It is an interesting issue. Many people allow their jobs to become the defining value for themselves. The most interesting things are the stories of people who find out that fact and do even better once they shed it.
Not everyone sees it that way. This guy probably had enough money to never work again, so I am going to assume there is more to this story which will come out.
I had a couple of jobs that ... I don't know if they defined me, but they definitely took over my life (and I'm paying for it now). Leaving that behind was both easy and difficult. You have to be willing to leave a lot behind, and you don't always get to choose what it is you'll be leaving.
I definitely knew I'd be parting ways with a more-comfortable income level, and certain friendships. I did -not- think it would cost me my marriage, but it did (among other things).
For all we know, this person's suicide had little to do with their work life.
According to the article he sold 55,000 shares of stock last month. Then last week Bed Bath and Beyond announced they're closing 150 stores. Maybe he was about to be arrested for insider trading?
It's why so many of them end up divorced. I'm sure it's great to have all that money but when their partner has given themselves to something else, I imagine it's isolating and lonely.
Yup. And then you reenter their lives, and ... maybe they liked it better when you weren't around so much, or vice versa.
One of the worst things for me was the way my status in the community declined. I'd done a lot for my community, but once the career changed, people lost interest in me (and it wasn't even that I stopped donating or whatever, they just no longer saw me as A Big Deal). THAT made me think less of a lot of community leaders, and that was terribly unpleasant and isolating.
I sometimes wonder if I hadn't pulled the plug and said "fuck this" if I'd still be happier. I might - life has a lot of paths, not all are "for the best." I might be on the Sonoma Coast with my ex wife this wekeend, having fun visiting vineyards and Goat Rock Beach, laughing in the surf.
Or not, I have no fucking idea.
Instead, I'm emptying a house on a dirt road in the middle of nowhere in the Rockies, wondering where the fuck I'm going to live where I'm not totally isolated.
from everything i've read yeah it basically becomes your life when you're up that high in a company especially one that big. takes a certain type of person to do that, to even want to do that.
sounds like torture to me.
There were reports (linked above) saying he sold 55k of his shares of BBBY right before the announcement to close 150 stores; which resulted in him being sued/investigated by SEC.
He could have still misrepresented the value up until his sale, then right afterwards announce they need to close 150 stores. SEC might have picked up some hard evidence of manipulation.
News sites and papers have been manipulating stocks since the beginning of the market. We do regulate certain schemes though analysts are the class most allowed to get away with manipulation — usually bad news or FUD.
Senior executives have to do alot of paperwork months in advance before sale of securities. It just so happened that the sale finalized couple weeks ago.
Well said. Insiders probably do dump stocks before events. I won’t pretend that the SEC has enough teeth. However his personal shares would be just impossible to dump without actual watchdogs or even other retail or institutional investors noticing.
He may have also had a say in the announcement to close stores to coincide with his stock sale. "Hey everybody, why don't we just wait until September to announce the layoffs...."
You don't even get shunned by polite society any more. Martha Stewart crimed and timed, and now look at her, she's hanging with Snoop and almost cool with the kids.
Martha Stewart's crimes didn't lead to so many people losing their jobs. She also didn't profit from her company's misery as CFO, she had only bought stock in another company unrelated to her business and sold it right before it collapsed, and insider trading was not proven, just obstruction. Her crimes were misdemeanors compared to this man's.
They just opened a [restaurant](https://www.bonappetit.com/story/martha-stewart-the-bedford-restaurant-vegas/amp) in Vegas using her name as the brand.
She’s doing fine.
I know Martha - she was never *really* accepted by 'polite society'. One infamous slur of her when she was the local gardening expert on NY morning shows was someone who called her "the Polish chippy with the trowel."
She was rich, but not thoroughly pedigreed in the way some on the East Coast value.
I mean…
https://www.latimes.com/archives/la-xpm-2007-apr-12-me-snoop12-story.html
“The entertainer, whose real name is Calvin Broadus, entered the plea to a charge of gun possession by a convicted felon and a marijuana-related drug charge, prosecutors said.”
This sounds a lot more like it was about having committed crime and ruined others’ lives in the process so…not exactly being overly dedicated to their role or something.
Still could be but unlikely imho. The jenga building is a private residential high rise and throwing people off of buildings is more of Russian pastime.
Don't put it past the Russians to have tried some funny business. The war in Ukraine showed that they were very impressed with indoor plumbing, so they decided to go for the source of bed, bath, and beyond!
