If Undertaker, then why not Shawn?

Shawn doesn't want and hasn't had another reign for two reasons :

- He doesn't need it to get over with the fans

- He recognizes that he is not the face of the company, and doesn't want the championship.

Shawn realizes that his place in the company now is to help get over the younger talent. Giving him a title reign would not be well suited for him at this stage in his career. Sure everyone would like to see it happen but it won't.

Shawn is not the most over guy on Raw so he doesn't need to be in the title picture or in possession of the championship. Undertaker is champion because he is the most over face on Smackdown and is just about the only top tier face on that brand at the moment.
 
I think if Shawn wanted a title he could be given one, but from what I've heard he's told McMahon he doesn't want to work the champions schedule. While you make a good point about The Undertaker, I think the difference is their personal preferences. Shawn is completely fine not being the face of the company (Unless this changes at Survivor Series), whereas Undertaker is still enjoying being a main face whilst champion. Now, I'm with a lot of you in saying Shawn having one last run would make me really happy, I love seeing him with the belt around him, and I'll be cheering for him in a few weeks time.
 
Shawn Michaels shouldn't be the champion for a number of reasons, most obviously because he was a shit champion during his prime which coincided with a boom period in wrestling. The fact he's now about 100 times worse than he was then should be as good a reason as any for him not to be the champion.

The real reason, as has been stated, is that he doesn't want to do a house show every day, which is what champions, and those in programmes with them, have to do. Shawn Michaels is quite clearly not interested in working a heavy schedule, as emphasised by the fact that he has wrestled somewhere in the vicinity of two singles matches since WrestleMania. Don't correct me on that, I don't care.
 
Looking at how championship feuds are going right now, I think Shawn's better off without a title. Without the title, it's much easier to make a feud become personal, or you know, make it deep. The whole leadup to Taker/HBK this past WM was pretty awesome, with the Kozlov and the Vickie Guerrero and the promos. I don't think any of this would've been possible if a title was involved.
 

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