A Tale of Two Titties
p2p news / p2pnet: Savvis ceo Rob McCormick, 40, and three friends went to a New York nudie bar, ran up a bill worth close to a quarter of a million dollars and then charged it.
This was two years ago and, “Late last month, Savvis was sued by American Express, which alleged that Rob McCormick, chief executive, ran up $241,000 in charges at a Scores strip club in New York on an American Express corporate credit card and didn’t pay them,” says the St Louis Business Journal. “The company then placed McCormick on unpaid leave while it investigated the lawsuit.”
The Savvis board has now, “determined that it is in the best interest of the company to accept Mr McCormick’s resignation,” the BBC has Clyde Heintzelman, head of the company’s audit committee, saying.
This was, “no ordinary lover of the dance,” says Dana Blankenhorn on Corante. “McCormick transformed the company, taking it public in 2000, then buying Cable & Wireless’ U.S. assets in 2004 for a reported bargain basement $155 million. While Moore’s Law of Fiber was turning backbone provision into a killing field, in other words, McCormick was one of the killers.
“Savvis is now known as a data center company and the leader in what McCormick calls ‘utility computing’ – virtualizing services and breaking the link between the applications and the hardware they supposedly run on.”
But, “McCormick’s gone,” says Blankenhorn. “They’re raising a toast to his memory in San Antonio tonight.
“Hopefully for them it’s just cranberry juice.”
We weren’t able to find any mention of what his severance package was worth ; P
Also read:-
St Louis Business Journal – Savvis files motion to dismiss AmEx suit, November 16, 2005
BBC – US strip club inquiry boss quits, November 24, 2005
Corante – How A Titty Bar Visit Could Cost You Big Time, November 24, 2005
November 25th, 2005 at 7:55 pm
“We weren’t able to find any mention of what his severance package was worth”
I’m sure he got one.