Bed bath and beyond CFO jumps to his death

[Demovictory9]

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

Calls regarding the jump at 56 Leonard Street near Church Street came in at around 12:30pm on Friday, according to a spokeswoman for the NYPD
The city's EMS officials responded to the incident and were seen carrying the man's body off in a black body bag at the base of the famous Manhattan tower
The man was pronounced dead before leaving the scene
He was identified as Gustavo Arnal, Chief Financial Officer of Bed Bath & Beyond, early Sunday morning
Bed Bath & Beyond announced just days earlier that it would have to lay off 20% of its staff and close 150 stores nationwide as high inflation and a sagging economy hammer large US companies
Arnal took on the role of CFO in 2020, having previously worked as an executive at several major companies including Avon, Walgreens, and Procter & Gamble

[True Blue American]

1. That is sad!

He could not control what happened in the pandemic.

[thesquanderer]

11. We don't really know why he did it (at least from that article)

I wouldn't assume it was over the company's ill fortunes.

For all we know, he could have been having difficulties in his relationship/personal life. Or he could have been suffering from depression. Or he could have done something illegal (e.g. insider trading of some sort) and thought he was about to be discovered and ultimately imprisoned. Who knows?

[3Hotdogs]

15. Or a bad medical diagnosis.

[Demovictory9]

97. More details coming out..something about him being sued for "pump and dump" scheme

[Auggie]

2. Tragic .. this and the whole BB&B story.

I remember it as a great store when they first opened. Quality merchandise, well-displayed, and well-kept. But the last few times I stepped foot into their stores they resembled a bad Wal-Mart franchise. Haven't bothered to return in years.

[appalachiablue]

13. Same, they were good yrs ago but things changed, too bad.

[Volaris]

80. My conclusion is that what u said is all that needs to be said re:

US in-person retail.

There is NO REASON for traditional department store retail to exist outside of online purchasing at this point in the history of the internet, minus a very few select speciality fields (getting fitted for a new suit, as an example)...and those shops can get by with strip mall rental prices as opposed to locations in major malls.

[Auggie]

84. I want to touch a pillow before I buy it ...

and compare it with others.

[Volaris]

90. I 100% agree. If Mike Lindell wants to NOT go bankrupt, he will open a shop

That sells not-my-pillows...but he won't cause that would require he be smarter than your average trumper

[LiberalBrooke]

3. I tried to order something online and was unable to.

The store did not have it in stock and the web site was totally unworkable. Multiple tries and calling the store to order did not work so I purchased it elsewhere. That said, it is understandable that the stores failed but to be so wrapped up in work that you take your own life is indeed sad.

[The Jungle 1]

17. I doubt we know or understand the reasons for his actions.

This much can be said with accuracy. Mental illness is not treated in America.

[Chainfire]

34. That was my first thought as well.

Only those who have suffered from chronic depression can understand what it is like.

[Ilsa]

19. A sales associate ordered stock for me at the store.

It was a year ago, but worked out well. They were heavy-duty teaspoons and forks which looked very much like what I already owned.

Too bad the ceo did this. Maybe he had a bad medical diagnosis. But jumping out of a building could kill someone else.

[IronLionZion]

28. BBB has some strange policies

I had a gift card that they wouldn't accept in my local store but it worked online. Then the boxes they mail out are poorly packed with tape falling off. They could work on fixing some of those basic problems.

The 20% off coupons are nice though. Their house brand Artisan Kitchen Supply is good quality and should be marketed better.

Otherwise, Williams Sonoma, Sur La Tab, Amazon, Target, etc. are just easier to shop from.

[USALiberal]

46. That is what you needed to post ? Nt

[hlthe2b]

4. Damn.

Last edited Sun Sep 4, 2022, 07:02 PM - Edit history (1)

So horrible.

I think the a'hole who invested in BB&B, only to raid it and leave it in this state is a classic example of why our corporatocracy must be reined in. Of course, the fascist RW only benefit from their corruption so...

