The title of this post is the title of an interesting story I read at Kuro5hin. I quote from the introduction to this article: "This is a first-person account of how IBM was able to con my execs out of millions of dollars. Gullible management tries to swim with the shark and gets chewed to pieces. Witness the exec-level FUD sales techniques and the $325/hr subcontractor labor bait and switch."
Read the full story, and some interesting comments on it, here: http://www.kuro5hin.org/story/2005/9/27/95759/4240
One of the most read-worthy comments comes from a certain Leonard Lee, a Senior Consultant with IBM. He was on the project described in the article. Make sure you read his point of view as well. Another one comes from a Kuro5shin user "LeglessMarine". He speaks of a similar experience.