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(verb) To destroy one's reputation and / or business by making a racist remark in public. From "Papa" John Schnatter, founder and chairman of Papa John's Pizza, who was forced to step down from his own company after using the N-word on a conference call.
"The CEO of Megacorp really schnatt the bed when he compared Mexicans to seagulls."

"Supercorp's stock tanked on the exchanges today after the company's CFO schnatt himself on a conference call with investors."
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