Posted on 09/04/2022 4:24:37 AM PDT by Libloather
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.
(Excerpt) Read more at dailymail.co.uk ...
Obviously there’s a “back story” here. Wouldn’t it be nice if we had an intellectually curious media?
A bit drastic…
Too bad he didn’t have a bunch of My Pillows to land on.
they were ‘bringing in world class talent to offer new perspectives, expertise and experience as we rebuild our business.’
No talent can withstand a president intent on ruining the economy.
I shopped at the store a couple of times about a decade ago. My gut feeling was that it used up a lot of floor space, but simply didn’t have the week/monthly revenue to really pay for rent (they always selected high trendy places). Stock-wise, it bounced around from $15 to $25 for a long time....then hit some era (2010) where it was $40 to $60 for six years. Then it hit the 2017 point, where it was dropping every month. Whole thing is undervalued, and ought to be up for sale for a quarter of its value from five years ago.
How sad that money and status is what we live for....unfortunately, now he is “beyond”.
Go woke get ummmm broke?
Ben Bath Beyond shouldn’t have pissed off half its customers by dropping the My Pillow line.
Just thinking that
Isn’t the “My Pillows” thing, what caused them problems, to begin with? Self made problems for sure.
Back story is that he was probably laid off and didn’t have sufficient support to pay his rent.
Fauci got him
The Government response to COVID dictated by Fauci caused the shut down of the economy.
Trump’s germ phobia may be why he followed Fauci’s advice, but he must bare the blame also.
Trump’s trust in Pense may also have played a part in his following of Fauci’s murderous dictates. I must admit that I myself thought that Pense was a good man.
Just shows you how easily we can be deceived.
Even with all of the evidence out there huge numbers of people still believe that COVID killed hundreds of millions of people and that the vaccines saved millions. They also believe that masking up prevents transmission and saves lives.
Fear is the Mind Killer
-PJ
“Must be a board meeting.”
Unless it achieves escape velocity.
Sad.
You think you can pay your New York rent on that?
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