Tuesday, January 27, 2009

$35,000 commode, $1,400 wastepaper basket, $50m plane

Ousted boss of Merill Lynch spent US$1.2 million redecorating his office. He supposedly spent $35 000 on his commode. According to the Independent, Thain said that expenses including $85,000 on a Persian rug and $1,400 on a wastepaper basket were "a mistake in light of the world we live in today". $1,400 basket to throw your rubbish in?!?! If I have a $1,400 wastepaper basket, I don't think I'll be throwing trash in it. I don't know what you think about this whole thing. I think it is pure madness! But I guess madness is the perogative of the rich. And oh, all right, before you start thinking of lynching this Lynch guy, he has agreed to reimburse the $1.2m spent.

Another bad decision or act of indiscrection or whatever you want to call it... The transgressor in this case is Citigroup. Yes, the people who got a $45 billion bailout from the US government is supposedly going through with plans to buy a $50 million jet that seats 12 people. Citigroup said that the order for the plane was placed 2 years ago and cancelling the order would cause the bank liable to pay a multi-million dollar fee. Citigroup's decision has definitely raised hackles. Do watch the video below.

Heh does the $1,400 wastepaper basket by the Lynch guy sound 'cheap' in comparison... Hmm... no... I still think it is absurd. The absurdities of the rich.

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