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Did Matt Susz REALLY 'drop dead'? Joe Biden offers condolences for Jo-Ann CFO

Joe Biden made the remarks while signing legislation at the White House on June 16, saying he would improve inflation at least on the margins

President Joe Biden signed legislation at the White House on Thursday, June 16, saying he would improve inflation at least on the margins. He put much of the blame for inflation on Russian President Vladimir Putin, calling out the industry of consolidated foreign-flagged vessels. 

The president began speaking at the White House by first offering his condolence for the head of Ohio-based specialty retailer Jo-Ann Stores. Reportedly, the company's chief financial officer, Matt Susz, suddenly died on Wednesday, June 15. The Hudson, Ohio, fabric and craft retailer said that Tom Dryer, the company's vice president at present, will serve as interim chief financial officer. Susz joined Jo-Ann in 1996 and had been a chief financial officer since February 2019. Dryer joined the company in 1989 and has been in his current post since 2011. 

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"And by the way, my sympathies to your family of your CFO, who dropped dead very unexpectedly," Biden said at the White House. "My best to their family. It's tough stuff." The company said of Susz death, "It is with immense sadness that we share the unexpected passing of Matt Susz, executive vice president, chief financial officer of JOANN, Inc. Susz joined JOANN in 1996 and served in various roles of increasing responsibility within finance, information technology, strategy and operations over the past 26 years. Prior to JOANN, Susz contributed his talents for five years at Arthur Andersen LLP in the audit practice."

"Susz was deeply invested in building up the textiles industry and his community, and served on the board of directors of WeaveUp, Inc. as well as the United Way of Summit and Medina Counties. As a board member, Susz provided time and strategy acumen that helped propel both organizations forward," the company's statement added.

Biden's comments were made at an event where he accused shipping companies of "sticking it to American families and businesses." The president slammed them for the hike in prices that "hurt American families", claiming that at a time when supply chains were disrupted in 2021, an industry controlled by nine major companies enjoyed $190 billion in profits.

"These carriers made $190 billion in profit in 2021, seven times higher than the year before," Biden said. "The cost got passed on, as you might guess, directly to consumers, sticking it to American families and businesses because they could." The president added that the new law would "bring down prices to give American families a bit more breathing room."

The legislation he signed on June 16 is aimed at making shipping goods across oceans cheaper. He joked about how the vote for it in the House was overwhelming and how the bill did not face any objection in the Senate. "I hardly remember those days. I served there for 36 years," Biden said. 

In March, the Ocean Shipping Reform Act passed unanimously by the Senate via voice vote. The act, which won bipartisan House support, empowers the Federal Maritime Commission to investigate late fees charged by carriers. Further, ocean carriers and marine terminals are prohibited from refusing to fill available cargo space.

Meanwhile, Biden is set to travel to Saudi Arabia in July, as part of a larger trip to West Asia. He will reportedly interact with Crown Prince Mohammad bin Salman. The Crown Prince is believed to be the mastermind behind Washington Post columnist Jamal Khashoggi's murder in 2018. At the time, Biden had promised to isolate Saudi Arabia and vowed to make it "pay". Biden's trip to Saudi Arabia was announced as the country decided to impose an official crackdown on homosexuality.

With Biden's visit to Saudi Arabia, the president is risking being labeled a 'hypocrite' as he attacked 'ultra MAGA laws' on Wednesday, June 15, and signed an executive order for rolling back a wave of anti-LGBTQI+ legislation. He condemned hundreds of these 'ultra MAGA' laws that discriminate against gay and transgender people. Signing the executive order designed to roll back the impact of over 300 laws, the president described it as a battle for the soul of the nation.