John Thain, the former CEO of Merrill Lynch, has been taking a lot of heat for redesigning his office. It’s not that he was spending his own money; that would be okay. He was spending the company’s money to the tune of $1.22 million dollars while the company was firing workers, bleeding money, and preparing to be sold to Bank of America. He says he’ll pay back the company for it, though he only added that clause after getting his hand slapped in public. Of course, the awesome and talented Miss Cellania points out that he could have spent a lot more money.
I can understanding wanting to have a nice office. I mean, you are the CEO and all, and there is some expectation that you look the part of a rich fat cat. People trust rich fat cats with money. That’s the difference between a well-run Ponzi scheme and a rediculous 419 scheme. In some ways, being the front for one of these companies is a bit like being a con artist. Look the part, act the part, and no one will know your company is going under.
Still, just reading about that kind of makes you sick, doesn’t it? He spent more on a rug than the average person would make in two years. I’m sure the rug really tied the room together, but come on dude.
Tags: merrill lynch, bank of america, miss cellania, john thain, [tags]merrill lynch, bank of america, miss cellania, john thain, $1.22 million dollar office furniture, expensive office furniture[/tags]