Edited to correct an iPhone typo (reigned v reined)

[reACTIONary]

12. We need to reign in the corporatocracy....

... in order to protect the corporatocracy from the corporatocracy?

[3Hotdogs]

18. BBB decline wasn't from corporate takeover and raid.

Around 2019, they began a new strategy of developing house brands and contracting for their own styles of merchandise. Then came covid. Manufacturers couldn't supply the contracted merchandise.

So...

They tried to go back to traditional name brands but the makers of those were already contracted to WallyWorld and Target.

That brought them to where they are today: Fucked.

[yardwork]

23. That sounds like it was just really bad luck, due to the timing of Covid.

[hlthe2b]

29. Not solely, but, ahem

https://www.cbsnews.com/news/bed-bath-beyond-meme-stock-ryan-cohen-jake-freeman/
MoneyWatch
Bed Bath & Beyond shares tank after billionaire Ryan Cohen dumps stake

https://nypost.com/2022/08/19/trader-outrage-as-ryan-cohen-bags-68m-selling-bed-bath-beyond-stock/
Traders outraged as Ryan Cohen bags $68M selling Bed Bath & Beyond stock

https://www.retaildive.com/news/ryan-cohen-exits-activist-stake-bed-bath-beyond/629982/
Ryan Cohen to exit activist stake in Bed Bath & Beyond

https://www.bloomberg.com/news/articles/2022-08-17/bed-bath-beyond-tumbles-after-ryan-cohen-files-to-unload-stake
Bed Bath & Beyond Stock Plunges After Ryan Cohen Files to Unload Stake



Not sure what you would call it but it is corporate raiding...

[BlackSkimmer]

45. Sigh, "rein" vs. "reign."

There’s a real difference there.

[hlthe2b]

50. You make far too much of an iphone post typo.

[BlackSkimmer]

54. I see it all too frequently here.

But yes, shame on that iPhone!

[hlthe2b]

56. YOU never make typos? Well, good on you (though I'd doubt anyone on DU believes that)

[BlackSkimmer]

57. It's ok, deep breath.

[hlthe2b]

58. I should ignore your rudeness, then. Okay.

[BlackSkimmer]

60. Oh my.

It’s gonna be ok.

[electric_blue68]

64. Well I know when I'm in a hurry to post I might make think I've corrected it -didn't and Autocorrect

swoops in with what I didn't want.


Usually I catch 'em before posting. 👍

[BlackSkimmer]

66. Me too, but the "g" in reign makes that an unlikely typo.

My phone frequently likes to screw up words like “they’re” but that’s because I use the narration feature often.

It happens.

The reign/rein thing is something I see all the time here. At least, “rain” is usually not confused. Just a bugaboo for me.

[electric_blue68]

68. Got it 👍

Ah, I don't use a narration feature so I wouldn't know

[hlthe2b]

93. If you are going to accuse me of lying, kindly have the courage to do so to me directly and not

when questioned by another poster. Your behavior is quite something and none of it positive in this exchange. That you feel the need to be so rude and condescending at someone's minor error with five posts to date--even when fully acknowledged-- tells us a lot about your own sensitivities and insecurities it would certainly appear.

[WarGamer]

76. you mean Ryan Cohen?

[AKwannabe]

5. O. M. G.

Bbb has been a powerhouse throughout my life. This dude was my age.

Goes to show that life runs a course none of us know. Just sayin.

R. I. P.

[Mike Nelson]

6. Hmm...

... this seems like a horrific way to commit suicide. Someone of his means would be capable of taking some pills and going to sleep, I would think... but, I'm no expert. RIP.

[USALiberal]

47. Quick death, no pain. What pills are easy to obtain.

[Mike Nelson]

81. I never...

... thought about getting any pills, so I don't know. I assume people overdose on pills. "Overdose" seems to be a way people die - I just assumed many of them took too many pills (meaning drugs in pill form).

