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John Thain Is Ready For His Next Challenge

After he was unceremoniously fired from his post at the newly formed Bank of America Merrill Lynch, for reasons that included paying out big bonuses to ML executives and decorating his office with $1,500 garbage cans, John Thain understood that he would have to recede from the limelight for a bit. Take a job at a smaller firm and keep his head down for a while. Spend more time with his honeybees. Get back to his fighting weight. Drink a raw egg for breakfast every day. Run up and down the stairs of the Met. Work in a hideously decorated space, no matter how much it hurt.  Win some awards. Get his confidence back. Let people miss him. Well, Thain did all that. And now? He’s ready for you to make him an offer.

Thain, currently the CEO of a small lending outfit called CIT Group, has been quietly shopping the firm to a larger player with the goal of selling possibly to a big bank and emerging as a candidate to run the bigger company, according to investment bankers with direct knowledge of the matter. Bankers say Thain began putting out feelers to sell CIT after the firm failed in its bid to purchase ING Direct earlier in the year. “They’ve been shopping themselves off and on because they have virtually no deposit base and thus no low-cost source of funds to run their business,” said one banker at a major firm with knowledge of CIT’s activities. “Thain may also be putting out feelers, trying to get a drumbeat going. Who knows, but it’s certain he’s up to something.”

Who wants to give him a big boy bank (or something) to run?

Looking For A Comeback, John Thain Shops CIT [FBN]

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66 Responses to “John Thain Is Ready For His Next Challenge”

  1. agreatdaytothink says:

    Pass.

    Board of Directors
    Mulholland Bros.

  2. Mexi_Cant says:

    Wait your turn

    -K.Lewis

  3. UFO says:

    Prepare to be vikulated

    – CitiBorg

  4. Abe_Froman_ says:

    Fuck BAML, that can was a steal at $1,405
    -JT

  5. Guest says:

    CALL US BRO MAN DUDE

    JCORZY & D.FULDMAN

  6. Boo says:

    My garden could use some weeding. Is he available now?

  7. guest says:

    he also did some skiing during his time off. oh wait, no, that was during his time on.

  8. lance mannion says:

    this fucking guy…

  9. Billbelchwick says:

    Clark Kent look a like

  10. zzPotz says:

    Afghanistan

  11. Kelly says:

    Intern for Al Sharpton on MSNBC

  12. Guest says:

    Back to building replicants?

    -Blade Runner

  13. guest says:

    Just a ploy so he can get back to his true calling as an interior decorator.

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  52. guest says:

    Now who would not want to hire this guy to run their company
    1) Take a crappy company
    2) Try to make it profitable by gambling but abjectly failing
    3) Find someone stupid (preferably from south) to buy crap at exorbitant price
    4) PROFIT

    -a guy who will buy shares of any company Thain runs

  53. Steve Case says:

    I absolutely agree.

  54. _guest says:

    "What's up? This is John Thain. I've got a deal for you…you buy this company I'm CEO of and then place me in line to be the next CEO of your company. It's an obvious win-win for me. Interested? Call me."

    Cold call message left on every bank CEO's voicemail yesterday morning by J. Thain

  55. lesbian chimpanzee says:

    CEO of Bonobos?

  56. Rocky Dennis says:

    Thain and Gundlach side by side? Someone whacked DB with the ugly stick…

  57. leeminbrahs says:

    Get back to his fighting weight. Drink a raw egg for breakfast every day. Run up and down the stairs of the Met.

    You forgot to mention: Start to punch meat and fall in love with a girl who works at Petco.

  58. Kirby says:

    Have you considered the exciting career of door-to-door vacuum sales?

  59. How is it that just anyone can write a weblog and get as popular as this? Its not like youve said anything incredibly impressive more like youve painted a quite picture above an issue that you know nothing about! I dont want to sound mean, here. But do you actually think that you can get away with adding some quite pictures and not seriously say something?

  60. Anonymous says:

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  61. guest says:

    whatever happened to wideclopstrading.com