Legal Question in Business Law in Washington

General Manager ruining company

I have worked for the same company for more than 10 years. About 2 years ago our old General Manager was replaced. Over time, the new GM has managed to alienate the majority of the company (about 100 employees). To make matters worse, he developed a relationship with and later married an aggressive sales person, who now delivers more sales revenue than any other single rep. Drunk with power, the two roll in perks and rule the company as if it were their own kingdom. We are all employees of a larger corp. Recently, it has become clear that their attitudes have started to drive away clients. It is possible they are actively engineering it's downfall to pave the way for their own future enterprise. Although, this is not obvious to the parent corp, who couldn't care less, as we have always shown solid profits. A group of us would like to start a competing company. But we all have non-compete agreements on file. They were signed about 5 years ago, prior to the present soap-opera. The company was also sold to a private investment firm. Is this a doomed venture? Are there other legal remedies regarding our GM and his conflicts of interest?

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