... It seems like jumping out of a window is a terrifying and horrific way to die. I did hear that maybe you die of a heart attack before you hit the ground - I'm not sure if that's true, but still horrific...

[Baitball Blogger]

7. Our BB&B is great with customer service.

They bend over backwards to try to find merchandise that you're looking for.

This is very sad.

[MissMillie]

8. He must not have had a golden parachute in his contract

too soon?


You know, I always liked that store. I love pretty linens and (useful) kitchen gadgets.

[rubbersole]

25. Too soon?

Maybe, but funny!
When I first read the headline, my thought was the Russians are owed some rubles...but I'm always bumping into DUs tos.

[USALiberal]

48. Yes, too soon and terrible! Nt

[Norbert]

9. It isn't a bad store

The store has things we can't buy at other stores. We bought a bag you put clothes pins in when you hang up laundry. Unfortunately our BB&B closed about four years ago so we need to travel clear accross town to shop their stores.

[reACTIONary]

10. He wasn't visiting Moscow was he? nt

[bucolic_frolic]

14. Upon the initial crash of the stock a couple years ago, wags dubbed it Blood Bath & Beyond

[rubbersole]

27. Frangela on the Stephanie Miller Show...

...calls it "Bed Black and Beyond". But they can and are hilarious social commentators.

[cloudbase]

16. "The man was pronounced dead before leaving the scene"

That's some outstanding writing.

[Fullduplexxx]

33. That line struck me as well ... file it under no sht shelock...nt

[Renew Deal]

21. Stress and burnout are real

Add to it the emotional and psychological impacts of high-performers struggling for whatever reason and it’s a bad mix.

[yardwork]

26. It's very sad.

[IronLionZion]

22. "high inflation and a sagging economy hammer large US companies"

This isn't true. Bed, Bath, and Beyond has been closing stores for years, long before COVID or inflation. I wouldn't say our economy is sagging at all. Retail has been in trouble for years with competition from Amazon and other online sellers.

[yardwork]

24. The media are corporate-centric because they're corporate-owned.

It's discouraging.

[markbark]

30. The man was pronounced dead before leaving the scene

A dead man left the scene?
When dangling, watch your participles.

[ShazzieB]

32. Ha--I was about to comment on that!

I was like, wtf did I just read?

[EX500rider]

35. And thus started the Zombie Apocalypse nt

[Demovictory9]

37. Dailymail ,,, typical bad writing

[Doodley]

31. The company failed to aggressively respond to the move to online shopping.

[BWdem4life]

36. Dumbass.

Look at the family he left behind.

[Demovictory9]

38. Tragic

[The Jungle 1]

39. Wow that post is incredibly insensitive!

It is that kind of insensitivity that created our society that provides little mental health treatment.

What happened to demonstrating humanity.
It is very disappointing to view that post

[BWdem4life]

40. No, what he did was incredibly insensitive.

I've suffered from depression my entire adult life. Not once have I considered suicide without immediately thinking of the destruction it would leave behind and the people who love me who would be irreparably harmed.

Suicide is the most selfish act possible, and selfish people are dumbasses. He had much to live for. His action was unconscionable.

[The Jungle 1]

42. YOU don't know what the reason was this man took his life!!!!!!

Making assumptions about depression and judging your fellow man for something you do not understand and do not have the medical education or information to diagnose is what a dumb ass would do. You don't know what this man had to live for. You are making wild unsupported guesses about his life. Because you have depression he must.
My brother stuck a 357 in his mouth and took his head off. IS HE ALSO A DUMB ASS in your world???
YOU don't know the reason for my brother's action. I do, you don't. You don't know shit about his or this situation. Stop judging people and try demonstrating a little humanity.
You are way over the line, I am betting that your statements have hurt many people today. Nice job.

[electric_blue68]

61. I just found out about this situation, so reading this thread...SO Sorry about your brother

How horrific!

