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Biglari Holdings Inc. Message Board

  • den56kk den56kk Mar 28, 2014 4:28 PM Flag

    The $11 MILLION Dollar Man...............

    sadar made $11 mil in both 2012 and 2013..........That's just CRAZY pay ........

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    • You guys are just now figuring this out. Seriously? Shareholders have been getting screwed. You know most of the working capital for public companies goes to the Lion Fund? And on top of that the public company pays a fee. It's like a bank paying me to borrow their money.

    • Actually, he made nearly twice that in 2013 after his double dip into the performance fee pool. The Lion Fund II financials have been posted to EDGAR, revealing that the jockey received a "performance reallocation" at the end of 2013 in the amount of $10.7 million. That amount was reallocated from BH's "limited partner" capital account in the fund to Sardar's "general partner" account. Thus, in 2013, the jockey made $10.9 million in salary and bonus from BH directly + another $10.7 managing corporate assets consisting solely of CBRL stock transferred to the Lion Fund II on 7/1/13 = $21.6 million. For perspective:

      BH market cap $831 million jockey comp: $21.6 million
      BJRI market cap $921 million CEO total comp: $4.1 million
      BOBE market cap $1.2 billion CEO total comp $4.1 million
      BWLD market cap $2.7 billion CEO total comp: $3.5 million
      USB market cap $77 billion CEO total comp: $10.8 million
      WFC market cap $259 billion CEO total comp: $19.3 million
      FFX market cap $10 billion CEO total comp: $662 thousand
      BRK/a market cap $304 billion CEO comp: $423 thousand

      • 1 Reply to muhammetal
      • I saw that and thought I posted it. Its pretty darn shameful what he is doing to us. Like 10+ million a year isn't enough for him.

        Disappointed that the senior citizens making up the board pretty much rubber stamp anything he wants to do just like the old board rubber stamped whatever the prior CEO wanted to do.

        Im still long but ticked off about his end-around deception.

        But, at the time time, he isn't sucking out millions via options & grants that happens elsewhere so he might even be cheaper in the long run.

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