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cougarblue
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If I were in your shoes, I'd be concerned as well. But like others have said, there really isn't much you can do about it other than choosing different set of recs for your next apps.... Good luck
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This is always a very difficult part of the application process for anyone who comes outside of the traditional MBA feeder tracks. If you truly are a top performer at work and they want you to stay, it is in their best interests to do something like you mentioned (sabotage your recs and woo you with money). All you can really do is hope that the people you work with are gentlemen who are looking out for your long-term future. If you dwell on it much further than that, you will go insane.

I am a skeptical person by nature, and this part of the process has caused a significant amount of stress for me because it is the only part of the process that I have absolutely no control over. Eventually, you just have to realize that and let it go.
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4th your CEO doesnt think you will actually go to school given the current economic situation..
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Go face the CEO and ask directly if he felt that he was able to write you a good recommendation based on your track record. Watch his reaction carefully and try to figure out if he is lying to you.


Yep, it's a non-conservative approach, but it might give you some relief.
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Interesting takes from you all, thanks. I have to say that we have a very good relationship and I've never seen him do or say anything that would suggest any ethical lapses. I don't think I will try to ask him about it (especially if he is going to try and throw $$$ at me to stay), or at least not yet.
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I'm thinking the "he's not going back to school" comment was for the MD's benefit, not yours.

However, what if he did write you a crappy review? What can you do about it?

RF
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Nothing you can do about Rd 1 apps. The bottom line is it's a crappy situation and I really feel for you. As far as Rd 2, I would start thinking of alternatives, to be on the safe side. I'm not saying don't use the same person, but you really need to have a brutally open conversation. You'll be able to tell if he will step up to the plate for you in Rd2 or if you still feel uncomfortable - at which point you'll need a replacement.
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I think it's a definite possibility that the statement was used for conversational leverage between the CEO and the MD.

If you believe that the CEO has your best interest in mind, I would say that sabotage is the most unlikely scenario you listed. Let's face it. If he sabotaged you, the last thing he would logically do is tell someone about it. Gossip travels.

I'm sure it will all work out for you :)
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You are about to be promoted to MD and you think the CEO is intentionally stabbing you in the back too?

I'd say you are paranoid, yes.

People who stab others in the back, don't usually do it by also saying "here's a bigger paycheck, and more responsibility and lots of other good important stuff!"
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It would seem strange to be if I were an Adcom if I read a negative LoR (hypothetically, not saying it happened) from someone's supervisor and then found out the individual in question was just promoted by that supervisor to work directly under them.

If people say this happens as frequently as 10%, wouldn't Adcoms be aware of this possibility?
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Thanks guys--I'm feeling a little better about this, now that several of you believe it much more likely it was just a conversation piece rather than his true motive. But sometimes you never know about people despite their front. And I was more worried especially in light of the other things that the MD said transpired.

rhyme and kiddero: the situation is obviously more complicated, but it's not like I'm getting "promoted" in the traditional sense (titles are meaningless at a three person shop) except for more compensation and responsibility, although I was already contributing fairly heavily. Also, since apps are already in, AdComs won't necessarily know about this likely change since it's in the future. But your points are well taken.
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So this is what I think happened: It is possible she thought you wanted to do something part time or a weekend course (of course that is lame because you must have told her when you explained your candidacy)

however, you cant do anything now.. so Don't count your chickens just yet!!