Jobs on Vacation While Engineers Working Overnight?

Bloomberg is reporting that Jobs’ statement yesterday that he and his team are “working our butts off” means “cots in the engineering department and cars in the parking lot at all hours of the night.”

Yikes.

More yikes? Jobs was on vacation this week prior to Friday’s event. Here’s Jobs in the Q&A session after his presentation:

I’m doing fine, I was doing better earlier in the week when I was on vacation in Hawaii.

The perks of being CEO, I suppose.