Merrill Lynch CEOJohn Thainspent $ 1.22 million in fellowship dollars to redecorate his office in former 2008 . TheDaily Beasthas a leaning of all the items on which he expend all that money . in brief after , it became clean even outside the company that Merrill Lynch was headed for fiscal disaster . The company was taken over by Bank of America , who announced that Thain resigned his attitude last Thursday . But was $ 1.22 million really that extravagant ? Hecouldhave spentmuchmore on function furniture .
Table
Thain spent $ 16,000 for a customs coffee mesa and and another $ 25,000 for a mahogany base table . simple chicken provender , of class , since the most expensive table ever sold was theTufft pier board , which sell for $ 4.6 million in 1990 . It may have been a crotchet , since Christie ’s expected it to betray for $ 3 million less . you’re able to get a reproductive memory of this board for a mere$3,595.00(free shipping ! ) , which does n’t descend close to what Thain spent forhistables .
Sofa
The cost of Thain ’s fresh couch was only $ 15,000 . He could have spent more , but he might have had to give comfort . Thisstainless sword sofadesigned by Ron Arad was expected to bring $ 300,000 at auction . The net sale price was$206,500 . The matchingchairwent for $ 68,500 .
Desk
Another token on the inclination was $ 18,000 for a George IV desk . I founda pictureof a George IV reddish brown desk , but no toll bond ( if you have to require , you ca n’t afford it ) . $ 18,000 may be a fair terms , but who knows ? It does n’t seem like anything special -in fact , it attend alotlike my information processing system desk , which I snagged from a relative ’s entrepot shed . For $ 18,000 , Thainshouldhave had a custom - builtLego desk . Or he could ’ve pass $ 200,000 on aPower Deskfrom Parnian Furniture . These are handwriting - built over five months to demand size and shape specifications for each customer .
Chandelier
Thain spent $ 13,000 for a pendant for his private dining room . Although the question of how one gets a private dining elbow room include with an office burns within me , this is not a lot to pay for a expert chandelier . This onewent for $ 450,000 . On eBay . In 2006 . It contains Au , crystal , and deep red , but the price was really justified by the storey lamp and sconces that came with the mickle .
Rugs
Thain spend a total of $ 131,000 for country rugs . That sounds like a lot of money , but it does n’t hold a candle to the 5’x7’Persian silk rugthat was betray at vendue last year for $ 4,450,500 . That ’s over $ 700 per straight inch ! You ’d expect to pay a wad for a hand - woven silk rug estimated to be 400 - 500 years old , particularly one from the estate of Doris Duke , but that ’s a mickle of lolly to pass over your feet on !
Fabric for a Roman Shade
Another item on Thain ’s leaning of expenditures was $ 11,000 for fabric for a Roman Shade . I was n’t sure what a Roman Shade is , so I looked uppicturesand instruction for making one . You would have to smile thinking of the CEO of Merrill Lynch realise his own shades usingWikiHow . The direction say you only involve enough textile to cover the windowpane , doubled if you use the same fabric for the lining . What would that be , three or four yards , max ? What kind of textile could mayhap cost that much ? The Belgian textile company Scabal was already known for their top-notch - expensive Vicugna vicugna fleece they callSummit , which costs £1500 per meter , which is about $ 3,000 a meter , or more or less less for a K . This past year they outdid themselves by introducingGold Treasure , a Merino woollen cloth with realgold threadwoven in , at £4,000 per meter , which is very expensive in American dollars per thou . The normal use for this fabric is to make human beings ’s suits . And not very many of them .
Wall Sconces
Thain paid $ 2,700 for six wall sconce . That ’s $ 450 each , although some of that would have been sale revenue enhancement . He could have expend a small more and boughtLeaf Silhouette Wall Sconcesby Fluorescent Hubbardton Forge for$488.70each , which is mark down from $ 678.75 each . Bargain !
Mirror
OK , $ 5,000 for a mirror ? For a mere grand more , Thain could ’ve buy aMcLeod Mirrorpowered by a Mac Mini and a webcam . This mirror takes your image and procedure into artistic production .
Chair
Of of course , you must have lots of chair for the kinsfolk who will be impress by your newly redecorate office . Six dining elbow room chairs be $ 37,000 , and two more chairs ran an extra $ 87,000 . I can sympathise how it would be more than usual to buy dining elbow room chairs without the table -a storehouse normally does n’t want to split up a set . Chairs are more expensive in the United Arab Emirates . This agency chairwas contrive by Hadi Teherani and sport gold plating . It ’s yours for €50,000 or $ 65,500 . Perfect for supporting your tush while you count the money , whether it ’s from oil color fountainhead or investors .
preferably or later , we will see pictures of the CEO ’s office at Merrill Lynch and decide if he spend the company ’s money wisely . Or you’re able to read between the billet .
