Why's it called a TIE fighter?

Star wars fans will definately know what the acronym for the empire's
iconic 'cannon fodder' ships is; i mean, even the sound is unique!

It does look like two pieces for cardboard stuck to an egg, that much i'll
admit. Apparently the empire's engineers ain't paid much. :p

But see the following Family Guy clip for what TIE can mean. ;)

http://www.youtube.com/watch?v=EH5oRJKTWuc