I am not familiar enough with Papal jurisdictions to make en educated comment. It is my understanding that he is not "first among equals" when it comes to theological issues, as he can proclaim dogma without consulting the Synod (College of Cardinals).
It is also my understanding that every bishop has to be approved by him. Maybe someone more familiar with the Church can explain his prerogatives when it comes to firing clergy, especially bishops. They are all Apostolic brothers, after all and Peter did not lord over any of them.
However, those who oppose the Church openly can be cut off from communion with the rest of the Church. We have a similar case currently with the so-called Orthodox "Churches" of Maceodnia and Montenegro.
Petrosius, care to to comment on this?
Both of these positions are extreme. While the pope is more than just the first among equals, he is not a tyrant. His position is that of a final court of appeal, not a micromanager lording over those under him. The exercise of any papal jurisdiction is tempered by the concept of subsidiarity: the principle which states that matters ought to be handled by the smallest (or, the lowest) competent authority. Additionally, there is nothing in the writings of Benedict to suggest that he has retreated from papal claims of authority to embrace the Orthodox position of first among equals.
As to the question of the power of the pope to remove bishops, yes, he does have that authority. It is however very rare that it is exercised (in keeping with the above mentioned subsidiarity and also recognizing the gravity of removing a bishop from office). Nor is this authority of recent vintage; it was exercised in the ancient church. I will pass over the examples where the popes removed bishops in the West and just point out some examples where they exercised this authority over those of the East:
If these do not represent the exercise of universal jurisdiction over the undivided church, I do not know what would. More recently, Pope John Paul II removed Jacques Gaillot as Bishop of Évreux.