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Biglari Holdings Inc. Message Board

  • smaycs4 smaycs4 Mar 2, 2014 12:57 PM Flag

    Why keep same mgmt that presided over a 28% decline in ad dollars last year ?

    Alpha Media Group Inc. put Maxim up for sale a year ago. The publication has struggled, with ad dollars dropping 28 percent last year to $80.7 million, bucking a 1 percent gain for consumer magazines overall, said the Association of Magazine Media

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    • BH is a holding company - no staff of Executive VPs to send to NY and run the magazine. Every takeover is accompanied by the message that the current management team will be kept, so that they don't bolt for the doors and create chaos. In time, the right people will be put in place. Cheap entry - a vision on how to increase cash flow - the numbers, when announced should be quite impressive. The same "yammerers" that the BH letter predicted are evident on this board. If you don't see the cost of capital reduction in BH - just go buy an index fund; save yourself the perpetual confusion.

      Sentiment: Hold

      • 1 Reply to colormezeus
      • Well, they ousted the Steak N Shake managers when they got control !

        Shouldnt there be an 8k out saying how much they paid for it ?

        Maybe not. Even if they paid $30 million, its less than 4% of their shareholders equity so not a huge deal.

        I guess we wont know until the next shareholders letter his plans.

        Its a shame they cant/wont record the annual meeting for those that cant travel to NYC every year.

    • BH does not have anyone else to take over right now. They will probably hire some new management, but I am willing to bet Biglari thinks his own ideas will work. He usually wants to believe that he is smarter than everyone else in the room.

371.72+1.80(+0.49%)Nov 27 1:01 PMEST