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Biglari Holdings Inc. Message Board

  • den56kk den56kk Mar 17, 2014 3:49 PM Flag

    Is Sadar selling something?.....

    SNS?....What accounts for the recent action?.........Would not be the case if they were selling any of the other puny companies in BH..............or maybe there is a big acquisition in the works?...............If that's the case they will need a warehouse for all the debt....

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    • I nailed this just yesterday....1 day ago.....said something was up.....Bubba Sadar got his insurance company........Another DUMB move........

    • Yes,he is selling SNS. He announced his intention a long time ago and he has been delivering.

      Q1 - 2013 Company Owned Steak n Shake = 414; Franchised = 87
      Q1 - 2014 Company Owned Steak n Shake = 418; Franchised = 108

      He's selling SNS restaurants to franchisees. Those unusual expenses that were suppressing earning the last few years, that had some on this board claiming SNS was in the dumper - it's what Gilman said he was going to do in 2005, but never delivered.

      Impact? Lower cost of capital. Very important. Julia Stewart did it with IHOP - look at the value created that allowed her to buy Applebees.

      Sentiment: Buy

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