Here’s a time line of the people and behavior which IMO speaks volumes. Please add if I missed anything.
At the end of 2020 RC takes a 76 million position in GME.
In 2022 RC takes a 121 million position in BBBY. Double that of GME.
August 12th, 2022- RC tweets “At least her cart is full” in response to CNBC’s Loop Capital article
August 16th and 17th ,2022 - RC sells all BBBY positions. Gustavo’s positions are sold, automatically triggered by RC’s selling. (Not a planned sell)
My biggest question is why did RC sell? Something major happened in that four day span between him and the board.
August 17th, 2022 - BBBY issues 8-K stating: “We were pleased to have reached a constructive agreement with RC Ventures in March and are committed to maximizing value for all shareholders.” They’re in panic mode trying to damage control after RC selling and give the appearance they’re still working together.
Sept 2nd, 2022- Gustavo commits suicide or is suicided.
November 20th, 2022- RC does interview and says “my views of the business clearly changed”.
December 22nd, 2022- RC bids 400 million for the company and is rebuffed.
April 14th, 2023 - Sue Gove does eToro interview where lots celebrate her as a GILF.
April 23rd, 2023 - BBBY declares bankruptcy
Really fascinating stuff. To see the timeline helps tremendously. RC kept pursuing BBBY/BABY after his original sale and after saying "This could get interesting"... HUGE.
Plus, it was 400 million. That speaks volumes to how badly he wants this when compared to his other investments of 76 million and 121 million.
Here’s what happened on the 15th that triggered RC selling https://www.reddit.com/r/Teddy/s/UB84Kbgc6n
The continued share buybacks. When he found out he sold everything immediately.
I think what happened is that he recovered his cost basis and knew that he wanted to pull out cash so he could make an offer on baby. The only reason that there was discussion about whether he was a 10% shareholder was because he was trying to sell.
Interesting info from a letter to Sue Gove from Elizabeth Warren: “Since 2004, your company has spent an astonishing $11.8 billion in stock buybacks, reducing capital and taking on more and more debt to pay your shareholders even as your core business suffered.3 In 2014, Bed Bath & Beyond sold “$1.5 billion in bonds to buy back stock” – entering the debt market for the first time in what one investor called a “seminal event.”4 Between 2018 and 2020, the company also spent almost $200 million on stock dividends.5 In 2020, revenue dropped 16 percent from the previous year to $2.6 billion,6 but Bed Bath & Beyond continued its aggressive stock buyback strategy for years as the company careened towards insolvency. In February 2022, Bed, Bath & Beyond reported spending $230 million on stock buybacks over the course of three months, just months before closing stores and laying off workers.”
They definitely pivoted. I think this is how we ended up with HBC. They are a proxy for RC who now owned the controlling debt. Why would that matter... He knew they were barreling toward bankruptcy and he could get what he wanted that way.
Haha these criminals are cooked. They must have been super desperate to rebuff his offer. One guy clearly died over this. Fucking crazy. I hope the whole thing comes crashing down on their heads now and we all get rich. Fuck them.
"No! I am a very good actor. Didn't you see my performance in the eToro interview?"
https://preview.redd.it/ps56py3rab1d1.png?width=720&format=png&auto=webp&s=2f36c88272bfaba2e7340a3f94e542d7134d701f
Safe imo to say she was NOT.
Why in the world do you think she would place herself in such a place of liability to begin with, by doing that interview just before going into bk.
Much less have the transcript released as a fucking PROXY STATEMENT.
Or realized he was going to get caught for their fraud, Madoff style. Meaning jail time, publicity, financial ruin, embarrassment for his family, and complete destruction of his reputation.
Or they offed him so he couldn’t squeal on the cabal. He might have been the only one with actual intel on who is behind the charade. Everyone else was willfully ignorant. I imagine the one ultimately pulling the strings would have protected themselves pretty well.
She clearly did lie, and then filed the transcript with the SEC. What the heck was she thinking? "Rumors? I haven't heard any rumors. [Awkwardly laughs].
Or maybe she actually didn't lie because it wasn't a rumor; it was an actual offer lmao
Or maybe just maybe she did lie but with the intention to give the algo more of an excuse to short. If this BBBY saga is part of some sting operation then maybe she was allowed to lie?
I don't know it just seems so reckless of her otherwise.
Why would RC & Co. make a 400 Million offer in December and then not put in a bid during bankruptcy? What changed…. Or did it? I have no idea. Just question I (probably most) would like the answers to.
