piggles
mc
amr090
jeez, they rejected a dude with a 770!?! wow.
Sometimes I almost think schools in the range of McCombs love to be able to reject people with high GMAT's, just so they can say they did.
Probably a stretch, but my mind wanders as I wait....

I think people with excellent numbers sometimes need to make a really strong case why they want to attend certain schools (fit)--especially those that aren't as highly ranked. Yield is an important number for demonstrating desirability to prospective students. Schools don't want to lower their yield by admitting students they aren't reasonably confident will attend. That's my thought. Either way, I'm sorry to hear it.
It seems to me that if it were really just yield protection, they would have waitlisted rather than reject outright. That way it leaves the door open to someone they think they really want but probably doesn't want them but doesn't hurt their bottom line.
My guess, though, is that with students who on paper are such strong applicants they to some degree think of it as either up-or-out. In other words, they know to get someone of that caliber, they need to offer a lot of aid. For some of those folks, they'll offer it. For others who they don't feel are a real fit, they won't. But that's just a harebrained theory.
Sometimes the process just gives weird results.