$87,000 for an area rug?
Would you spend $87,000 on an area rug? Absolutely, if you are John Thain, the former CEO of Merrill Lynch.
Thain refurbished his office at Merrill to tune of $1.22 million in company money, according to a Daily Beast/CNBC report.
Pictures of the rug are as yet unavailable, but in the words of the Big Lebowski, we bet it really tied the room together.
It was a rough day for Thain. Hours after the rug story came out, he was ousted from Bank of America, just three weeks after the Merrill merger closed.
Other extravagant purchases reportedly included:
- A “mahogany pedestal table” ($25,000)
- A “19th Century Credenza” ($68,000)
- A “George IV Desk” ($18,000)
- A chandelier in the private dining room ($13,000)
- A “parchment waste can” ($1,400)