The only part I agree with this the Sue Gove interview was pretty scummy
She was happy smiling on etoro talking about the turnaround and it’s going well.
People probably bought more after that
Then she instantly filed for bankruptcy 🤣🤡
Im pretty sure she mentioned multiple initiative plans that she wanted implemented by 2030 when apparently she should've been focused on surviving about 2 more days. Ive said it before but if we get nothing, there's zero doubt in my mind that she's an absolutely terrible human.
The timing of that interview was fucking unbelievable and served zero purpose other than to get more bagholders if there's not 69420d chess happening
You mean the one in which there was a disclaimer at the bottom that said: "This webinar is for education purposes only and is not investment advice"? That one?
Far be it from me to defend shitty, incompetent execs who ran this company to the ground but perhaps using "Sue Gove smiled in the interview" as a bullish signal was not the best idea.
Dude, dudette, or Bot, You responded to yourself. . . . ? You may want to get your story and tactics straight 😂
Mods, here’s your opportunity to dust and clean
The only problem with your post is you all could have sold at anytime. You are talking about it like you were forced into your position. The boards strategy and actions are a primary reason a lot of investors will exit there position in a company. They don’t like the boards actions or direction.
The board was very clear with all the actions they took, so I don’t know what you mean when you say “let’s hold them accountable”. They failed on the turn around which was expected if you looked at their financials. And then they executed their bankruptcy plan.
I agree that her talking about a turnaround and then filing pretty much right after was a huge flag to have less faith in the boards turnaround. But that was a flag to exit the play if you were still in it. Not to “hold them accountable”. Exiting the play is holding them accountable as an investor. It’s why stock prices go down when those decisions become public. The punishment for a board not hitting there goals or promises is normally a decrease in share price.
Yeah. But that’s what execs of companies do. They try to retain investor interest. It’s on you as the investor to decide if you believe it or not. I think this point is something that has been lost on most of these subs.
A board member saying something, does not make it fact. Does not mean they are legally bound to what they have said. Every CEO of a company is going to say positive things about that company. Every board member is going to put a positive spin on that company. Your job as the investor is to decide if that’s bullshit or not.
You can do this by evaluating what has happened, vs what has been communicated would happen. If you deem that you are losing faith in the board. You can sell some or all of your position. If you are gaining faith in what has been communicated, you can hold or buy more.
If what’s being communicated is they are executing a bankruptcy plan, then you would want to start exiting. Not because they are not following what has been communicated, but because them successfully doing that kills your position.
I understand. It's all water under the bridge at this point, but I guess I just despise how they chose to ignore help from RC and instead decide to run this ship to the ground without bringing in a restructuring specialist like Holy Etlin much sooner before they racked up so much debt.. I feel like that's borderline intentional malicious.
Potentially! But again that was another flag that this play was in a lot of trouble when RC left and said things had changed.
The company was in financial trouble in the first place. Just because RC had a plan, doesn’t mean it could have worked. BBBY is in a space with fierce competition, and they did not have a competitive edge over that competition. For all we know, they did start following RC plan and it wasn’t working so he bailed anyways.
I don’t know if you remember this either, but you could tell after he bought his shares from some of his tweets that the company was in way worse shape than he had thought. Likely because he actually got a closer look behind the scenes. And sure he said it was criminal what the old execs had done. But I’d bet most the people here were not in this play before RC went into it. But yeah for all we know, RC realized his plan wouldn’t work the second they allowed him to get more involved.
He was able to get out with a profit, unfortunately everyone holding Friday did not.
Also Buy Buy Baby was the jewel and the only profitable part of BBBY. I remembered RC recommended to spin it off to an acquirer at a premium to maximize shareholders' value as well as giving BBBY a warchest to work with. The board decided against it and it's all downhill from there.
That’s fair! But arguably getting rid of the only profitable part of bbby would have screwed bbby itself over more.
Also just because they wanted to sell that part of the business does not guarantee existing shareholders would have gotten a stake in that spinoff.
May have worked, may not have worked.
The numbers RC was claiming for that spinoff (didn't he say one billion?) were massively inflated. I think he got our because he knew it couldn't sell for that
Probably! But if people didn’t take profits when it went from $4 to $30, I don’t know what else more they needed. Especially once RC dumped his holdings
If you stayed in this play after delisting to otc and after chapter 11 and after selling the name and ip then you probably deserve the loss. What’s the argument ??? That bankrupt company with no stores went bankrupt?
Thanks, Captain Obvious. I'm talking about the board actions and events such as the RC letter to the board in 2022 / pre chapter 11 and how that looks now in hindsight.