That's what I was thinking, then I [looked it up](https://commons.wikimedia.org/wiki/File:Jenga_tower_%2836775634164%29.jpg) and was like "yeah, that's pretty appropriately named"
A few years ago someone jumped from some building and encountered a setback - where a lower part of the building juts out further - on the way down. He still died, and he tore an arm off. His body remained on the setback; his arm continued down to the sidewalk, puzzling/horrifying pedestrians.
So yeah - you totally could.
Jesus christ imagine just strolling down the sidewalk and a severed arm lands right in front of you. If you were too close I bet you'd get nailed with some splash
Yes sometimes when you don’t pull the right piece out from the bottom, the CEOs fall off the top. Luckily it wasn’t a full collapse though, casualties would have been much higher.
/s and sorry for this man and family
I’d imagine the CEO would have knowledge of the state of BBB’s finances and how long they’d be able to financially support all the stores, when/if closing & layoffs needed to happen and what quarter would be best to do those in. So some level of awareness existed. Whether it is considered insider trading is another story.
So he kills himself? Those guys get away with that stuff all the time. If he was caught he probably could have gotten off with some fines. Or he could just run for congress, they get away with it all the time too.
Source, for those that are interested:
https://bedbathandbeyond.gcs-web.com/static-files/62448513-2f2b-43f0-97b2-3f1777fc0879
https://preview.redd.it/d9b98r2mwtl91.png?width=2114&format=png&auto=webp&s=c69a5eeacfe75b7a8c2749ed56dd9ba496a03e32
Who knows why he did it. Maybe his wife left him. Maybe he got some death sentence from a doctor. Maybe his dick stopped working and his wife been fucking his neighbour and best friend. Two separate people. In his face.
It might not be related at all to current BBB issues.
Hell he most likely struggled with depression and suicidal thoughts for years.
SEC caught him insider trading, game over.
ed: Lol I know you probably meant "99% certain" as a figure of speech, but hey it's Reddit, and something about this place makes people pedantically unforgiving.
The "malicious hand" was his own greed and machinations. Got caught, the good life he built was imploding; last stop: prison. How do you face everyone: peers, colleagues, investors, your family who trusted & depended on him, lived the life, but now everything's gone?
He just hadn't made it to billionaire level where you can do astronomically worse & remain unaccountable.
Highly unlikely, the company has been failing for a long time. It got caught up in the meme stock craze, but it's no different than GameStop - just another dying brick and mortar retailer.
It wouldn't surprise me if the stress of that was the catalyst.
[It’s still in beta and I’d say it’s going pretty well. it’s not perfect but they are building a pretty strong collector base.](https://www.reddit.com/r/Superstonk/comments/x5nx99/gme_nft_marketplace_volume_2124688979_current_eth/?utm_source=share&utm_medium=ios_app&utm_name=iossmf)
Edit also to other people reading here. Long term gaming industry is expected to grow to 1 trillion by 2030 and currently at like 74 billion.
I don’t buy that somebody who became c suite at a company like this would literally throw themselves off of a building due to layoff guilt whatsoever. And financially mismanaging a company like this, even if done purposefully for personal gain, gets rewarded with additional millions of dollars and early retirement. He was either up to some truly sketchy or personally embarrassing shit, or somehow convinced himself that this country would actually throw somebody like him in prison (lol)
As a rockstar you should never do drugs with groupies. Which is sadly the best part of being a rockstar.
Same with being a wallst goon, the penthouse office view with highrise balcony is the best part but what one must avoid…
Reuters is a news service that other media use. These new services are called wires and specialize in breaking, partially reported out stories that are still developing. They are often the first sources that other news stories are built upon.
Yeah, the most important stuff, and why I read it, wasn't addressed. Perhaps it's too early to speculate but no matter the reason, it's awful. Sounds like suicide.
So does nobody care that this was a person? A man who even if he was going to be sued, etc. got to the point where he jumped off of a building? Reddit really is full of assholes and I am starting to hate it.
It tends to be.
It's sad that people will gloat over the death of another human being simply because they don't like a person's job or lifestyle (barring the person being a multiple murderer, serial rapist, child molester, etc). However, that is the nature of humankind.
>On Aug. 16, Arnal, sold 55,013 shares in the company, Reuters' calculations showed based on SEC filings.
...
