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 ...
>>>> What goes up, must come down <<<<
What goes up, must come down
Spinning wheel got to go round
Talkin’ ‘bout your troubles, it’s a cryin’ sin
Ride a painted pony, let the spinning wheel spin
You got no money and you, you got no home
Spinning wheel, all alone
Talkin’ ‘bout your troubles and you, you never learn
Ride a painted pony, let the spinning wheel turn
Somewhere Mike Lindell is saying “it didn’t need to be this way”
I agree there is something else going on here, and I am sure that the Daily Mail will find the story they seem to be the ONLY media t9day with ANY curiosity!!
Shame he did not have piles of My Pillows to land on.
“ Too bad he didn’t have a bunch of My Pillows to land on.”
That’s funny right there. Sad as it is.
“Katy Lied” was a GREAT album!
Walter Becker played the solo on “Black Friday”
A Russian does it and it’s international news. But there have been a lot of folks in New York lately going off balconies, out windows, or off roofs.
Don’t visit New York without a sturdy umbrella
Never been accused of being smart?
Pretty sure that person isn’t firing on all cylinders. You’re likely wasting your time.
When BB&B got rid of MyPillows, they lost me and my purchases.
Heh. Didn’t see yer comment before i posted.
When senior execs get laid off, they get really nice going away presents to keep their mouth shut and behave. Unless the feds were leaning on him, there was no reason for him to be dealt with.
Some people will do anything to get out of the Hell-hole New York has become. U-haul would have been less messy!
$7 million in cash would soon be just enough to start a fire of stolen fenceposts and dirty rags in a 55 gallon drum to stay warm in winter.
Chasing after the wind…
“criminal charges for insider trading”
That is the way I see it as well.
It sure looks like it would be a slam dunk criminal case.
Was he vaccinated?
You forgot the sarcasm tag on your post.
In all fairness, I used to shop at BB&B. But Their inventory can be had for less from Amazon. I think that might have had more to do with their lackluster sales.
If they can get Martha Stewart for trading on rumors, a CFO is easy meat.
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