about where TNA was or about anyone whose past is tied to TNA's past. It is clear that he expects people to eat up his every word because he is Hulk Hogan. Thing is, he has seen enough times in the past that if he shovels crap for them to eat, the crowd will just throw it back at him despite who he is. He needs to be the one interested in helping Bischoff bring TNA to the top, but is hampered with the obvious feeling that Bischoff is pushing his luck by saying the wrong things at the wrong time.
4) Jarrett needs to be the guy that realizes that at times his actions have hampered the ability of some of TNA's upstarts to gain enough footing to become more mainstream stars by having fair shots at the top. Despite that, since his wife's passing Jarrett has changed his approach to things, and many long term fans realize and appreciate it. Therefore, he needs to be the guy who while not trying to stand in the way of progress is doing his damnedest to fight for the guys that got TNA where it was before Dixie brought in Hogan. Hogan should not be his enemy, but the guy who Eric hides behind and takes shots at Jarrett.
5) Foley should be the guy who has two major problems. First, his character has been lied to and abused so often in his past that he was only interested in coming to TNA if he could control his environment in order to protect himself from more lies and abuse. That has been taken from him, and not only that but given to Hogan, who gave it to the one guy that Foley never wanted to work for ever again; Eric Bischoff. He can't stand Eric, and Eric thinks of him as nothing and should treat him as such.
All of this will mean that Foley and Jarrett would be true faces with totally different motivations, Eric Bischoff would be a true heel, and Hogan would be a guy who the fans wait for him to come to his senses and kick Eric to the curb. Instead, no one is truly likable, and weirdly enough Jarrett is the closest thing to likable in this.
