In a stunning display of miscalculation and all things feminine, Yahoo’s latest embarrassment is “striping” the company of credibility.

Yahoo has really struggled over the past two years, with falling profits and a revolving door of Ex-Yahoo executives. However, I don’t think anyone expected Yahoo’s latest debacle would take place at a corporate event. After Yahoo hosted an event for engineers and developers called Open Hack Day in Taiwan last weekend, a number of photos from the event managed to find their way onto the internet causing uproar.

Yahoo hired scantily clad young women to liven up the event, and give lap dances to event guests. Yahoo described this event as a “brainstorming” session, and opportunity to learn about programming and technologies. But when video and pictures from the event found their way onto the internet, it became clear that hiring the ‘Hack Girls’ was a misguided decision on the part of Yahoo.

What makes Yahoo’s misguided decision so interesting is that it involved lap dances at a corporate sponsored event, attended by Yahoo corporate executives, two years in a row. The details of this event have lead many to believe that the top execs at Yahoo was fully aware of the ‘Hack Girls’ and turned a blind eye, until the bad press started.

Here is the apology posted on the Yahoo Development Network blog by Chris Yeh, entitled “Sorry.”