Sorry Joe, but you are wrong on this.
If you search the H1b database at
http://zazona.com/LCA-Data/ you can find dozens of people with titles such as CEO, VP, various director and manager roles listed on approved H1B LCA's. I've listed some below in the last couple of years and I didn't even get to the letter 'B' as there are hundreds and hundreds of them.
(Please ignore the rest of the content on Zazona.com)
I don't need to name any more, but I know from personal experience of at least half a dozen startups during the boom that had H1 executives in various positions.
Many of the well known Indian entrepeneurs came out here on H1's and made their way up to executive positions before they got green cards.
DIRECTOR OF US OPERATIONS -H-1B- ACCELERATED ENCRYPTION PROCES
CEO -H-1B- 365 MEDIA
VP OF INFORMATION TECHNOLOGY -H-1B- ADCORE STRATEGY USA
MARKETING MANAGER -H-1B- MEDIA JAPAN
MANAGER -H-1B- 12 TECHNOLOGIES INC
VICE PRESIDENT CUSTOMER CARE -H-1B- 1CG TELECOM GROUP INC
BUSINESS MANAGER -H-1B- ABLE DIVERSIFIED, INC
DIRECTOR -H-1B- ABN AMRO INCORPORATED
MANAGING DIRECTOR -H-1B- ABN AMRO INCORPORATED
HRD/MANAGEMENT CONSULTANT -H-1B- ACHALA CREATIVE SOLUTIONS
OFFICE MANAGER -H-1B- ADVANCEDINCOMETAXINC
MANAGEMENT ASSOCIATE -H-1B- AETNA INTERNATIONAL INC
PRESIDENT -H-1B- AGRESSO NE CORPORATION