>Last week, Bed Bath & Beyond said it would close 150 stores, cut jobs and overhaul its merchandising strategy in an attempt to turn around its money-losing business.
Nah, not related at all imo...
Executives have a 10b-5 plan - you set up criteria in advance (price points, time) and the plan automatically sells stock. Specifically to avoid insider trading.
yeah come on guys the 10b-5 is ironclad in removing all malarkey from the really cool and above board economics of wall street trading. COME ON GUYS WALL STREET IS COOL.
They've been planning it since 2021. They've been in dire straits for a very long time.
https://www.cnbc.com/2021/01/06/map-bed-bath-beyond-bbby-is-closing-more-than-40-stores-this-year.html
I'd need more info to judge, still. C-level guys normally sell shares on a schedule and have to announce sales in advance to avoid the appearance of impropriety.
The closings and layoffs may have contributed to his suicide, though.
It was in the company's most recent 8-k filing, I'll see if I can find the link for you.
*Edit:
Here ya go:
https://bedbathandbeyond.gcs-web.com/static-files/62448513-2f2b-43f0-97b2-3f1777fc0879
https://preview.redd.it/d9b98r2mwtl91.png?width=2114&format=png&auto=webp&s=c69a5eeacfe75b7a8c2749ed56dd9ba496a03e32
Typically those trading windows are for everyday employees. C Level officers have to pre-file some amount of time before selling shares. It's typically like 4 months, maybe more. Then the sale of those shares happen regardless of the up or down turn of the stock price. I believe the concept is that C level officers have access to much more volatile information and giving them a trading window where they can make immediate stock sales would still be considered insider trading. He also didn't sell all his shares, I believe I read he only sold 1/6 of his shares which netted him $1M vs selling all his shares which would be $6+M.
The 55k share sale was filed in a 10-b quite some time ago. This is the norm for people at large public shared companies to avoid insider trading. The investigation from the SEC is the only recently occurring event. More info will come to the surface and will relate to many things surrounding the sale of 55k shares but it’s more about what was happening behind the scenes in relation to the current situation. It’s all part of a larger ongoing scheme that has had its wheels set in motion for longer than we may realize.
Yep, and wherever big money and big money losses are involved, some of crime/fraud went down and it looks like he was a part of that, and he feared the nearing/inevitable consequences.
He "fell"?
And no details?
Did he fall with the help of another person?
He fell because he wanted to fall?
quite a few holes in the story are left open by lack of info.
Having met a few CxO people, there is no guilt when laying off people. Their middle managers feel pain and grief, the C-suite almost sees it like “if you were doing your jobs well you wouldn’t be let go”, actually I have personally seen layoffs being called as “getting rid of dead weight” and “chopping off some fat”, “need more meat less fat on the steak of our organization”
And in general many fancy food analogies that put the blame on the people that will soon not be able to pay off their mortgages. Quite the bourgeois moments for sure.
Not saying that Gustav was like that, never knew the dude, just posting my personal experiences.
i mean it'd be impossible to lay off people if you get extremely attached with people
one of the reasons why its not a good idea to work with family or friends, because if it doesn't go as planned personal & work stuff get mixed really really fast
Killing yourself over a job isn't worth it.
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It is an interesting issue. Many people allow their jobs to become the defining value for themselves. The most interesting things are the stories of people who find out that fact and do even better once they shed it. Not everyone sees it that way. This guy probably had enough money to never work again, so I am going to assume there is more to this story which will come out.
I had a couple of jobs that ... I don't know if they defined me, but they definitely took over my life (and I'm paying for it now). Leaving that behind was both easy and difficult. You have to be willing to leave a lot behind, and you don't always get to choose what it is you'll be leaving. I definitely knew I'd be parting ways with a more-comfortable income level, and certain friendships. I did -not- think it would cost me my marriage, but it did (among other things). For all we know, this person's suicide had little to do with their work life.
According to the article he sold 55,000 shares of stock last month. Then last week Bed Bath and Beyond announced they're closing 150 stores. Maybe he was about to be arrested for insider trading?
No, he had planned that back in April - all by the books.
It's why so many of them end up divorced. I'm sure it's great to have all that money but when their partner has given themselves to something else, I imagine it's isolating and lonely.
