This is something I have not (and sincerely doubt I ever will!) graduated in or wish to succeed in. To have experienced it for the first time in a major way, I must say it is quite shocking and I am repulsed towards the person who does it. My favourable opinions of this person has drastically dropped and I will never see this person the same again.
Sure, I have heard of it back in my old company but to have it applauded and evidenced in black and white is something else.
If this is the way to climb the corporate ladder, it sure is a sad way to go about it and I will only say the ladder will be a steep one for me. Then, so be it.
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