Over the last 2 years, Biglari Capital has earned $57,000 (no zeros omitted) in incentive fees from The Lion Fund.
Over the last 2 years, Sardar Biglari has earned nearly $14,000,000 in incentive compensation from BH.
Seems like the BH shareholders screwed up when they approved the comp plan for Sardar in exchange for 100% ownership of Biglari Capital.
That's so obvious that even smacys should be able to see it. Heck, I bet smacys has made more money in the last 2 years than Biglari Capital.