Acronym. 'Yet another meeting'. A YAM is a pointless meeting organised by an over-zealous manager who feels that a) having a meeting is a form of work and b) he is not doing his job if he isn't talking to his staff CONSTANTLY and stopping them doing something useful.
'Can't talk now, I've got to go into a YAM. Again.'
by The Moai April 14, 2005