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John Thain and $131,000 of Magic Office Rugs

John Thain Magic Carpet for 87 Grand


Former chief executive of Merrill Lynch apparently quit after a posting of some $15.3 billion dollar loss in the 4th quarter. 

But is this all that's on his mind?  Some $131,000.00 was spend on "area rugs" alone of An estimated $1.2 Million* spent to refurbish his office... 

Accoring to the Daily Beast, recently reported purchases included other big ticket items such as "four pairs of curtains for $28,000, a pair of guest chairs for $87,000 and fabric for a 'Roman Shade' for $11,000."  All this, in addition to one $87,000 rug and a $44,000 rug which were purchased as well!

Pardon the semantics, but an area rug usually refers to a rug measuring 6'x9' or smaller.  We really hope these were some fantastic rugs for an average of $1,200 per square foot given 6'x9' measurements for each...

Take a look and see what a $80,000 - 90,000 carpet looks like.




See Most Expensive Persian Rugs and Oriental Carpets Prices of 2008


Thain Said to "Repay" for $1.2 Million "Renovations" and Magic Carpets







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