Dodging tough questions about the student loan company’s fiscal well-being and strategy in the midst of the credit crunch, not to mention his recent sale of 97% of his company stock, Sallie Mae’s CEO ended a conference call yesterday with investors by cursing, reports WSJ:
In an apparent reference to investors’ anger, he said: “I can assure you, you will be going through a metal detector.” He ended the conference call by saying “Let’s go. There’s no questions. Let’s get the [expletive] out of here.”
Sallie Mae spokesman Tom Joyce called the metal-detector remark “an attempt at humor” and the expletive “an unfortunate slip of the tongue.” Mr. Joyce said the call had been intended for Mr. Lord, in his new role, to give investors a “broad overview” of the company’s situation.
Afterwards, shares of Sallie Mae fell 21%.