What does one do when his boss is a weenie?

I have a boss that is incompetent with his new position. I have spoken with my territory Manager about him once already about his yelling at other staff. All the staff in the office are uneasy around him causing them to make stupid mistakes. At Christmas time he gave me and the other t. manager 15 beer, half of a 30 pack that was brought in from a customer for an employee that works in the office. The customer that brought in the beer bought it for an employee that had found the customers cell phone, phoned the customer and returned it to him. This customer has brought in a 30 pack of beer twice, neither time has it been given to the employee. I don't know what to do. Should I bring this to the territory manager again, or just leave it? I have lost all respect for my boss and find it difficult to work for some one like this.