scha·den·freu·de [shahd-n-froi-duh] – noun: satisfaction or pleasure felt at someone else's misfortune. [Origin: 1890–95; < G, equiv. to Schaden harm + Freude joy] Dictionary.com Unabridged (v 1.1) :
n. Pleasure derived from the misfortunes of others."malicious joy in the misfortunes of others," 1922, from Ger., lit. "damage-joy," from schaden "damage, harm, injury" (see scathe) + freude, from O.H.G. frewida "joy," from fro "happy," lit. "hopping for joy," from P.Gmc. *frawa- (see frolic).