Thain fired! GREED: Layoffs off while he spent $1.2M on Power Office & asked $10M bonus!

January 22, 2009 John Thain, the former Merrill Lynch & Co. chief executive officer ousted today, spent $1.2 million redecorating his downtown Manhattan office last year as the company was firing employees, a person familiar with the project said. Thain hired Los Angeles-based decorator Michael Smith, chosen by President Barack Obama and his wife Michelle to redecorate the White House, CNBC reported today. Thain paid Smith $837,000 and his purchases included $87,000 for area rugs, $25,000 for a pedestal table and $68,000 for a 19th century credenza, CNBC said.

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YouTube | January 22, 2009

Tags:. .redecorating. .redecorate. .pedestal. .company. .reported