Man, for years I've thought it was "butt," which is gross and misogynist but almost witty in a way.
I discovered early Seger through Masterofsparks, and it's pretty great. And since I've started listening to EFD's show, I feel better about his early-80s stuff like "Turn The Page" (along with late-70s/early-80s AOR in general -- whatever you would call those Power Pop/Prog/Queen-influenced bands that were all over the radio when I was in junior high -- Red Ryder, J. Geils Band, Jefferson Starship, Golden Earring, Styx, etc).