Can be used as a term to describe meetings that do not accomplish anything but wasting your valuable time. Usually meetings that consist of sales or production meetings, could also be board meetings. Being in meetings of this sort makes you want to beat the hell out of whoever is in charge of you. This type of meeting is usally accompanied by complete asshatery. And is a complete waste of time.
Hey man where are you going so late in the day. Oh you didn't hear...The higher ups are calling a late night hide the sausage meeting. Yeah I know those things suck. It's complete asshatery at its finest. Well let me go I have to go and play hide the sausage.