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Definitions by bungalow bill

cashing in your chips 

to withdraw from any enterprise or venture that appears to be on a downturn, while you yourself still can keep any personal gains.
-from the poker (or similiar betting game involving playing cards) term, where one takes their remaining chips, representing the amount of money they have left, and trades them in for their value in cash.
"at the rate your shares in the company are going, as your financial advisor, I would seriously suggest you consider cashing in your chips. Sell them off while they are still worth something!"

cutting your losses 

to extricate yourself from an impossible situation, where there is very little or no hope for improvement.

similiar to cashing in your chips, however, when one cuts their losses, it usually means that they are walking away with nothing to show for their efforts, and are getting out before they have to endure even more loss.
cutting your losses:

The U.S. Government eventually decided to cut its losses with regard to the Vietnam War, and by the early 1970s withdrew all of its military forces from Southeast Asia.

foot in the door 

being in a situation of having a promising, though not as-of-yet confirmed, opportunity
(used mostly with reference to a job or related well-paid position in a company)
"you should drop your resume off to the dept. head, least that way you could still get your foot in the door for the next time they look for someone."
foot in the door by bungalow bill September 4, 2005

back seat 

to "take a back seat" is to assume a non-participatory role on an issue or situation.
"I'm sick of taking a back seat about things that go on around here. I'm gonna say a few things at tomorrow's meeting!"
back seat by Bungalow Bill August 25, 2005

work appropriate 

Multimedia content that is suitable for a workplace environment.
Caution. This Paris Hilton honeymoon video may not be work appropriate for all audiences.

keep on trucking 

general phrase of encouragement meaning to stay focused on a particular job or in general.
"you're doing a great job,keep on trucking."

the "where are they now?" file

said of anyone who was once famous but has since become back issue (faded into obscurity or an unknown status).
Poison, Elizabeth Berkley, and Spuds Mackenzie are just a few examples of members currently in the "where are they now?" file.