Real-Time Quote
US News
Page 1 of 4 | Next Page
Show Entire Article

Kneale: Citi Is Re-Decorating Too ... So?
CNBC.com | January 28, 2009 | 04:20 PM EST

Step aside and take solace, John Thain: The public flogging you just endured for spending $1.2 million to jazz up your now-vacant office at Merrill Lynch could subside once the sanctimonious mob moves on to other Wall Street titans who would dare redecorate their digs.

Next likely target: Citigroup [ C 27.79  -0.35 (-1.24%) ]. Though it is ailing mightily, Citi only recently began sprucing up an entire floor of offices for its senior-most executives at its headquarters in Manhattan, at 399 Park Avenue. That includes a new office for chief executive Vikram Pandit. If a disgruntled staffer leaks details of any new accoutrement and their price tags, the bank could come under new fire for its supposedly profligate ways.

Just down the street, J.P. Morgan Chase [ JPM 36.24  +0.45 (+1.26%) ] is close to completing a gut renovation of all 50 floors at its headquarters at 270 Park. Cost of the project, which began 18 months ago: A quarter of a billion dollars. Let any cushy details from that facelift surface, and JPM Chief Executive Jamie Dimon could have some ’splaining to do.

No doubt some other Wall Street giants have redone their offices, too. Let the witch hunt begin for the next CEO we can pillory for his fatcat ways.

Page 1 of 4 | Next Page
Show Entire Article
Real-Time Quote
omniture pixel