Merrill’s John Thain regrets the $1.2 million he spent to redecorate his office, and now says that he should’ve bought Ikea “affordable solutions for better living” furniture.
“We decorated it in the style that Merrill Lynch offices were, which was very, very nice,” Thain said yesterday at a speech in Philadelphia. “That was a mistake, and I’m sorry that I did that. If I had that to do over again, I’d furnish it in Ikea.”
You’ll recall that Thain bought a $35,000 commode and a $25,000 antique mahogany pedestal table for the office, and although he said he paid the bank back, it’s clear that he was badly out of touch with reality when he decided to make these purchases. What was wrong with Stan O’Neal’s stuff anyway?
Quickly scanning Ikea’s Web site, shows that you can get a $99 Engan commode and a Liatorp pedestal table for $249.(Be creative! The mere names can make up for the glam.)