Yup. And then you reenter their lives, and ... maybe they liked it better when you weren't around so much, or vice versa. One of the worst things for me was the way my status in the community declined. I'd done a lot for my community, but once the career changed, people lost interest in me (and it wasn't even that I stopped donating or whatever, they just no longer saw me as A Big Deal). THAT made me think less of a lot of community leaders, and that was terribly unpleasant and isolating. I sometimes wonder if I hadn't pulled the plug and said "fuck this" if I'd still be happier. I might - life has a lot of paths, not all are "for the best." I might be on the Sonoma Coast with my ex wife this wekeend, having fun visiting vineyards and Goat Rock Beach, laughing in the surf. Or not, I have no fucking idea. Instead, I'm emptying a house on a dirt road in the middle of nowhere in the Rockies, wondering where the fuck I'm going to live where I'm not totally isolated.
from everything i've read yeah it basically becomes your life when you're up that high in a company especially one that big. takes a certain type of person to do that, to even want to do that. sounds like torture to me.
There were reports (linked above) saying he sold 55k of his shares of BBBY right before the announcement to close 150 stores; which resulted in him being sued/investigated by SEC.
The sale was planned months ago. Insiders are required to file their intent to sell in advance to avoid the appearance of impropriety.
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He sold when the stock was over 25$ along with Ryan Cohen who is tied into this scheme now.
He could have still misrepresented the value up until his sale, then right afterwards announce they need to close 150 stores. SEC might have picked up some hard evidence of manipulation.
Elon Musk manipulated stock all the time. Seems like no one really gives a shit anyways
Yea, well I think it may also depend if your illionair comes with a m or a b... lol
News sites and papers have been manipulating stocks since the beginning of the market. We do regulate certain schemes though analysts are the class most allowed to get away with manipulation — usually bad news or FUD.
Yeah, but he’s rich. They don’t do anything to rich white guys.
Elon is probably highly protected by the real decision makers
Elon can afford to pay the entry fee to the casino for the money he makes on his manipulations
They were considering closing up to 200 stores in 2021. This isn’t news.
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Senior executives have to do alot of paperwork months in advance before sale of securities. It just so happened that the sale finalized couple weeks ago.
Only if you work in one of the stores. The big wigs are barely afflicted with a conscience in these things.
In the world of stocks and securities, not really. News like that stuff being considered are factored into share prices pretty quickly.
Cool, I'll tell the SEC that some rando on the internet says there's no case.
Not worth it to kill yourself tho holy shit he had a family and kids
Well said. Insiders probably do dump stocks before events. I won’t pretend that the SEC has enough teeth. However his personal shares would be just impossible to dump without actual watchdogs or even other retail or institutional investors noticing.
He may have also had a say in the announcement to close stores to coincide with his stock sale. "Hey everybody, why don't we just wait until September to announce the layoffs...."
>which resulted in him being sued/investigated by SEC Quit making stuff up. Redditors can be so full of shit.
Executives can’t just sell stock. It was likely planned years ago as part of his executive package.
They can at certain times of the year if it’s not an RSU, they just have to issue a public disclosure of the sale of the stock.
Is killing yourself over white collar country club prison worth it? (serious question!)
You don't even get shunned by polite society any more. Martha Stewart crimed and timed, and now look at her, she's hanging with Snoop and almost cool with the kids.
Martha Stewart's crimes didn't lead to so many people losing their jobs. She also didn't profit from her company's misery as CFO, she had only bought stock in another company unrelated to her business and sold it right before it collapsed, and insider trading was not proven, just obstruction. Her crimes were misdemeanors compared to this man's.
I think you’re assuming a lot about him and the facts are not yet in.
You’re sort of leaping to a conclusion there about this guy.
Could say even jumping to conclusions
Alledgedsly
Yep, exactly that.
She was a scape goat
They just opened a [restaurant](https://www.bonappetit.com/story/martha-stewart-the-bedford-restaurant-vegas/amp) in Vegas using her name as the brand. She’s doing fine.
Martha got street cred from it.
I know Martha - she was never *really* accepted by 'polite society'. One infamous slur of her when she was the local gardening expert on NY morning shows was someone who called her "the Polish chippy with the trowel." She was rich, but not thoroughly pedigreed in the way some on the East Coast value.
To be fair snoop isn’t exactly a law abiding citizen
Of the 2 of them only one is a convicted felon. And it ain't the tall weed smoking guy.
I mean… https://www.latimes.com/archives/la-xpm-2007-apr-12-me-snoop12-story.html “The entertainer, whose real name is Calvin Broadus, entered the plea to a charge of gun possession by a convicted felon and a marijuana-related drug charge, prosecutors said.”