How ever long or short ago my condolences

[Raine]

77. I'm so sorry 😞

[USALiberal]

49. Terrible answer!!! Self delete! Nt

[Elessar Zappa]

55. Terrible.

Shame on you.

[LuckyCharms]

63. This is fucking bullshit.

Shame on you.

Don't project your particular type of depression onto others.

Everyone is an individual.

Suicide is typically, but not always, an escape from pain (mental pain).

Some people's pain is worse than others.

There are people in here that your comments will affect.

If I could speak more in depth about this without breaking site rules, I'd be giving you a fucking earful.

Never has a post on the internet infuriated me as much as yours has. Congratulations.

[Raine]

70. I thought liberals were supposedly the side that was compassionate

so much for that myth!

[mathematic]

41. FYI: There's a financial stock cult surrounding Bed Bath & Beyond

Frankly, the only reason this is in the news is that Bed Bath & Beyond is a "meme stock", like Gamestop.

The relationship between Gamestock (GME) and Bed Bath & Beyond (BBBY) is that the chairman of GME, corporate raider Ryan Cohen invested in BBBY back in march, demanded seats on the board (he got 3) and called for chopping up BBBY and selling off its most valuable asset, the Buy Buy Baby subsidiary.

This was all going south and by July, Cohen was down 75% on his investment. Then, by the shear luck of the internet, BBBY caught fire again among retail traders. Cohen ended up selling for a profit at the height of the mania in mid-August. Arnal ALSO sold a portion of his shares at the same time. The news for Bed Bath & Beyond has only been worse since then, as they announced a major restructuring with massive layoffs. It remains to be seen how long or if Bed Bath & Beyond can stay in business.

Perhaps relevant to the audience at DU is that this meme stock cult views Ryan Cohen as their figurehead and Ryan Cohen is kinda like a bargain bin Elon Musk. He's a Twitter shitposter, anti-vax, jan 6th sympathizer. He's grifting his cult to the max but they'll defend him as if their financial lives depend on it. Potential for your usual cult spin-offs and crossovers.

[electric_blue68]

65. Ryan C -esides being a miserable SOB corporate raider, he's Even Worse.

[MerryBlooms]

95. Nothing about the internet meme is "luck".

Companies and individuals, pay meme producers and influencers to rehab their reputations, and pump stock. This has been going on for years now. Huge money to be made by flooding the main internet pages, including Google, to make sure nothing but positive news (many times fictional) hit the top of every search, FB ad, etc...

It's sad that this man saw no other way out of his woes, both legal and soon to be financial. I am sorry he left behind a beautiful family, who will now face the accounting of his actions, on their own. There will be lawsuits... And, much scrutiny.

No idea if he's at peace, but it will be a long time for his family to find peace. I wish he hadn't jumped. 😥

[LuckyCharms]

96. I'd be interested in reading any links you can provide

which discuss Cohen's vax philosophy and his opinions about Jan 6.

Thanks in advance.

[mathematic]

98. Straight from his twitter feed

Here he shares a classic anti-vax meme and then uses the typical "I support both sides" when a public figure doesn't want to be explicitly branded as anti-vax. Bonus points here in that we have an example of the cult I was talking about since he's responding to somebody that says "RC is my idol".




The conversation continues and somebody asks offhand if he supports the jan 6 insurrectionists. Cohen responds with "Power to the players", Gamestop's motto.

Link to tweet

The guy's a grade A scumbag.

[LuckyCharms]

101. Thank you. n/t

[IcyPeas]

43. the Jenga Tower:

Jumping 18 stories is a pretty sure way to die. Sad, he was very young.

[LAS14]

59. What are the chances he might have hit and killed someone? nt

[IcyPeas]

62. he very well could've. it was 12:30 pm according to the story

Calls regarding the jump at 56 Leonard Street near Church Street came in at around 12:30pm on Friday, according to a spokeswoman for the NYPD

[electric_blue68]

67. I Just Looked for A Photo of this building b4 I got to your post right here... Woah no wonder....

they gave it THAT nickname!

