Bye bye, Thain.
A few moments ago,Lewis (our hero) and 's former chief John Thain hashed things out in what was referred to as an "emergency meeting", trying to determine what exactly Thain's future will be at the new Bank of , or whatever the hell it's going to end up being called.
Looks like Thain's hitting the road, according to CNBC. Perhaps his lavish spending had something to do with it. Here's a list of a few of the renovations he did to his office when he came on board at Merrill:
Area Rug $87,784
Mahogany Pedestal Table $25,713
19th Century Credenza $68,179
Pendant Light Furniture $19,751
4 Pairs of Curtains $28,091
Pair of Guest Chairs $87,784
George IV Chair $18,468
6 Wall Sconces $2,741
Parchment Waste Can $1,405
Roman Shade Fabric $10,967
Roman Shades $7,315
Coffee Table $5,852
Commode on Legs $35,115
My, but we've come a long way from just a few months ago when the merger was first announced and Thain was hailed to become head honcho when Lewis retires. Everything was coming up roses back then, until Merrill dropped their $15.31 billion-loss bombshell forcingto beg the government for another handout to keep from going under. Now Thain has become more like Lewis' bastard stepchild than the prodigal son that he was hailed as in months past.
Who knows, maybe we'll be rubbing elbows with him in the unemployment line.