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John Thain's new turnaround challenge

CNN Money  • Feb 8, 2010

NEW YORK (Fortune) -- Not so long ago, John Thain's legacy was that of the Merrill Lynch CEO who redecorated his office for $1.2 million before selling the dying investment firm to Bank of America in a controversial deal that is now under criminal investigation. But now that Thain has been tapped to steer CIT Group (CIT, Fortune 500) out of its post-bankruptcy wilderness, he could be remembered as much more than the man who bought a $35,000 office toilet. He could become one of finance's greatest turnaround artists. That is because Thain has stepped into the breach before and… Full Story »

Topics:
• Sales
• Initial Public Offering
• Bankruptcy
• Credit
• NYSE

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