Fraternization ♥

I was talking to a co-worker of mine today, and we got on the subject of relationships/friendships with one's supervisor/manager/employer. We have one manager who is thee sweetest thing ever! I always joke that she's the ivory to my ebony, because we're just always on the same wavelength. If a person walks into our store and I have something that I want to (but can't) say about them, I'll look at her (my manager) and she'll know what I'm thinking...because she was thinking it too lol. It's like we share a brain or somethin'! Anyways, our other manager is kinda cool, and she's funny (sometimes) but not as personable as manager #1...at least in the mind of my fellow employees. In fact, I'd go so far as to say that some of the employees are kinda afraid of her. Why? IDK. She's got some bully-ish tendencies, but so do I so I can handle it. Either way, both managers know how to keep the line solidly drawn between business and friendships, but do you think it's a good idea to befriend a person who's higher on the business totem pole than you? Or lower? As an employee, what if one day you screw up and wind up with your job on the line? As an employer, what if you end up having to fire someone you've become friends with? It's kind of like when you're close friends with someone and don't want to enter a romantic relationship with them...it's tempting, but weighing out the pros and cons is definitely a must. There are some people who would make lovely friends, but I personally keep all these "friendships" at arm's length. 
x0x0♥