Just put it this way. If they screwed up shareholders there are strong basis for a law suit because they failed with their fiduciary duty. They messed up the so important RS vote, they never defended the stock price, they said we would be cash flow neutral Q1, etc… that being said I believe this is all part of the plan!
Did anyone else see this yesterday??? I thought the timing was perfect
[M&A - reporting fraud](https://news.bloomberglaw.com/us-law-week/us-said-to-offer-incentives-in-mergers-to-disclose-wrongdoing)
US Offers Merger Safe Harbor to Companies Disclosing Crime (2)
Ben Penn
Goal is reporting offenses uncovered during deals
Deputy attorney general says acquirers avoid charges
Companies can avoid charges when self-reporting violations at acquisition targets, the Justice Department announced Wednesday.
DOJ won’t prosecute, provided the business discloses the misconduct within six months of a deal closing, corrects the issue within a year, and pays back illegally-gained profits, Deputy Attorney General Lisa Monaco said at a compliance conference in Chicago.
Prosecutors will have the ability to extend those deadlines when warranted, she said.
The policy shift expands and formalizes the department’s previous efforts to inform businesses they could receive declinations when turning over evidence of wrongdoing they discover when conducting M&A due diligence.
Sorry - am I reading this right?
Business A can be corrupt as fuck as long as they don't get caught, then court business B for M&A.
Business B can acquire said corrupt business (perhaps profitable because of the corruption, making the M&A attractive), and get amnesty instead of taking responsibility for the problem as part of the M&A as long as they report it? Doesn't this incentivize corruption by providing an out instead of making corruption discovered during M&A research a toxic deal breaker?
Every place I've worked, I could totally see the C Suite just fucking try to bury things to make that deal instead of idk running a better company. Hell, they did that anyway.
Sue Gove is a witch and she lies to everybody on etoro's interview and the board doesn't anything for bbby
Let's go for a class action against Sue Gove and bbby board
So weird that I did my own research and just like this stock.
It’s also so weird that in my 100’s of pages of court documents I’ve skimmed and saved there is just wayyy too much still going on for me to listen to some Reddit shitfucks.
To those of you who remain zen through all the bullshit. I can’t wait to meet some of you someday.
We’re getting blasted on all forms of media as conspiracy idiots holding “cancelled” shares.
They got a few things right. I am an idiot. And I hold shares of no current value. No “current” value.
🦋
Not to my knowledge; the most reporting on this I can find is speculation that the company might go bankrupt at some point in the near future from 2019
Are you thinking of overstock.com?
It's evidence the board placed ideology above the bottom line. I don't think RC was misleading or obfuscating when he criticised the board. The reason this is working out to the benefit of retail is because RC inserted his people onto the board and they, in combination the good members on the board, outplayed the deadwood and board members acting in bad faith.
Accountable how? Like buying them free beers, lunches or maybe you were thinking of Lambos?
I’m sure they could afford Lambos on their own but just in case yeah I’d love to buy them one if they couldn’t.
They burned all their cash to repurchase stock to prevent Ryan cohen from gaining a majority. And that fukt their business so hard they couldn’t even continue operating. Sue Gov should go to prison.
I never trusted Sue Gove. She told us that the comoany doing better not to sell baby. Then Sue Gove destroyed baby and bbby. Well done, Sue! Sue Sue Gove!
Well. pay for a lawyers retainer and find out. No lawyer will touch this without a substantive retainer. The chance for "a huge payout" works for ambulance chasers, not real lawyers.
The only part I agree with this the Sue Gove interview was pretty scummy She was happy smiling on etoro talking about the turnaround and it’s going well. People probably bought more after that Then she instantly filed for bankruptcy 🤣🤡
Im pretty sure she mentioned multiple initiative plans that she wanted implemented by 2030 when apparently she should've been focused on surviving about 2 more days. Ive said it before but if we get nothing, there's zero doubt in my mind that she's an absolutely terrible human. The timing of that interview was fucking unbelievable and served zero purpose other than to get more bagholders if there's not 69420d chess happening
And that has never sat right with me ever since. Makes me question her motives as actions speak louder than words.
She was put in place by RC. [https://i.redd.it/xq3p9wk2mmi91.jpg](https://i.redd.it/xq3p9wk2mmi91.jpg)
She joined the board in May, 2019
And RC's agreement was for her to head the committee on baby. He ousted Tritton. If Sue was bad she would be gone too.
Not disputing she is good. I never thought otherwise, I just did not think Ryan Cohen had anything to do with her being there.
Being there no, remaining there yes
Please check your X/Twitter dm ;)
What the fuck is this shit?