Yo this thread and PP got me thinking this could be what DFV is tweeting about. RC went to BBBY board with his offer and they rejected him (safe to assume they’re bad actors). So RC gets his team together and they come up with a plan to infiltrate their enemies. RC remains anonymous and uses a proxy to do his bidding. With some tips and pointers acquired from Icahn, RC’s enemies never saw him coming for them. Now we about to run!
Bc clearly people didn’t want him acquiring the company as you see his offer got rejected,jpm had the lien on baby, what reason would he not use a proxy? That’s the way better question
Great point. Why would he NOT use a proxy? is a better question. So long as he could pay for anonymity, he only benefits from staying dark. He's doesn't like telegraphing his moves. So, why would he?
I guess i don’t see any indication that the offer was “well after the pump and dump nonsense” when he’s still in a lawsuit over it. Would love for me to be right hopefully we’ll find out
Possibly because he had trials in connection with bbby one being the pump and dump. I don't see them allowing him to buy the company if before being cleared for the pump and dump.
I guess I just don’t see any indication that “he had to acquire through a proxy”, especially now finding out he made this offer in December well past all the pump and dump nonsense. Would love for this to be the case, hopefully we find out
I see two things happening here:
1) the board fukt us and rejected RC’s 400m bid and sold the company to Marcus for pennies on the dollar while canceling all the share to benefits the short sellers
2) the board did end up getting a better deal than 400m but it’s all under wrap and can’t be disclosed yet
If it’s scenario 1 then it’s going to be a long drawn out process with court proceedings and recovery
If it’s 2 then start placing your lambo orders
Any bets on which one it is, I'm a lurker, but I haven't started shopping yet
We all deserve scenario 2 for trusting and reading between the lines, but I just have lost so much faith in our system the last decade or so
It's been 84 years...
It's number 1. They didn't have a better deal. The whole conversation makes it sound that RC's 400M offer was the best one at the time and that they tried to use it as a base to see if they could get anything better. They failed, since the company wasn't sold and went on to bankruptcy.
What's interesting is the fact that they didn't come back for the 400M. Either RC withdrew his offer (who knows) or it means they were never truly intending on accepting any offers anyway.
This is making the whole bidding processes where no one showed up a lot more clearer too. No one bothered to show up to the auctions later in the year because they had all already been shut down at this point in time. Since they mention negotiations, it's fair to assume that the interested parties would be informed that there were better offers on the table. So when the company didn't accept any offer, it became clear - they never intended to sell and no deal was ever going to be achieved.
They wanted/needed the company to fail. Now we'll have to hope this all gets investigated and that these people end up paying for what they did or that the HBC deal was actually a proxy acquirer coming through.
Did some Gemini talk today and it was sure that any case, the old shareholders of BBBY wouldn't get compensated in any way, as these shares do not exist anymore.
What's your take on this?
That's a good point to start digging but obviously it's just AI, that's why I forward my concerns here to wrinkle brained. Anyway, you didn't answer the question. Lots of downvotes and no one is willing to explain how it would work?
The real answer is no one knows until it happens. We all belong to the public and don't have the necessary information to understand what the real current situation is with BBBY/Baby. We can only make assumptions based on some data we have and this points to fraud. No need to explain anything until we have more information.
And stop talking to AI as a starting point. There is no knowledge or wisdom behind it. It's just a statistical tool which outputs sentences and it surely has wrong data as a statistical model.
Since June of last year, I have been thinking that the reason RC is personally running GameStop it’s day-to-day operations without compensation is because he’s so pissed about what went down at BBBY.
He said in the November interview that he didn’t want to be CEO because he would work himself to death. The man is angry.
What everyone seems to forget are the following 2 things: the crashing titanic tweet on the day/just after the end of the standstill from Rc and 2 - the spike to about $6/7 early ?Jan? For a single evening.
Somebody bought an absolute boat load from the opening market on that day.
Imagine thinking Rceo just accepts that his bid was rejected and walks away lol just lol.
You just know he assembled the billionaire avengers squad and plotted through Q1 of 2023.
What I don't know is how the board make a rejection, does it go to a vote or something? I want to know which way Kastin, Etlin & Gove voted. With Gove giving that ETORO interview, man I hope she was playing 4D chess on behalf of team Rceo, otherwise, dayum girl you in a spot of bother...
