The CEO has a history of struggling to inspire people, namely that of other company execs. In fact, other company execs want nothing to do with this shuck. He struggled getting on the board of WESt, then created no value, bought into a failin SNS and had he not won the board seats, he would have lost significant capital in his hedge fund. ITEX and Fremont want nothing to do with this idiot.
And that was before his insane comp proposal. Now, no one in their right minds are EVER going to monetize their business to BH to give up such huge future profits to this guy--for doing nothing.
Mark my words, SNS will struggle to go over $500 per share, and here's the key, over the next 5-7 years!
>>> The CEO has a history of struggling to inspire people, namely that of other company execs. <<<
Yes, the CEO of ITEX specifically said he has no interest in working for Biglari. The COO of SNS left. He has failed to bring in other execs to fill the important positions at his restaurant companies. Line-level managers hate the new scheme at SNS which does not allow spending for items as small as new silverware. This kind of strangling of the organization will eventually undermine the company's competitive position and earnings power as nobody will want to work there.