Most people like myself like having quick access to the "Computer" and "Home" folder just like in Windows having the "My Computer" and "My Documents". Old habits die hard.
However, some googling found the following solution.
To display Computer, Home, Network and Bin Icons, perform the following:
Open the Configuration Editor, by running the program gconf-editor. This can be down from the terminal.
Tick the box beside computer_icon_visible, home_icon_visible, and trash_icon_visible. The changes take effect immediately.