[scipan]

44. Here's a better news source and probable reason:

Aug. 23, the company, Arnal and major shareholder Ryan Cohen were sued over accusations of artificially inflating the firm's stock price in a "pump and dump" scheme, with the lawsuit alleging Arnal sold off his shares at a higher price after the scheme.

The class action lawsuit listed Arnal as one of the defendants and was brought by a group of shareholders who claimed they lost around $1.2 billion.

https://www.reuters.com/business/bed-bath-beyond-cfo-plunges-death-new-yorks-jenga-tower-reports-2022-09-04/

I would guess based on the timing, that this has something to do with it.

[Meowmee]

51. I thought there had to be more to this

A tragic event all round. I read that it was someone else, the ceo who did this, I can’t remember now.

[electric_blue68]

71. Oh, boy. (read it) And now I know what a meme stock is

[halobeam]

52. First thing that struck me is he once worked for Avon

which had massive layoffs, many years back, maybe when he started working? Timing could be right. The point is, Avons layoffs were so huge, they hired psychologists on the scene to help the employees. Many just months, some weeks away from full retirement.

Some real mind-blowing stuff. Maybe this guy was scarred from way back. who knows.

Just horrifically sad, all around.

[electric_blue68]

69. I think I remember that Avon layoff. Terrible

[BlackSkimmer]

53. What a way to go.

I remember reading a study done of “unsuccessful” jumpers, and every single one said they regretted it the second they launched.

I can’t imagine the horror.

[electric_blue68]

74. Yeah, I've read that. And not too far back either

[BlackSkimmer]

75. I can't remember when I read it, but you're right, it's frequently quoted.

Horrifying to even imagine.

I can’t even get close to the edge of a moderately tall cliff without my knees going weak.

[electric_blue68]

82. I understand! What would you consider close... I guess I'd start feeling uncomfortable at ?3 ft...

or so


I'm trying to remember but I think that's about when I started to feel a bit not quite "twitchy" but not at ease, when I got to about 3ft of the 🧡 glorious Grand Canyon's South Rim 32? yes ago

[BlackSkimmer]

83. Ha! That's about when I was there.

And nope, not even 3 feet. Nope, nope, and nope.

[electric_blue68]

86. Aw {hug}...

[electric_blue68]

87. Easier for me to say it was 1979 instead of counting back!

I hope you DID enjoy it from your safe distance!

[BlackSkimmer]

88. Hiked down and back up again.

God, those glass walkways they have everywhere now! No way!

[electric_blue68]

91. Oh my God I seriously salute your stamina and courage! What...

an all enveloping experience!

Deeply sublime!

[electric_blue68]

92. Wait now I'm confused but it could be I misread or that it's a different kind of kinetic...

experience...

You can't be close to a cliff edge w 3 ft being waaaaay too close

Yet you hiked down and back up the GC?

And what are these glass walls in this case (GC) that you're talking about?

[JanMichael]

72. Didn't Japan have a history of discredited executives offing themselves?

Ken Lay (got lucky and died naturally) and that asshole that tanked Sears shoulda.

[electric_blue68]

73. I'm almost positive, yes

[BlackSkimmer]

85. Well, 1929 was pretty bad for US executives too.

Not a good year for them.

[electric_blue68]

94. No kidding! I haven't read about 1929 in a long time I should reread some about it...

[electric_blue68]

79. Well, strength to his family, friends etc And the people right in that area! Geeebz ...

Woah...

I've known that area for a looong time, though haven't been there certainly since cv19, and even before not as much as used to but yeah, wow.

well RIP to him but -seems like- like he was not doing something legal(?), still... yikes

[prodigitalson]

89. beyond nt

[Emile]

99. My wife's 94 year old right-wing aunt blamed Joe Biden's economy

for this guy jumping to his death. Then she went on and on about Biden allowing all those Mexicans to cross the border. Unfreakin believable. . .

[Demovictory9]

100. News says he was being sued for "pump and dump" scheme.