CEO of Sallie Mae: "Let's get the f--- out of here"

Higher Ed is all abuzz after yesterday's conference call from SLM Corp., known as "Sallie Mae" and one of the leading student lending companies, dropped an F-bomb.

Context for public company neophytes: CEOs have conference calls from time to time and share their views on the outlook of the company with analysts (those people who suggest to the investment community whether or not companies are good stock picks).

SLM CEO Albert Lord was having a rough week: his company was going to go private and then the private equity people backed out and then his stock began a free-fall and then...

Well the conference call started spinning out of control. One analyst asked an agitated Lord for an answer and he responded by suggesting the analyst call "Steve." Which didn't work for the analyst, who said, in response, "You're the CEO."

Then the Operator gave instructions to those listening in, then Mr. Lord fired his parting shot, speaking with Steve and everyone else listening in:


"How good is this? Steve, let’s go. There’s no -- no questions. Let’s get the f--- out of here."

OOPS.

Lessons?

- All microphones are live microphones
- If you don't like the terms offered by the lender, or the financial aid office, you can just "get the (deleted) out of here."
- Of course, you may not like what happens after that.