General Discussion

NullTuples

(6,017 posts) Tue Apr 25, 2023, 05:54 PM Apr 2023

202

"It wasn't inflation. It wasn't labor cost. It is 100% corporate greed." [View all]

From Mastodon:

Qasim Rashid, Esq.
@QasimRashid@mastodon.social

Bed Bath & Beyond has filed for bankruptcy shortly after spending $1B in stock buybacks & cash payments to shareholders. Employees of 20 years got 0 notice & $0 severance.

It wasn't inflation. It wasn't labor cost. It is 100% corporate greed.

Tax billionaires. Unionize workers. Protect our economy.

87 replies

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Highlight:

"It wasn't inflation. It wasn't labor cost. It is 100% corporate greed." [View all] NullTuples Apr 2023 OP

This is why the youth of this country Tree Lady Apr 2023 #1

The youth of this country aren't refusing to work. Mariana Apr 2023 #17

Demographics Metaphorical Apr 2023 #35

And the baby bust was just exacerbated by the pandemic. Mariana Apr 2023 #37

I think they meant to say refusing to work for bad low-quality jobs ck4829 Apr 2023 #50

Yeah, here in TN there are tons of vacant jobs Farmer-Rick Apr 2023 #60

There really is a labor shortage. Mariana Apr 2023 #67

I really want to believe you Farmer-Rick Apr 2023 #73

The unemployment rate absolutely reflects this. Mariana Apr 2023 #76

Well if there is a labor shortage wouldn't the unemployment rate Farmer-Rick Apr 2023 #79

The unemployment rate can never be near zero Mariana Apr 2023 #80

I don't know any who are refusing to work Warpy Apr 2023 #27

CEO says many of his remote workers didn't open their laptops for a month, Hestia Apr 2023 #69

Sounds more like he needs to revamp his HR department Warpy Apr 2023 #70

He's either lying or he's utterly incompetent. Mariana Apr 2023 #82

If the remote employees aren't doing the work, why haven't they been fired? Mariana Apr 2023 #81

New and interesting ways to wreck a business for fun and profit gratuitous Apr 2023 #2

Now they buy sports stadiums and reap even more profits MagickMuffin Apr 2023 #4

Distracted from what? former9thward Apr 2023 #7

And for the large percentage of people who don't give-a-shit about pro/paid sports? erronis Apr 2023 #18

I don't know what the "large percentage" is. former9thward Apr 2023 #20

non sequitur Celerity Apr 2023 #26

non sequitur for you. former9thward Apr 2023 #31

Agree. Got you on anon sequitur. Nt Bobstandard Apr 2023 #34

Completely disagree, major US professional sports teams are not state-owned, unlike many of the Celerity Apr 2023 #41

No inthewind21 Apr 2023 #56

Dislike of sports? Lol. I never said I disliked sports. You are also projecting, like the other Celerity Apr 2023 #66

I agree, same with the Olympics. Brenda Apr 2023 #72

Really inthewind21 Apr 2023 #55

Where did I ever say that? You are really grasping at straws. Celerity Apr 2023 #65

Yup no such thing as employer loyalty anymore onetexan Apr 2023 #30

Since the 80's this has been the private equity company model of business NullTuples Apr 2023 #53

" Remember when businesses were very conscious of being good corporate citizens" TxGuitar Apr 2023 #61

I don't have a source but I remember hearing when Hostess bakery shut down, the owners decided LT Barclay Apr 2023 #63

Basically. NotVeryImportant Apr 2023 #3

As a frequent customer, I'd say it was mismanagement. spooky3 Apr 2023 #5

I thought the disparate product offerings to be part of its charm. Xavier Breath Apr 2023 #6

:-) there apparently weren't enough of us. Nt spooky3 Apr 2023 #8

I sure will miss getting those coupons in the mail. Xavier Breath Apr 2023 #9

I have a whole trunk full in my car. :-) spooky3 Apr 2023 #10

I thought those coupons sucked SouthernDem4ever Apr 2023 #43

I blame it on the online trend onetexan Apr 2023 #32

I'm very much an anachronism when it comes to online shopping. Xavier Breath Apr 2023 #38

BBB has/had an online store spooky3 Apr 2023 #42

In the last few years, I couldn't get what I wanted there. LisaM Apr 2023 #58

+1 spooky3 Apr 2023 #62

I used to love to go there, before the "remodel." colorado_ufo Apr 2023 #11

Yes, they just stopped having good merchandise. LisaM Apr 2023 #64

BB & B always seemed to be that tier of stores where they sell things japple Apr 2023 #12

FYI Tuesday Morning started shutting down in Feb of this year. NullTuples Apr 2023 #28

Who? brooklynite Apr 2023 #13

Bed Bath & Beyond Inc. Advances $1 Billion Three-year Share Repurchase Program Within Fiscal 2021 progressoid Apr 2023 #40

Sure sounds like a greedy money grab SouthernDem4ever Apr 2023 #44

Walk me through this Zeitghost Apr 2023 #59

So the execs didn't own any stock? SouthernDem4ever Apr 2023 #75

The company didn't buy stock from the execs Zeitghost Apr 2023 #77

So the company didn't give any stocks as compensation? SouthernDem4ever Apr 2023 #78

What does that have to do with a strategic buyback program? Zeitghost Apr 2023 #83

Forget it. SouthernDem4ever Apr 2023 #84

Kinda figured it would end like that Zeitghost Apr 2023 #85

Yes, you win lol SouthernDem4ever Apr 2023 #86

Corporate gobblygook pfitz59 Apr 2023 #54

If BB & B was unionized and been taxed more, they wouldn't have gone out of business? MichMan Apr 2023 #14

wow, STEEEEEEEEEEEEEEERIKE!👍best 3-way ever, and I'm pretty sure it's a beer frame🥳🎉 bringthePaine Apr 2023 #15

The righties justgamma Apr 2023 #16

Wow, haha ck4829 Apr 2023 #49

Can't believe no one else raised the real reason: Amazon erronis Apr 2023 #19

And that is why I almost never buy from Amazon wackadoo wabbit Apr 2023 #22

Never never. They are to anti-union for me to ever buy from them Oppaloopa Apr 2023 #52

Bingo. But BB&B is halfway to Amazon compared to supporting local businesses. mjvpi Apr 2023 #25

Wish I could get back into my Mastodon account. AllyCat Apr 2023 #21

You could sign up on a different instance/server? NullTuples Apr 2023 #29

Thank you. I'll try that. AllyCat Apr 2023 #39

Methinks the "Well Regulated Militia" is picking the wrong targets. NBachers Apr 2023 #23

Indeed. The "well regulated militia" wouldn't recognize tyranny if it was stomping on their throats ck4829 Apr 2023 #48

Yes. BeckyDem Apr 2023 #24

Thanks for that info. That's the Mitt Romney/VC model - strip the company of assets and erronis Apr 2023 #33

They were going down Cosmocat Apr 2023 #51

Are they closing all stores now then? Meowmee Apr 2023 #36

They are closing them very quickly - half within a month or two. NullTuples Apr 2023 #74

hear , hear . been saying this for a while . AllaN01Bear Apr 2023 #45

vulture capitalizem at work . AllaN01Bear Apr 2023 #46

K&R ck4829 Apr 2023 #47

Agree, it was a fun store to browse, not so much to buy ismnotwasm Apr 2023 #57

Yep republianmushroom Apr 2023 #68

God, guns, greed, gay bashing and gouging.. Permanut Apr 2023 #71

Also time to start arresting some white collar criminals! Initech Apr 2023 #87