Do I have ANY recourse against the owner of the company for forcing me to give his grandson my job?

The grandson is 21 and has already been fired once by our production manager for attitude, tardiness and absenteeism,last August. The owner brought him back just a couple months ago, WITH a pay increase AND an additional week of paid vacation. I am now being forced to train him to do my job, that I have 20 + years experience in, so it can be handed to him on a silver platter. Since returning, he has still not worked a complete 40-hour work week and there are no repurcussions as he only has to answer to the owner/grandfather. So, now he is basically "untouchable" no matter how much his lack of work ethic disrupts daily operations. I have never been so insulted. WHAT, if anything, can I do?