From MSNBC: "Former Merrill Lynch Chief Executive John Thain said Monday he plans to reimburse Bank of America for a $1.2 million renovation of his office a year ago, calling the cost “a mistake in light of the world we live in today.”
I agree with Mr. Thain that our world has changed a lot. A year ago is was a great idea to spend $1.2M on office renovations. Only today, in light of the recession and the deterioration of ones firm does it seem like a bad idea. At least he didn't try to spin it like he was trying to bolster the economy with spending!
Monday, January 26, 2009
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