At $50 A Pop, That's 48,000 Lap Dances He Can No Longer Afford.

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This year's edition of Business 2.0: 2005's 101 Dumbest Moments in Business features an update to a previous post:

In October, American Express sues Savvis CEO Robert McCormick for $241,000 in charges he racked up on a visit to New York strip club Scores. Savvis places McCormick on unpaid leave after he admits to the visit but claims that he charged less than $20,000.

I knew all that (plus some details not mentioned in the Business 2.0 blurb), but this is new:

He later resigns, accepting more than $600,000 in severance but forfeiting almost $3 million in preferred stock.
This makes his opportunity cost $2.4 million, almost ten times the amount of the Scores tab! And that doesn't even count the ass-reaming he's going to get from his wife's (presumed) divorce lawyer.

The whole list is definitely worth a read.


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This page contains a single entry by Chris published on January 26, 2006 12:31 PM.

Next Stop: 7-11 For Pork Rinds And A Case Of Busch Light was the previous entry in this blog.

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