Swearing (within reason) is commonplace enough within my company that we get email notices to "watch the f-bombs" when clients are going to be coming in. However, in a managerial situation, I don't really find it appropriate. It's an out or an escape that prevents people from saying what they really need to say. About the only time the word sh*tty is used between me and upper management is to complain about properties that have lots of problems with them - using it to describe a client, a contact, a report, a situation at work = not appropriate.

However, my (female) manager (that I don't consider a friend) once elected me president of the (non-existent) big *ss little t*tties committee when I stopped by her office to chat about a project. I had no idea how to react, but I haven't respected her since.