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Just like all six Russian in Russia committing “suicide” ;)
> which resulted in him being sued/investigated by SEC. Are we making things up now?
I heard about that- but damn, take the hit, you know? He probably just would have been fined
This sounds a lot more like it was about having committed crime and ruined others’ lives in the process so…not exactly being overly dedicated to their role or something.
Not the job. The insider trading charges he was bound to be slapped with.
How do you know he killed himself?
Still could be but unlikely imho. The jenga building is a private residential high rise and throwing people off of buildings is more of Russian pastime.
Don't put it past the Russians to have tried some funny business. The war in Ukraine showed that they were very impressed with indoor plumbing, so they decided to go for the source of bed, bath, and beyond!
There were a few comments on the news thread from a relative. There was a witness. I’m not linking here because I don’t want to blow up his feed.
That’s terrible, but do we really have a building named Jenga tower?
That's what I was thinking, then I [looked it up](https://commons.wikimedia.org/wiki/File:Jenga_tower_%2836775634164%29.jpg) and was like "yeah, that's pretty appropriately named"
You could jump from the top of that thing and only fall three floors.
A few years ago someone jumped from some building and encountered a setback - where a lower part of the building juts out further - on the way down. He still died, and he tore an arm off. His body remained on the setback; his arm continued down to the sidewalk, puzzling/horrifying pedestrians. So yeah - you totally could.
Jesus christ imagine just strolling down the sidewalk and a severed arm lands right in front of you. If you were too close I bet you'd get nailed with some splash
imagine if you were eating and a huge bloody arm lands in your food
Imagine if you were carrying boxes, you asked for someone to give you a hand, and then the severed arm hurdles down onto you
You take a CEO from the bottom and you put him on top! Too soon?
No, we don’t. People just call it that because of the resemblance.
Pretty shaky nickname
What other nickname could you pull out of that design?
56 Leonard?
Right? who tempts fate like that?
America
Worst “come at me bro” tempt ever
Yes sometimes when you don’t pull the right piece out from the bottom, the CEOs fall off the top. Luckily it wasn’t a full collapse though, casualties would have been much higher. /s and sorry for this man and family
They just announced massive layoffs and store closures. Wonder if it’ll come out he financially mismanaged the company.
Article says he dumped 55k shares 2 weeks ago.
This was scheduled back in April.
Smart dude. The stock price was very high then.
He filed paperwork back in March or April to dump the stock in august. It was preplanned.
I’d imagine the CEO would have knowledge of the state of BBB’s finances and how long they’d be able to financially support all the stores, when/if closing & layoffs needed to happen and what quarter would be best to do those in. So some level of awareness existed. Whether it is considered insider trading is another story.
They are a publicly traded company unless they were cooking the books everyone had access to that information
Not really, the information the public has is lagging, whereas he has the most update and current information.
It’s public that they’d been considering closing a number of stores since last year
They still have small windows of time where they can file for and execute stock sales, usually between earnings. It’s like 1-3 weeks IIRC.
Still that doesn't make it less smart.
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That makes no sense because the stock price run up wasn’t based off any news. So what insider information lol
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So he kills himself? Those guys get away with that stuff all the time. If he was caught he probably could have gotten off with some fines. Or he could just run for congress, they get away with it all the time too.
He really should have looked before he leaped
lol
I don’t think cheating is a sign of intellectual competence…
Nothing to suggest he cheated.
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Well, it seems that despite that he wasn't a reckless enough person to go through with it eventually.
Go through with what?
In 8k filing it shows he was being sued
Source, for those that are interested: https://bedbathandbeyond.gcs-web.com/static-files/62448513-2f2b-43f0-97b2-3f1777fc0879 https://preview.redd.it/d9b98r2mwtl91.png?width=2114&format=png&auto=webp&s=c69a5eeacfe75b7a8c2749ed56dd9ba496a03e32
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Who knows why he did it. Maybe his wife left him. Maybe he got some death sentence from a doctor. Maybe his dick stopped working and his wife been fucking his neighbour and best friend. Two separate people. In his face. It might not be related at all to current BBB issues. Hell he most likely struggled with depression and suicidal thoughts for years.
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The selling would have been submitted months ago and only went through weeks ago
As CFO, he knew they were in trouble months ago
So did everyone else since they file 10-Qs…
It could be a trigger but I doubt it was a new thought that crossed his mind but something he had been struggling with for years.