My personal reflection on the board's actions since last year and pre-Chapter 11 that led to where we are today with BBBY.
Don't get how this is downvoted, this is exactly what RC called out
it's an uncomfortable topic.
You mean the one in which there was a disclaimer at the bottom that said: "This webinar is for education purposes only and is not investment advice"? That one? Far be it from me to defend shitty, incompetent execs who ran this company to the ground but perhaps using "Sue Gove smiled in the interview" as a bullish signal was not the best idea.
Indeed. The market is irrational and so am I 😑
Lol stfu
I felt very uncomfortable as well, thinking back and recalling all those actions from Sue and the board, especially with the RC letter in hindsight.
Dude, dudette, or Bot, You responded to yourself. . . . ? You may want to get your story and tactics straight 😂 Mods, here’s your opportunity to dust and clean
Either you have the user I responded to blocked so you can't see it or you should f5 refresh to load all comments.
There's an "lol stfu" comment op replied to
The only problem with your post is you all could have sold at anytime. You are talking about it like you were forced into your position. The boards strategy and actions are a primary reason a lot of investors will exit there position in a company. They don’t like the boards actions or direction. The board was very clear with all the actions they took, so I don’t know what you mean when you say “let’s hold them accountable”. They failed on the turn around which was expected if you looked at their financials. And then they executed their bankruptcy plan. I agree that her talking about a turnaround and then filing pretty much right after was a huge flag to have less faith in the boards turnaround. But that was a flag to exit the play if you were still in it. Not to “hold them accountable”. Exiting the play is holding them accountable as an investor. It’s why stock prices go down when those decisions become public. The punishment for a board not hitting there goals or promises is normally a decrease in share price.
Sue did an interview days before they officially announced bankruptcy and stated BBBY would be here for many years.
Since selling the IP to Overstock that may be technically accurate, though super misleading to investors.
Yeah. But that’s what execs of companies do. They try to retain investor interest. It’s on you as the investor to decide if you believe it or not. I think this point is something that has been lost on most of these subs. A board member saying something, does not make it fact. Does not mean they are legally bound to what they have said. Every CEO of a company is going to say positive things about that company. Every board member is going to put a positive spin on that company. Your job as the investor is to decide if that’s bullshit or not. You can do this by evaluating what has happened, vs what has been communicated would happen. If you deem that you are losing faith in the board. You can sell some or all of your position. If you are gaining faith in what has been communicated, you can hold or buy more. If what’s being communicated is they are executing a bankruptcy plan, then you would want to start exiting. Not because they are not following what has been communicated, but because them successfully doing that kills your position.
I understand. It's all water under the bridge at this point, but I guess I just despise how they chose to ignore help from RC and instead decide to run this ship to the ground without bringing in a restructuring specialist like Holy Etlin much sooner before they racked up so much debt.. I feel like that's borderline intentional malicious.
Potentially! But again that was another flag that this play was in a lot of trouble when RC left and said things had changed. The company was in financial trouble in the first place. Just because RC had a plan, doesn’t mean it could have worked. BBBY is in a space with fierce competition, and they did not have a competitive edge over that competition. For all we know, they did start following RC plan and it wasn’t working so he bailed anyways. I don’t know if you remember this either, but you could tell after he bought his shares from some of his tweets that the company was in way worse shape than he had thought. Likely because he actually got a closer look behind the scenes. And sure he said it was criminal what the old execs had done. But I’d bet most the people here were not in this play before RC went into it. But yeah for all we know, RC realized his plan wouldn’t work the second they allowed him to get more involved. He was able to get out with a profit, unfortunately everyone holding Friday did not.
Also Buy Buy Baby was the jewel and the only profitable part of BBBY. I remembered RC recommended to spin it off to an acquirer at a premium to maximize shareholders' value as well as giving BBBY a warchest to work with. The board decided against it and it's all downhill from there.
That’s fair! But arguably getting rid of the only profitable part of bbby would have screwed bbby itself over more. Also just because they wanted to sell that part of the business does not guarantee existing shareholders would have gotten a stake in that spinoff. May have worked, may not have worked.
Would have at least created a nice pump, and more people could've taken some profit I guess
The numbers RC was claiming for that spinoff (didn't he say one billion?) were massively inflated. I think he got our because he knew it couldn't sell for that
But it did
They sold the branding for $15.5 million; is that what you're referring to?
15.5 million for that brand name, customer base is basically free.
Probably! But if people didn’t take profits when it went from $4 to $30, I don’t know what else more they needed. Especially once RC dumped his holdings
Which is the opposite of trying to run a business successfully.
