Let's be upfront about this: If P in the west has had no idea if the company has been confabulating figures at his store, what might be the odds that all the figures BBBY gave them are pure fiction, especially after last Friday? How will this affect the loan status if the sources reckon that BBBY is not being honest with them? We had some absolutely ridiculous thrown about online about the worth of BBB: to some people it was "worth more than the rest of the company", which is ludicrous if you only think about it already being part of the company's worth. Then you get C saying that it is worth X amount of dollars with possible falsified numbers behind him? I would not loan $5 to BBBY. Time will tell if the guarantors of the loan feel the same way, but I can tell you, Morgan Stanley will go after its money.
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Hello, my name is Lillian Rizzo and I'm a reporter at CNBC. My colleague and I are working on a story, and hoping to hear from former and current employees about their perspective on the state of the business. I noticed your post and thought you'd be a good person to chat with. If you'd be up for talking on background and not for attribution (we won't use your name w/out your permission) please let me know! I can be reached at lillian.rizzo@nbcuni.com
Give em the golden chute. As long as it's solid gold and they jump?
SG was on the board throughout all the horrendous decisions. She’s as responsible as the rest and we certainly shouldn’t expect much now. If the new financing is pulled we should expect bankruptcy.
But hey it’s good to know the new interim CFO is on the job with a sweet 200k pay raise, increased bonus and laughably a better golden parachute.
What a joke.
It never ends.
Hmmmmmm over inflating prices of stock to state that its work more than it actually was? Sounds like a play right out of the former presidents playbook
Sixth Street Partners who gave ( or maybe not) the loan, will take a magnifying glass to the financials! Falsifying profits? What a hot mess!
I think they have to clear the c suite totally. SG is the only one right now doing and saying the right thing.
They need to look at the boys club who was embezzling the cash. Look at renovations and contractors kick backs. Too much money gone to quick . Sec investigations to happen soon after the big plunge. Maybe something good will come out of this.