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Biglari Holdings Inc. Message Board

muhammetal 3 posts  |  Last Activity: Apr 6, 2014 12:02 AM Member since: Apr 10, 2013
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  • Reply to

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

    by den56kk Mar 28, 2014 4:28 PM
    muhammetal muhammetal Mar 30, 2014 11:32 AM Flag

    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

  • Reply to

    Got his insurance company

    by smaycs4 Mar 19, 2014 4:59 PM
    muhammetal muhammetal Apr 5, 2014 7:52 PM Flag

    I found some details on First Guard on the Arizona Insurance Commissioner website:

    Financial Information as Reported for 2012
    Assets $17,465,733
    Total Liabilities $576,836
    Total Capital $2,500,000
    Total Surplus $14,388,897
    Arizona Premium $120,758

    They claim it's a profitable company, so Swollen Testicles' idol had to pay something above assets. 1.5x = $26mm. 2x = $35mm. I doubt it was more than that - too high a premium and hard to believe a higher number wouldn't have been material - thus would have required a disclosure of terms.

  • Reply to

    Got his insurance company

    by smaycs4 Mar 19, 2014 4:59 PM
    muhammetal muhammetal Apr 6, 2014 12:02 AM Flag

    From Louisiana Department of Insurance:

    Summary Financial Information for 2013
    Assets $18,933,106
    Liabilities $652,921
    Surplus $18,280,185
    Net Income $1,391,286
    Total Louisianan Premium $1,450,964
    Total National Premium $15,656,156

442.84+3.13(+0.71%)Apr 17 4:00 PMEDT

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