Savvis Sends Off Lap Dunce

Author:
Publish date:

Ex-Savvis CEO Rob McCormick--he of the $241K Scores tab--isn't walking away with the boatloads of cash you'd expect, given the market disgraced-executive compensation levels these days, says Footnoted.org. From the addendum to the 10K:

McCormick agrees that he will fully indemnify SAVVIS from any liability incurred by SAVVIS arising from or in connection with the disputed American Express charges incurred in October 2003, including, but not limited to, liability in connection with the lawsuits filed against SAVVIS by American Express and by 333 East 60th Street, Inc. d/b/a Scores Showroom and NYC Banquet and Catering Services.

On the upside, McCormick gets extra points for getting Scores into an SEC filing.
Clueless Man in Topless Bar [MSNBC]

Related

Write-Offs: 5.19.15

Icahn scores $3.4 billion on Apple; NFL player's wife files suit against boss who asked her how many cheerleaders her husband banged, among other things; 6 charged with economic spying; "Korean teacher ate hamster to show 'how dear life is'"; and more.

Write-Offs: 8.17.15

Biotech company vs its founder; Petco IPO; CFO pay; Citi probe; "Pissed-Off Man Dumps Urine On Teen's Head, Police Say"; and more.