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February 21 - It was learned on the 21st that the US military has begun withdrawing from the Kasruk military base in Hasakah province in northeastern Syria. Several US officials previously stated that the US military had recently completed its withdrawal from the Tanf military base near the Jordanian and Iraqi borders and the Shadadi military base in northeastern Syria, and will withdraw from its remaining bases in Syria within the next two months.Iranian diplomatic sources have confirmed that nuclear materials will not be transferred out of Iran.The Ukrainian military stated: "Our troops attacked a Russian gas processing plant in the Samara region and caused a fire."The Ukrainian military says that a Ukrainian Flamingo missile struck a Russian ballistic missile manufacturer in the Udmurt region.On February 21st, St. Louis Federal Reserve President Konstantin Mussalaim, a 2028 FOMC voting member, stated in an interview with Fox Business on Friday that his view on the economic outlook would not change significantly if the Trump administration maintained most tariffs through other means. He also indicated that he wanted to know whether businesses would receive tariff refunds and, if so, how much. When asked about the possibility of an interest rate cut this year, Mussalaim stated that the Feds benchmark interest rate is currently at or below the so-called "neutral rate" level—a level that neither stimulates nor inhibits economic growth. This level is well-suited to handle any direction the Feds mission may take.

Sue Gove Will Become the Permanent CEO of Bed Bath & Beyond

Charlie Brooks

Oct 27, 2022 11:55

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Wednesday, Bed Bath & Beyond Inc (NASDAQ:BBBY) announced that interim CEO Sue Gove would assume the role permanently.


Gove, previously chairman of the company's strategy committee and an independent director, was named interim CEO in June after Mark Tritton was fired in an attempt to reverse the company's commercial slide.


According to the company, the nomination was approved unanimously, and Gove will continue to serve on the board.


Once considered a "category killer" in home and bath goods, the big-box retailer's prospects have worsened due to unsuccessful attempts to sell more store-branded products and a management change.


Gove told Reuters that "regaining market share" is one of her long-term objectives as CEO.


Prior to this, activist investor and billionaire Ryan Cohen had criticized the company for its "overly ambitious" strategy, excessive CEO compensation, and inability to regain market share losses.


Cohen was the company's biggest investor until August, when he sold his 9.8% stake.


Bed Bath & Beyond said at the end of August that it will close 150 stores, decrease personnel, and alter its marketing approach in an attempt to bring its money-losing company around.


A small number of outlets have closed since August, and a bigger number will close "before the end of the year," according to Gove.


Last month, the firm reported a larger-than-expected loss for the second quarter, but said that there were early signs that its efforts to decrease excess inventory were yielding fruit and that it projected its cash flow to achieve parity in the fourth quarter.


Due to Gustavo Arnal's death in September, accounting manager Laura Crossen was named interim chief financial officer.

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