What's the 'Score' With CEO's Bill?

Savvis Communications, a publicly held telecom firm based in St. Louis, recently placed its CEO, Robert McCormick, on an unpaid leave of absence and announced that its audit committee had begun a full investigation into matters related to a lawsuit filed by American Express in New York State Supreme Court. At issue? McCormick is accused of failing to pay American Express $241,000 in credit-card debt that he allegedly racked up in October 2003.

Were the charges related to travel expenses? A holiday shopping spree, perhaps? No. The overinflated tab in question came from a popular "gentleman's club" in New York City called Scores. According to court documents, McCormick, 40, and three guests allegedly ran up the enormous tab in one night at the strip club. Documents reveal, however, that McCormick only paid Scores for roughly $20,000 worth of "goods and services." He claims the rest of the charges are fraudulent.

Savvis Communications has responded by tapping president and COO Jack Finlayson as acting chief executive, and has hired a law firm as an independent counsel to assist with the investigation.

Now, we here at VARBusiness have seen our share of wild parties in the IT industry over the years, especially during the heyday of Comdex in Las Vegas. But $241,000 in one night seems a bit excessive for just four people, even if we're talking about The Rolling Stones.

Either someone mistakenly put an extra zero on the bill or that was one truly memorable celebration.