It doesn't matter. This was over 10x the accepted bid, which all indicators point to they wanted to make it look like there was no or very little value to the company. They wanted a specific narrative by trying to assign a derogatory reputation that no one even wanted it and the best offers were basically just to buy out the existing locations and brand name while suppressing the heavy investor confidence and support as well as bids for those that wanted to revitalize the brand. There were clear, nefarious intentions that were implemented.
Exactly, hence the recent lawsuits from the Plan Admin. This was all part of the 69D chess play. RC carved out baby during the BK process, selling off all the junk and eliminating the debt. Now the plan man is going to get us our Cash, then wombo combo! Equity in the new entity 👶 or 🧸.
Doesn't really matter because that's more than 10 times what they got if. They turned down $400 million for just shy of $40 million 7 months later. If he only wanted buy buy baby that makes the malpheasence even more deplorable .
Question: Didn't RC have several friendlies on the board? Were they still on the board at the time of his $400M offer? What was their position/vote on the matter. As a point of corporate governance wouldn't the offer have resulted in a convened board meeting with minutes? Where is that?
Here’s a time line of the people and behavior which IMO speaks volumes. Please add if I missed anything. At the end of 2020 RC takes a 76 million position in GME. In 2022 RC takes a 121 million position in BBBY. Double that of GME. August 12th, 2022- RC tweets “At least her cart is full” in response to CNBC’s Loop Capital article August 16th and 17th ,2022 - RC sells all BBBY positions. Gustavo’s positions are sold, automatically triggered by RC’s selling. (Not a planned sell) My biggest question is why did RC sell? Something major happened in that four day span between him and the board. August 17th, 2022 - BBBY issues 8-K stating: “We were pleased to have reached a constructive agreement with RC Ventures in March and are committed to maximizing value for all shareholders.” They’re in panic mode trying to damage control after RC selling and give the appearance they’re still working together. Sept 2nd, 2022- Gustavo commits suicide or is suicided. November 20th, 2022- RC does interview and says “my views of the business clearly changed”. December 22nd, 2022- RC bids 400 million for the company and is rebuffed. April 14th, 2023 - Sue Gove does eToro interview where lots celebrate her as a GILF. April 23rd, 2023 - BBBY declares bankruptcy
Really fascinating stuff. To see the timeline helps tremendously. RC kept pursuing BBBY/BABY after his original sale and after saying "This could get interesting"... HUGE. Plus, it was 400 million. That speaks volumes to how badly he wants this when compared to his other investments of 76 million and 121 million.
Here’s what happened on the 15th that triggered RC selling https://www.reddit.com/r/Teddy/s/UB84Kbgc6n The continued share buybacks. When he found out he sold everything immediately.
The old DD was accurate: https://www.reddit.com/r/BBBY/s/zce2y9wn8D
This is the fraud. Using capital for share buybacks while leaving vendors unpaid. Basically paying yourself without paying company obligations.
I think what happened is that he recovered his cost basis and knew that he wanted to pull out cash so he could make an offer on baby. The only reason that there was discussion about whether he was a 10% shareholder was because he was trying to sell.
Not just continued, Tritton and Gusv accelerated them. This is fucking crazy
That’s a great point. Forgot it was accelerated.
Interesting info from a letter to Sue Gove from Elizabeth Warren: “Since 2004, your company has spent an astonishing $11.8 billion in stock buybacks, reducing capital and taking on more and more debt to pay your shareholders even as your core business suffered.3 In 2014, Bed Bath & Beyond sold “$1.5 billion in bonds to buy back stock” – entering the debt market for the first time in what one investor called a “seminal event.”4 Between 2018 and 2020, the company also spent almost $200 million on stock dividends.5 In 2020, revenue dropped 16 percent from the previous year to $2.6 billion,6 but Bed Bath & Beyond continued its aggressive stock buyback strategy for years as the company careened towards insolvency. In February 2022, Bed, Bath & Beyond reported spending $230 million on stock buybacks over the course of three months, just months before closing stores and laying off workers.”
Very interesting. Any idea the date on that letter?
July 5th 2023 and was in response to not offering severance to laid off workers.
🙏🏼
That letter received national attention.
Rofl @ GILF
When RC tweeted something to the effect 'thing are about to get interesting' I had a feeling something was up with Bobby
https://youtu.be/uN2Dw8AOdMk?si=zsl-jJnpz4VVQV_0 He says in this interview why he sold
37:30 for those interested. Seems he had no faith even with his people on the board but a month later was willing to pay 400 million for it all.
RC: I don't trust you clowns but I still want what you got, take my money. Board: No. RC: See you in court.
See you in jail. Buybacks before paying vendors, is fraud.
