I am questioning a phrase rather than an individual word, which may not be appropriate for the board. At any rate I would appreciate confirmation of my understanding of this phrase, which has been used of late by some boneheads to mean "turn tail and run."

My understanding is that it refers to a nautical manoeuvre, where a ship's captain decides that his original plan to anchor and outwait a storm was a bad idea. The wind is blowing hard, the anchor line is stretched so taut that the anchor cannot be hoisted, so the captain orders the first mate to "cut and run" (cut the anchor line and escape peril by running before the wind). Cutting and running is a time-honored, standard, by the book, sensible manoeuvre with no shame attached--at least that is my understanding.

Has any of you heard a different etymology? Thanks. aliasjb@gmail.com