Regarding the $35,000 “commode on legs” ex-Merrill-Lynch CEO John Thain bought for his office, commenter VikramJaffe informs me that it is not as I theorized, a claw-footed toilet, but rather a chest of drawers on legs introduced by the French in the early 18th century. Too bad no one informed me of the distinction before I took a crap in it.
Merrill Lynch CEO John Thain spent over $1.22 million to renovate his office in early 2008, just as his firm was getting ready to slash thousands of jobs, cut back on spending and dump businesses. Here’s this douchebag’s big-ticket tally of personal aggrandizement in the midst of financial crisis:
A very nice anonymous reader just sent us contact info for Michael Duke, the new CEO of Walmart (as of February 1st, 2009). Please use it wisely.
The New York Times has an article discussing Congressional proposals to limit executive pay. Although the financial industry may deserve a pay cap, the author argues, other industries would be harmed by a cap.
Readdress your gripes! Walmart will have a new CEO, Mike Duke, starting Feb. 1. [CNNMoney]
Let’s say you run a toy company. Your retarding poison toys earn you a well-deserved public flogging, which you escape by scapegoating Chinese workers. The media doesn’t realize, until it’s too late, that the real culprits are the dangerous domestic designers you employ. Sales inch up marginally. Do you deserve $12.2 million, a 68% raise? Mattel’s Board of Directors thinks so!
Pass the hat around, Comcast CEO Brian Roberts is only going to make $20.8 million this year. [Philadelphia Inquirer]
The author of the BuisnessWeek article “Sprint’s Wake-Up Call”, Spencer Ante, has posted his entire interview with Sprint’s new CEO, Dan “At Least I’m Not Gary Forsee” Hesse.
“I feel we are well positioned for an economic downturn,” Scott said. “Our low prices and low-cost business model should give us an advantage over other retailers if things get more difficult for consumers.”
Bad at your job? So was Aylwin B. Lewis, president and chief executive of Sears Holdings Corp..
The fact that Eddie Lampert isn’t even a CEO didn’t stop Herb Greenberg at Marketwatch from slapping the coveted “Worst CEO of the Year” award on him. Eddie beat out such unemployed luminaries as Chuck “Whoops” Prince, formerly of Citigroup, and Ed “I Hate My Customers” Zander, formerly of Motorola.
Fortune magazine has an Q&A with CEO Brian “Bad Install” Roberts in which he expresses his hope that Comcast’s reputation for horrific customer service isn’t “universal”:
Merril Lynch CEO resigns, interim nonexecutive chairman chosen. Sub-prime meltdown spares none. [NYT]
Rumors are flying that Stanley O’Neal is being forced to step down after a disastrous third quarter— making him the most prominent casualty of the subprime meltdown.
Delta’s CEO Richard “Anybody Wanna Buy An Airline?” Anderson, formerly the CEO of Northwest, has finally started shopping Delta around for a merger buddy like we all knew he would.