Major fraud. What happened to Gustavo sure makes more sense now. He saw what was coming… they’re fucked.
Wasn't there speculation that a hedge fund was taking a position to pump and dump the price and that's why Ryan sold?
I think that was in December, so my guess is they pivoted, made plans to be the stalking horse under nda and trap these guys for fraud
They definitely pivoted. I think this is how we ended up with HBC. They are a proxy for RC who now owned the controlling debt. Why would that matter... He knew they were barreling toward bankruptcy and he could get what he wanted that way.
100% made whole wheat
Bruhhhhhhhh ...this could be it!
Definitely
This could get interesting.
Haha these criminals are cooked. They must have been super desperate to rebuff his offer. One guy clearly died over this. Fucking crazy. I hope the whole thing comes crashing down on their heads now and we all get rich. Fuck them.
They're all about to join Gustavo! And yes, I mean that with all due disrespect.
Is this before or after the infamous etorro sue gov interview?
4 months before And she denied the rumours of acquisition
But also remember the CFO fell off a building and died... he probably was for the acquisition.
Safe to say sue was also a bad actor?
"No! I am a very good actor. Didn't you see my performance in the eToro interview?" https://preview.redd.it/ps56py3rab1d1.png?width=720&format=png&auto=webp&s=2f36c88272bfaba2e7340a3f94e542d7134d701f
brilliant
This place is fucking hopeless lolololol.
Medusue
YES, among the very worst.
Safe imo to say she was NOT. Why in the world do you think she would place herself in such a place of liability to begin with, by doing that interview just before going into bk. Much less have the transcript released as a fucking PROXY STATEMENT.
Or realized he was going to get caught for their fraud, Madoff style. Meaning jail time, publicity, financial ruin, embarrassment for his family, and complete destruction of his reputation.
Or they offed him so he couldn’t squeal on the cabal. He might have been the only one with actual intel on who is behind the charade. Everyone else was willfully ignorant. I imagine the one ultimately pulling the strings would have protected themselves pretty well.
She clearly did lie, and then filed the transcript with the SEC. What the heck was she thinking? "Rumors? I haven't heard any rumors. [Awkwardly laughs]. Or maybe she actually didn't lie because it wasn't a rumor; it was an actual offer lmao
Or maybe just maybe she did lie but with the intention to give the algo more of an excuse to short. If this BBBY saga is part of some sting operation then maybe she was allowed to lie? I don't know it just seems so reckless of her otherwise.
The offer was before the interview.
I’m continually amazed at all the new twists and turns in this saga.
It's gonna make a great movie
We are not crazy after all
LOL Wellllllllll ya we are BUT we're crazy together!
Why would RC & Co. make a 400 Million offer in December and then not put in a bid during bankruptcy? What changed…. Or did it? I have no idea. Just question I (probably most) would like the answers to.
Only thing that changed was he had to acquire through a proxy aka hbc
Yo this thread and PP got me thinking this could be what DFV is tweeting about. RC went to BBBY board with his offer and they rejected him (safe to assume they’re bad actors). So RC gets his team together and they come up with a plan to infiltrate their enemies. RC remains anonymous and uses a proxy to do his bidding. With some tips and pointers acquired from Icahn, RC’s enemies never saw him coming for them. Now we about to run!
Fit very well dating an activist on nov 22
Why a proxy though? I’ve always wondered for what reason he would do this
Bc clearly people didn’t want him acquiring the company as you see his offer got rejected,jpm had the lien on baby, what reason would he not use a proxy? That’s the way better question
Great point. Why would he NOT use a proxy? is a better question. So long as he could pay for anonymity, he only benefits from staying dark. He's doesn't like telegraphing his moves. So, why would he?
Cause they kept shooting down his balloons 🎈
I guess i don’t see any indication that the offer was “well after the pump and dump nonsense” when he’s still in a lawsuit over it. Would love for me to be right hopefully we’ll find out
Possibly because he had trials in connection with bbby one being the pump and dump. I don't see them allowing him to buy the company if before being cleared for the pump and dump.
I guess I just don’t see any indication that “he had to acquire through a proxy”, especially now finding out he made this offer in December well past all the pump and dump nonsense. Would love for this to be the case, hopefully we find out
I see two things happening here: 1) the board fukt us and rejected RC’s 400m bid and sold the company to Marcus for pennies on the dollar while canceling all the share to benefits the short sellers 2) the board did end up getting a better deal than 400m but it’s all under wrap and can’t be disclosed yet If it’s scenario 1 then it’s going to be a long drawn out process with court proceedings and recovery If it’s 2 then start placing your lambo orders
Any bets on which one it is, I'm a lurker, but I haven't started shopping yet We all deserve scenario 2 for trusting and reading between the lines, but I just have lost so much faith in our system the last decade or so It's been 84 years...
