YGTBSM

Today’s YGTBSM (You’ve got to be shitting me) moment comes courtesy of Savvis CEO Robert McCormick as reported by Business 2.0 magazine.

In October Mr. McCormick was sued by American Express for get this, $241,000 in charges he racked up on a visit to the NYC strip club Scores. Holy crap, that’s got to be like 10,000 lap dances.

Savvis places McCormick on unpaid leave after he admits to the visit but claims to have only dropped $20K. Well sure, 20K I can understand…

He later resigns and receives $600,000 in severance but forfeits $3 million in preferred stock.

Incredible

Why is it that “Senior Management” always has some sort of out??
Is this taught in B schools everywhere??
This really pisses me off.

USA Today featured an article last week about Enron employees who lost everything. Men and women approaching retirement who now have to start all over.

If the shoe were on my foot it would be difficult for me not to seek some sort of retribution…

One word for your retirement portfolio, diversification.

And don’t believe any of the shit coming out CEO McFuckstick’s mouth.