Remember that Temasek Holdings acquired a stake in Merril Lynch? The same Merril Lynch that merged with Bank of America and causing lots of trouble to America's biggest bank. You know what Merril Lynch do with the money?This guy, John 'Super' Thain, is was the CEO of Merril Lynch when our Singapore money was poured into his firm. He has now quit his new job with BOA. The main reason was that he gave out an earlier-than-usual bonus to his Merril cronies employees just three days before the merger took place. Wonderful. His last great heroic act as CEO. This is despite the losses made by Merril Lynch and BOA that caused BOA to ask the government for help.
So what happened to the money our government gave Merril Lynch? To renovate John Thain's office first of all. Nothing beats having a great office to give good 1st time impressions to all visitors. Look at what he spent on his office.
He spent $800,000 to hire famed celebrity designer Michael Smith, who is currently redesigning the White House for the Obama family for just $100,000.
- $87,000 for an area rug in Thain's conference room
- $44,000 for another area rug
- $25,000 for a "mahogany pedestal table"
- $68,000 for a "19th Century Credenza"
- $15,000 for a sofa
- $28,000 for four pairs of curtains
- $87,000 for a pair of guest chairs
- $18,000 for a "George IV Desk"
- $2,700 for six wall sconces
- $37,000 for six chairs in his private dining room
- $5,000 for a mirror in his private dining room
- $13,000 for a chandelier in the private dining room
- $11,000 for fabric for a "Roman Shade"
- $16,000 for a "custom coffee table"
- $35,000 for a "commode on legs" aka toilet?
- $24,000 for "Regency Chairs"
- $5,000 for 40 yards of fabric for wall panels
- $1,400 for a parchment waste can aka dustbin?
I guessed Temasek Holdings was 'wowed' by his office when they decide to feed him money for bonuses. Make that a BIG WOW
This is a commode? Good to eat as you shit, I suppose.
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