Smeg

Derivitive in most instances from the word Smegma (See: Knob Cheese), with four meanings: 1) Spoken in the show Red Dwarf (may have been used earlier than this.) and adopted into every-day culture; Similar meaning to damn or fuck. 2) Presumably an abbreviation of Smegma again; Referring to something digusting. Often an -unidentified- disgusting substance. 3)An insult. Smegma isn't the most complementary thing to call someone, so we can assume it comes from this word. 4) A company that makes various kitchen appliances such as cookers or fridges, which serve about as much purpose as the Smegma the word tend to derive from.