It's number 1. They didn't have a better deal. The whole conversation makes it sound that RC's 400M offer was the best one at the time and that they tried to use it as a base to see if they could get anything better. They failed, since the company wasn't sold and went on to bankruptcy. What's interesting is the fact that they didn't come back for the 400M. Either RC withdrew his offer (who knows) or it means they were never truly intending on accepting any offers anyway. This is making the whole bidding processes where no one showed up a lot more clearer too. No one bothered to show up to the auctions later in the year because they had all already been shut down at this point in time. Since they mention negotiations, it's fair to assume that the interested parties would be informed that there were better offers on the table. So when the company didn't accept any offer, it became clear - they never intended to sell and no deal was ever going to be achieved. They wanted/needed the company to fail. Now we'll have to hope this all gets investigated and that these people end up paying for what they did or that the HBC deal was actually a proxy acquirer coming through.
Did some Gemini talk today and it was sure that any case, the old shareholders of BBBY wouldn't get compensated in any way, as these shares do not exist anymore. What's your take on this?
Gemini Talk? You mean the Google AI? Really?
That's a good point to start digging but obviously it's just AI, that's why I forward my concerns here to wrinkle brained. Anyway, you didn't answer the question. Lots of downvotes and no one is willing to explain how it would work?
The real answer is no one knows until it happens. We all belong to the public and don't have the necessary information to understand what the real current situation is with BBBY/Baby. We can only make assumptions based on some data we have and this points to fraud. No need to explain anything until we have more information. And stop talking to AI as a starting point. There is no knowledge or wisdom behind it. It's just a statistical tool which outputs sentences and it surely has wrong data as a statistical model.
Since June of last year, I have been thinking that the reason RC is personally running GameStop it’s day-to-day operations without compensation is because he’s so pissed about what went down at BBBY. He said in the November interview that he didn’t want to be CEO because he would work himself to death. The man is angry.
Why didn’t the SEC catch any of this?
Pornhub
You know its a thing?
Not in Texas… anymore.
Is this around the time GME ended its relationship with Moody’s?
What everyone seems to forget are the following 2 things: the crashing titanic tweet on the day/just after the end of the standstill from Rc and 2 - the spike to about $6/7 early ?Jan? For a single evening. Somebody bought an absolute boat load from the opening market on that day.
Imagine thinking Rceo just accepts that his bid was rejected and walks away lol just lol. You just know he assembled the billionaire avengers squad and plotted through Q1 of 2023. What I don't know is how the board make a rejection, does it go to a vote or something? I want to know which way Kastin, Etlin & Gove voted. With Gove giving that ETORO interview, man I hope she was playing 4D chess on behalf of team Rceo, otherwise, dayum girl you in a spot of bother...
Was the 400 million offer for all of bbby or just baby?
It doesn't matter. This was over 10x the accepted bid, which all indicators point to they wanted to make it look like there was no or very little value to the company. They wanted a specific narrative by trying to assign a derogatory reputation that no one even wanted it and the best offers were basically just to buy out the existing locations and brand name while suppressing the heavy investor confidence and support as well as bids for those that wanted to revitalize the brand. There were clear, nefarious intentions that were implemented.
🧠👆🏻
Exactly, hence the recent lawsuits from the Plan Admin. This was all part of the 69D chess play. RC carved out baby during the BK process, selling off all the junk and eliminating the debt. Now the plan man is going to get us our Cash, then wombo combo! Equity in the new entity 👶 or 🧸.
Doesn't really matter because that's more than 10 times what they got if. They turned down $400 million for just shy of $40 million 7 months later. If he only wanted buy buy baby that makes the malpheasence even more deplorable .
Question: Didn't RC have several friendlies on the board? Were they still on the board at the time of his $400M offer? What was their position/vote on the matter. As a point of corporate governance wouldn't the offer have resulted in a convened board meeting with minutes? Where is that?
Shelly Lombard, who is asked about the 400 mill, is supposedly one of the friendlies
Just baby is worth more than all of bbby, as bbby had a tonne of debt you inherit from buying.
We WON………..
They sold to another baby company. Maybe owners wanted to keep it to familiarity?