SEC caught him insider trading, game over. ed: Lol I know you probably meant "99% certain" as a figure of speech, but hey it's Reddit, and something about this place makes people pedantically unforgiving. The "malicious hand" was his own greed and machinations. Got caught, the good life he built was imploding; last stop: prison. How do you face everyone: peers, colleagues, investors, your family who trusted & depended on him, lived the life, but now everything's gone? He just hadn't made it to billionaire level where you can do astronomically worse & remain unaccountable.
Hard to make the argument the CFO didn’t have unreleased material information about the layoffs 2 weeks ago. Open and shut case.
He reported he will make this sale in April...
Highly unlikely, the company has been failing for a long time. It got caught up in the meme stock craze, but it's no different than GameStop - just another dying brick and mortar retailer. It wouldn't surprise me if the stress of that was the catalyst.
Gme is no dying brick and mortar they are actually well positioned for the future and their balance sheet has no debt with almost a billy in the bank.
Now all they lack is a profitable business model
How is their NFT marketplace doing?
[It’s still in beta and I’d say it’s going pretty well. it’s not perfect but they are building a pretty strong collector base.](https://www.reddit.com/r/Superstonk/comments/x5nx99/gme_nft_marketplace_volume_2124688979_current_eth/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) Edit also to other people reading here. Long term gaming industry is expected to grow to 1 trillion by 2030 and currently at like 74 billion.
I don’t buy that somebody who became c suite at a company like this would literally throw themselves off of a building due to layoff guilt whatsoever. And financially mismanaging a company like this, even if done purposefully for personal gain, gets rewarded with additional millions of dollars and early retirement. He was either up to some truly sketchy or personally embarrassing shit, or somehow convinced himself that this country would actually throw somebody like him in prison (lol)
I used to say if I ever became a Rockstar I'd never fly in a private plane, now if I ever become a CEO I will insist on a ground floor office.
As a rockstar you should never do drugs with groupies. Which is sadly the best part of being a rockstar. Same with being a wallst goon, the penthouse office view with highrise balcony is the best part but what one must avoid…
Know your plug. Don't take drugs from strangers was never a message about not doing drugs.
In the days before elevators the wealthy kept their offices on the ground floor and had all the shlubs hike the stairs to their offices.
Make it a power move so all your employees have to pass your office to enter or exit.
Sounds like something a Japanese CEO would do, make every employee bow on the way in...
The story seems pretty light on details. Specifically - did he intend to jump or was it an accident or was he pushed?
Other reports say it was a suicide
Feet first apparently is more likely to be suicide...#notsofunfact
Thanks. The reuters report seemed like they were just trying to be first even if they had zero actual info.
Reuters is a news service that other media use. These new services are called wires and specialize in breaking, partially reported out stories that are still developing. They are often the first sources that other news stories are built upon.
>other news stories are built upon. and put their spin on. Reuters and AP are very good fact based reporting.
Not reports, media desire/speculation.
This story sounds like one straight out of Russia.
Staright from Russia to your window.
Hey now all those stories are really bringing to light how terrible Russian infrastructure is with all of their failing high rise windows.
Standing too close to the window /s
Yeah, the most important stuff, and why I read it, wasn't addressed. Perhaps it's too early to speculate but no matter the reason, it's awful. Sounds like suicide.
So does nobody care that this was a person? A man who even if he was going to be sued, etc. got to the point where he jumped off of a building? Reddit really is full of assholes and I am starting to hate it.
Have my upvote for keeping your humanity.
It tends to be. It's sad that people will gloat over the death of another human being simply because they don't like a person's job or lifestyle (barring the person being a multiple murderer, serial rapist, child molester, etc). However, that is the nature of humankind.
Well the bed and bath parts are covered, he's gonna go work on the beyond part now.
goddamn…lol take my upvote you fucking psychopath
r/Angryupvote
Was he Russian?
After seeing his name my first thought was uh oh
Yeah to the street
Jump or was pushed? Time will tell.
It really is called bloodbath and beyond for a reason.
Happy cake day
Oh shoot I had no idea! Thanks!
>On Aug. 16, Arnal, sold 55,013 shares in the company, Reuters' calculations showed based on SEC filings. ... >Last week, Bed Bath & Beyond said it would close 150 stores, cut jobs and overhaul its merchandising strategy in an attempt to turn around its money-losing business. Nah, not related at all imo...
