I agree with Bork.
It's time to drop it down to one major world title. In order for the two world titles to be as prestigious as they need to be, you would have to maintain an absolute brand split (including separate PPV's...even Mania, Rumble, Summerslam, and Survivor Series). The initial plan was for this to happen, for the two shows to be run completely separate with the odd "invasion" angle occurring every now and again. When WWE bought WCW, WWE had plans to maintain Starrcade, Great American Bash, etc., as separate WCW PPV's. WCW would have been a completely separate entity under the banner of WWE, but Vince became convinced that WCW couldn't function without Stone Cold, Kurt Angle, The Rock, etc. (and he might have been right, considering none of the WCW truly top names came with the purchase of the company, as their contracts were with Turner directly, not WCW, leaving a few of the rising names in WCW (Booker T chief among them) but leaving out names like Goldberg, Nash, Sting, Hogan, etc.). Then, WCW would have been run by Shane and Stephanie, with WWE continuing with the WWE and Intercontinental Championships (I think they still had the European title back then) and the WCW Championship, US Title, WCW TV Title, etc., being defended on WCW.
But that whole angle went tits-up. It's really too bad. I think it would have been a great one.
As for now, I think they should unify the WWE and WHC titles under the WWE Championship banner, consuming the World Heavyweight Championship history under that name. Have the IC title be an upper-mid card title and the US title be a strict mid-card title. The "divisions" would break down something like this:
WWE Title - Cena, Punk, Sheamus, ADR, Bryan, Orton
IC Title - Ziggler, Jericho, Rhodes, Miz, Mysterio, Santino, Christian
US Title - Ryback, Clay, Sandow, Cesaro, Ryder
In order for this to work, there would be some guys who were on the border going back-and-forth between WWE Title and IC Title "divisions" (Ziggler, Jericho, Punk, Bryan). There would also be some guys who would definitely be borderline between the US and IC Title "divisions". This idea would create a clear delineation between levels of talent and also give guys a place to prove themselves (particularly the IC Title scene) and also get the rub from more experienced guys without putting them in the main event scene.
Please note that the guys I list are really for comparison purposes and as of 20 August 2012. It's not necessarily where I think they should be based on talent. It's more where I see their characters as being as of that date.
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