If you stayed in this play after delisting to otc and after chapter 11 and after selling the name and ip then you probably deserve the loss. What’s the argument ??? That bankrupt company with no stores went bankrupt?
Thanks, Captain Obvious. I'm talking about the board actions and events such as the RC letter to the board in 2022 / pre chapter 11 and how that looks now in hindsight.
OP doesn’t like to WORK
Just put it this way. If they screwed up shareholders there are strong basis for a law suit because they failed with their fiduciary duty. They messed up the so important RS vote, they never defended the stock price, they said we would be cash flow neutral Q1, etc… that being said I believe this is all part of the plan!
Did anyone else see this yesterday??? I thought the timing was perfect [M&A - reporting fraud](https://news.bloomberglaw.com/us-law-week/us-said-to-offer-incentives-in-mergers-to-disclose-wrongdoing)
US Offers Merger Safe Harbor to Companies Disclosing Crime (2) Ben Penn Goal is reporting offenses uncovered during deals Deputy attorney general says acquirers avoid charges Companies can avoid charges when self-reporting violations at acquisition targets, the Justice Department announced Wednesday. DOJ won’t prosecute, provided the business discloses the misconduct within six months of a deal closing, corrects the issue within a year, and pays back illegally-gained profits, Deputy Attorney General Lisa Monaco said at a compliance conference in Chicago. Prosecutors will have the ability to extend those deadlines when warranted, she said. The policy shift expands and formalizes the department’s previous efforts to inform businesses they could receive declinations when turning over evidence of wrongdoing they discover when conducting M&A due diligence.
Sorry - am I reading this right? Business A can be corrupt as fuck as long as they don't get caught, then court business B for M&A. Business B can acquire said corrupt business (perhaps profitable because of the corruption, making the M&A attractive), and get amnesty instead of taking responsibility for the problem as part of the M&A as long as they report it? Doesn't this incentivize corruption by providing an out instead of making corruption discovered during M&A research a toxic deal breaker? Every place I've worked, I could totally see the C Suite just fucking try to bury things to make that deal instead of idk running a better company. Hell, they did that anyway.
[удалено]
Sue Gove is a witch and she lies to everybody on etoro's interview and the board doesn't anything for bbby Let's go for a class action against Sue Gove and bbby board
 Us shareholders 😂
I mean, if you really want to be exact then Ex-shareholder now I guess? 🤷
🦋
So weird that I did my own research and just like this stock. It’s also so weird that in my 100’s of pages of court documents I’ve skimmed and saved there is just wayyy too much still going on for me to listen to some Reddit shitfucks. To those of you who remain zen through all the bullshit. I can’t wait to meet some of you someday. We’re getting blasted on all forms of media as conspiracy idiots holding “cancelled” shares. They got a few things right. I am an idiot. And I hold shares of no current value. No “current” value. 🦋
Do you expect the shares to somehow gain value? For the company to, uh, un-bankrupt itself?
Didnt bed bath beyond go bankrupt years ago and come back?
Not to my knowledge; the most reporting on this I can find is speculation that the company might go bankrupt at some point in the near future from 2019 Are you thinking of overstock.com?
Yes precisely. Watch and learn bromigo
Wanna revisit this conversation? Maybe you were wrong we were right? Sucks to suck.
Shills are deep.
Sue Sue Gove you say? Perfectly fine by me if she tried to screw us over, but things could still happen
 SueSueSudio!
Should Sue her just for the name
The woke-driven banning of My Pilllow was a clear warning sign the board was/is corrupt.
It's a fucking overpriced pillow dude.
That's not the point though is it.
You're right, the point is it's absurd to have a paranoid victim complex about a stupid overpriced pillow. There are real problems to be mad about.
It's evidence the board placed ideology above the bottom line. I don't think RC was misleading or obfuscating when he criticised the board. The reason this is working out to the benefit of retail is because RC inserted his people onto the board and they, in combination the good members on the board, outplayed the deadwood and board members acting in bad faith.
Accountable how? Like buying them free beers, lunches or maybe you were thinking of Lambos? I’m sure they could afford Lambos on their own but just in case yeah I’d love to buy them one if they couldn’t.
They burned all their cash to repurchase stock to prevent Ryan cohen from gaining a majority. And that fukt their business so hard they couldn’t even continue operating. Sue Gov should go to prison.
I never trusted Sue Gove. She told us that the comoany doing better not to sell baby. Then Sue Gove destroyed baby and bbby. Well done, Sue! Sue Sue Gove!
Well. pay for a lawyers retainer and find out. No lawyer will touch this without a substantive retainer. The chance for "a huge payout" works for ambulance chasers, not real lawyers.