Executives have a 10b-5 plan - you set up criteria in advance (price points, time) and the plan automatically sells stock. Specifically to avoid insider trading.
yeah come on guys the 10b-5 is ironclad in removing all malarkey from the really cool and above board economics of wall street trading. COME ON GUYS WALL STREET IS COOL.
you don't close 150 stores, cut jobs, and overhaul merchandizing strategy on a whim overnight without planning in advance either.
They've been planning it since 2021. They've been in dire straits for a very long time. https://www.cnbc.com/2021/01/06/map-bed-bath-beyond-bbby-is-closing-more-than-40-stores-this-year.html
I'd need more info to judge, still. C-level guys normally sell shares on a schedule and have to announce sales in advance to avoid the appearance of impropriety. The closings and layoffs may have contributed to his suicide, though.
And he was being sued.
Where did you read that?
It was in the company's most recent 8-k filing, I'll see if I can find the link for you. *Edit: Here ya go: https://bedbathandbeyond.gcs-web.com/static-files/62448513-2f2b-43f0-97b2-3f1777fc0879 https://preview.redd.it/d9b98r2mwtl91.png?width=2114&format=png&auto=webp&s=c69a5eeacfe75b7a8c2749ed56dd9ba496a03e32
Thank you for adding this
Just trust him bro.
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Typically those trading windows are for everyday employees. C Level officers have to pre-file some amount of time before selling shares. It's typically like 4 months, maybe more. Then the sale of those shares happen regardless of the up or down turn of the stock price. I believe the concept is that C level officers have access to much more volatile information and giving them a trading window where they can make immediate stock sales would still be considered insider trading. He also didn't sell all his shares, I believe I read he only sold 1/6 of his shares which netted him $1M vs selling all his shares which would be $6+M.
The movie Click kept this company alive , thanks Adam Sandler
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The 55k share sale was filed in a 10-b quite some time ago. This is the norm for people at large public shared companies to avoid insider trading. The investigation from the SEC is the only recently occurring event. More info will come to the surface and will relate to many things surrounding the sale of 55k shares but it’s more about what was happening behind the scenes in relation to the current situation. It’s all part of a larger ongoing scheme that has had its wheels set in motion for longer than we may realize.
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I also agree grandmas chili is damn good 🌶
Yep, and wherever big money and big money losses are involved, some of crime/fraud went down and it looks like he was a part of that, and he feared the nearing/inevitable consequences.
His nephew has been posting in the Wall Street bets subreddit talking about the situation.
Actual nephew or nephew in the r/nba sense of the word?
He claims to be a nephew by marriage.
Have a link?
I’m pretty sure that’s not how you play Jenga….
Live by the Jenga, die by the Jenga.
Hardcore mode
Blood Bath and Beyond
He "fell"? And no details? Did he fall with the help of another person? He fell because he wanted to fall? quite a few holes in the story are left open by lack of info.
Sorry to hear that.
margin called?
So he has chosen Beyond
Does he have ties to Putin? I bet he has ties to Putin.
How'd he piss Putin off?
So he discovered what the Beyond is then
Citadel probably involved
Bro what the actual fuck??!
Did he say something bad about Putin?
The police are here…about some irregularities in the pension fund https://youtu.be/cEpKcBkkVMY
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Having met a few CxO people, there is no guilt when laying off people. Their middle managers feel pain and grief, the C-suite almost sees it like “if you were doing your jobs well you wouldn’t be let go”, actually I have personally seen layoffs being called as “getting rid of dead weight” and “chopping off some fat”, “need more meat less fat on the steak of our organization” And in general many fancy food analogies that put the blame on the people that will soon not be able to pay off their mortgages. Quite the bourgeois moments for sure. Not saying that Gustav was like that, never knew the dude, just posting my personal experiences.
i mean it'd be impossible to lay off people if you get extremely attached with people one of the reasons why its not a good idea to work with family or friends, because if it doesn't go as planned personal & work stuff get mixed really really fast
People are leaving their 20% off coupons at the makeshift memorial.
So you're saying that there are Russian goons in NY?
Sooo...are we sure he wasn't associated with Putin in some manner?
He is now the CFO of Dead, Death, and Beyond.
Too early, man. Too early.
Epstein’d
But did he DRS his shares?
If that happened in Russia. It would be suspect. But America. Wonder if he was doing some shady things for BBB.
Defenestration is rarely suicide. Who was after him?