n. In the inimitable words of the originator, JimH: When you don't have enough brainpower to get a cup of coffee because you haven't had a cup of coffee.
anagramn. Once upon a time, on a field trip to a place called Dorholt Printing, AaronK rearranged the plastic letters in a greeting sign that read, Welcome LaserMaster. By the end of the tour, the sign had reverted to its original welcome.
n. The directory L:\LATEST\x\y, a destination for program and data files not guaranteed to function correctly, where x and y are defined by the release manager and may differ among components of the release. In contrast with Prerel, files in Latest do not participate in software releases and carry no guarantee of fitness (although from experience we know they almost always work the first time).
acronymn.Lowest Common Degenerate. A term used to indicate the most inexperienced, ill-informed, naive user on the face of the planet. Documentation is written for these people on special LM drool-proof paper.