In Defense of the CEO

A $90,000 area rug, a pair of guest chairs that cost almost as much, a $35,000 toilet and a $1,400 trash can — these are just a few of the expenses from a remodeling of John Thain’s office when he took over as Merrill Lynch’s chief executive officer in December 2007. The total bill came to an astonishing $1.2 million — about the price of five average single-family homes.

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About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Websites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other websites, and for clarity’s sake, all outside posts run against a pink background.

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