Exec Of Major Retailer Dies In Plunge From NYC Hi-Rise As Firm Plans Mass Firings

[mountaineer]

Exec Of Major Retailer Dies In Plunge From NYC Hi-Rise As Firm Plans Mass Firings
By  Greg Wilson
Sep 4, 2022   DailyWire.com

A top executive at retail chain Bed Bath & Beyond jumped to his death from a Manhattan high-rise two days after the struggling company announced plans to slash its workforce and close 150 stores.

Gustavo Arnal, 52, who was the company’s chief financial officer, leapt from the 18th floor of the iconic 57-story Tribeca building known as the Jenga tower, where apartments sell for as much as $50 million. The company’s reorganization plans comes amid a nearly 70% slide in its stock price over the last year driven by slumping sales and a “meme” trading trend.  ...

The company, which has 900 stores, intends to lay off 20% of its 32,000 employees. Arnal sold over 42,000 shares of the company, whose stock symbol is BBBY, for $1 million just over two weeks ago, according to MarketBeat.com. He retained 267,896 shares, valued at the time at over $6 million. ...

More at Daily Wire

[mountaineer]

Bed Bath & Beyond exec ID’d as Tribeca ‘Jenga Building’ jumper: source
By Tina Moore, Rich Calder and Amanda Woods   
September 4, 2022 1:10am

The chief financial officer of troubled Bed Bath & Beyond has been identified as the man who jumped to his death from the iconic new Tribeca skyscraper known as the “Jenga Building,” The Post has learned.

Gustavo Arnal, 52, who was also an executive vice president for the struggling home goods retailer, plunged from the 18th floor of 56 Leonard Street on Friday, police sources said.

The 60-story building is best known for its purposely misaligned apartments stacked atop each other, resembling the popular game “Jenga.”

Messages left with Bed Bath & Bed and Arnal’s family Saturday were not immediately returned.

On Aug. 16, Arnal sold 42,513 shares in company stock for a little over a $1 million, according to MarketBeat.com. ...

NY Post
BB&B is one of the retailers - like Walmart - that stopped carrying My Pillow because of Mike Lindell's vocal support for Trump.

[Gefn]

Awful. Peace to this poor man and his family

[catfish1957]

A CFO of a company the the size of BB&B, would (should) have enough stock options, nest egg to avoid financial ruination.

I think there is some back story we aren't privy to, besides just poor corporate performance.

[Kamaji]

A CFO of a company the the size of BB&B, would (should) have enough stock options, nest egg to avoid financial ruination.

I think there is some back story we aren't privy to, besides just poor corporate performance.

I’m thinking the same thing.  If the CFO took a concrete dive, that implies potential financial chicanery about to be divulged. 

[Fishrrman]

https://www.dailymail.co.uk/news/article-11178041/Bed-Bath-exec-52-identified-man-jumped-death-18th-floor-NYC-tower.html

Bed Bath & Beyond CFO, 52, is identified as man who jumped to his death from 18th floor of NYC's 'Jenga' tower - two days after firm announced plans to lay off 20% of staff and close 150 stores
by Stephen M. Lepore
9/4/22

The man who jumped to his death from the 18th floor of the famous 'Jenga' tower in lower Manhattan's Tribeca neighborhood Friday has been identified as a Bed Bath & Beyond executive.

Gustavo Arnal, 52, was the Chief Financial Officer of Bed Bath & Beyond, a company that has been going through struggles of late due to high inflation and a sagging economy. The company announced plans to close 150 stores, of its roughly 900, and lay off 20 percent of staff just two days before Arnal's death.

He reportedly sold over 42,000 shares in the company, oft-identified as a 'meme stock', for $1million just over two weeks ago, according to MarketBeat.com.

At the time, he still owned 267,896 shares in the company, valued at just under $6.5million.

Arnal moved to Bed Bath & Beyond in 2020 - when the company was already struggling due to the coronavirus pandemic - from London-based cosmetics giant Avon, where he was also CFO, and had spent 20 years at Proctor & Gamble.

When Arnal was brought to Bed Bath & Beyond in April 2020 a company spokesman said in a statement they were 'bringing in world class talent to offer new perspectives, expertise and experience as we rebuild our business.'

'Gustavo exemplifies this and his experience delivering business transformation at other leading companies, his deep knowledge of the retail and consumer goods space, as well as his energy and drive will help accelerate our transformation plans.'

Calls regarding the jump at 56 Leonard Street near Church Street came in at around 12:30pm Friday, according to a spokeswoman for the NYPD. Arnal was identified as the jumper at the 57-story building - where apartments go for up to $50million - on Friday afternoon, according to the New York Post.

more at URL above...

[Wingnut]

Kamikaze from
The hundredth floor
Swan dive to the street
He couldn't handle
This madness no more
He craved that sweeter meat..

Dog eat Dog

[roamer_1]

Kamikaze from
The hundredth floor
Swan dive to the street
He couldn't handle
This madness no more
He craved that sweeter meat..

Dog eat Dog

Or a long walk off a short pier...
involuntary suicide...
Who knows?

[corbe]

   Perhaps, Get Woke, Go Broke can have fatal consequences also.

[mountaineer]

Shades of 1929.

[libertybele]

How tragic!   

Bed Bath and Beyond issue statement on death of CFO Gustavo Arnal: ‘Will be truly missed’

Bed Bath and Beyond issued a statement on Sunday announcing the death of Executive Vice President and Chief Financial Officer Gustavo Arnal.

The company confirmed that Arnal, 52, died on Friday, but did not elaborate on how he died.

"I wish to extend our sincerest condolences to Gustavo's family," Harriet Edelman, Independent Chair of the Bed Bath & Beyond Inc. Board of Directors, said in a written statement. "Gustavo will be remembered by all he worked with for his leadership, talent and stewardship of our Company."

"I am proud to have been his colleague, and he will be truly missed by all of us at Bed Bath & Beyond and everyone who had the pleasure of knowing him," Edelman continued. "Our focus is on supporting his family and his team and our thoughts are with them during this sad and difficult time. Please join us in respecting the family's privacy."


Arnal joined Bed Bath and Beyond in May 2020 after previously holding executive roles at beauty company Avon, Walgreens Boots Alliance, and Procter and Gamble, where he worked for over 20 years.

He reportedly died after jumping from 18th floor of a tower in Manhattan’s Tribeca section known as the "Jenga Building," the New York Post first reported, citing police sources.............

https://www.foxbusiness.com/business-leaders/bed-bath-beyond-issue-statement-death-cfo-gustavo-arnal-truly-missed

[Mod2]

Threads merged

[libertybele]

Shades of 1929.

Indeed...it certainly gave me an eerie feeling....

[Kamaji]

Shades of 1929.

With a single company that is in bankruptcy?  More like shades of Enron. 

[Hoodat]

Shades of 1929.

Black Friday

[mountaineer]

With a single company that is in bankruptcy?  More like shades of Enron.

I was thinking of how the Dow keeps sinking, and people lose more and more money.