Company CFO Jumps Off Building After Month of Stock Drops, Layoffs & Store Closures

I remember when my wife was still alive she shopped there, but always complained about the prices and service. This was back before Amazon and the internet with all the different shopping options.
 
10-15 years ago actually not that bad on numerous things and even had a small vitamin and personal care section ie soaps, aspirin etc. Use a coupon got deals. But lately not bargin at all.

The Sears CEO wanted cater to high end customers after he merged them with Kmart and they went bankrupt. Stores need people in them shopping and items & prices to get them there.

The CFO isn't the chief strategy officer but they get blamed for the numbers. And keeping stock up. An activist investor sold all of their shares in one day which caused a 30% drop. I wonder if the CFO gave him detailed finance information he shouldn't have.

It could get like 1929 all over again in this environment
 
I went once. When I went to pay, the guy at the cash register made a big deal that my license was expired. I hadn't gotten my camera card yet and wasn't carrying around the document to get the camera card. He made a big dust up and called for the manager, everybody was staring. The manager looked at the card and looked at me and laughed. Then he said it was ok. I didn't even drive there. What a jerk kid. Never went back. I hate when do-gooders must act out their fantasies. Oh ya. Can't wait to call the po-leece on this old lady. Not surprised the CFO had to make his suicide X-tra dramatic too.
 
WhatInThe said:
The CFO of Bed Bath and Beyond apparently committed suicide by jumping of a building in NYC after a month in which his company had a 30% stock drop and poor results which led to store closures & layoffs.
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Pepper said:
What a dopey reason to kill yourself.
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Maybe more to the story, seems to me that if he did nothing illegal or immoral the stock dropping alone shouldn't have caused this. Just guessing, I don't know anything.
 
It seemed to have started with a college student...
https://nypost.com/2022/08/18/college-student-makes-110m-trading-shares-of-bed-bath-beyond/

Then there is the matter of Ryan Cohen...
https://markets.businessinsider.com...an-cohen-sec-investigation-jay-clayton-2022-8

And while the S.E.C. may or may not do anything, lawyers for the stockholders (Friday) are...
https://www.prnewswire.com/news-rel...olders-of-bed-bath--beyond-inc-301617240.html

Not saying the CFO was guilty of anything, but his near simultaneous sales would raise additional eyebrows.
 
What a dumb idiot! Life is precious and it's only money. It appears that money is more valuable to some of these turkeys then life itself. I suppose one must be a money greedy individual to understand the logic of such an action. His actions are a sad reflective of a society going in the wrong direction.
 

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I wonder why someone would do something like that. Was he living beyond his means even at his income level? Could he not take a drastic cut in pay or didn't want to? He clearly had experience running a large company and could find employment even in a lesser position. Terrible personal issues going on? It's hard to know. Sad that he didn't see an alternate.

Edit to add: Never a fan of the store, especially being a thrift shopper. If I need sheets or something, I'm at Ross stores. I have a clothes drying rack I got there.
 
As my late wife liked to say, "Things happen for a reason." She also loved to say "when one door closes, another door opens." Too bad for this guy that his vision was so limited and so narrow that he couldn't see that in life there is always Plan B. If that doesn't work, try Plan C. If all you see is the almighty dollar being the "measure of a man" then all you see is that people are here on this planet only for the purpose of making more and more and more and more money. Very sad and very narrow view of life.
 
Bed Bath & Beyond CFO who died after falling from NYC high rise was subject of insider trading and fraud lawsuit just before death, documents show

Bed Bath & Beyond Chief Financial Officer Gustavo Arnal was found dead on Friday after falling from a NYC building.
His death came less that two weeks after he was named in a federal class-action lawsuit for insider trading.
The lawsuit claims Arnal and activist investor Ryan Cohen collaborated in a "pump and dump" scheme to artificially inflate the company's stock.

https://www.businessinsider.com/bed-bath-and-beyond-cfo-found-dead-insider-trading-lawsuit-2022-9

If that's true, good riddance.
 
SeniorBen said:
His death came less that two weeks after he was named in a federal class-action lawsuit for insider trading.
The lawsuit claims Arnal and activist investor Ryan Cohen collaborated in a "pump and dump" scheme to artificially inflate the company's stock
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When I heard the activist investor sold all his shares in one day you knew something was off. I thought he alone might have been trying a dump then come in and buy more for more control. But selling off entire stake in one day-red flag
 
I don't think we have that company over here in the UK - perhaps our own version of it perhaps. I do think its terribly sad that the CEO thought the only answer was to die. :confused:
 
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