Read his 13d/a . Both me & dow jones got 6.45%. Chances are your Bloomberg data is before the recent sales.
Gabelli Funds Reports 6.45% Stake in Biglari Holdings
8:00 AM ET 3/23/2015
Dow Jones Newswires (212-416-2800)
The truth is sort of hidden. There is a hurdle rate but he doesn't pay anything for the use of the money. So one could argue the value of the capital might be 6% or more.
The biggest issue is the money was transferred WITHOUT shareholder approval.
Its just flat out DISHONEST and a way to get around shareholder wishes.
It appears he sold 13,000 at $ 3.82 avg. But the form 4 shows D rather than S like I believe it should.
1. Reflects the weighted average price of multiple same day open market sales within a one dollar price range of one another at prices ranging from $3.78 to $4.05 per share.
clichyallan goes on IGNORE too.
Increasing the market cap is idiotic, Increasing the per share value is the goal.
They are NOT the same. But, cant expect these idiots to know that.
Member since: Aug 19, 2014
He remains on ignore.
the voting results are going to heavily depend on the proxy advisory firms opinions.
And while BH may win, don't expect them to take it easy on his misdeeds here.
I did just that with over 10% of my position today.
Excuse me for thinking Biglari or his board had integrity.
You seem to miss the point.
Most everything I bought in 2008 has went up more.
And BH has severe governance/honesty issues that need to be addressed.
JD Rock calls me a "short term player".
The shares I sold today were bought in 2008.
Every single holder of BH would have been FAR better off selling BH and buying CBRL when BH was buying CBRL.
And they would also have done better buying a restaurant index fund.
They also asked BH for a response IN WRITING as to how he plans on voting the 216,913 shares purchased in part with capital belonging to outside shareholders.
Gabelli indicates he will vote for Groveland unless those shares abstain.
Gabelli has sold on multiple occasions over the last 60 days. (2/23 thru 3/18)
As low as $419.45. And as high as $437.80.
I haven't bothered to figure his average sale price.
I parted with just over 10% of my position today as a limit order that I had placed a week or so ago filled.
My cost basis on those shares was $122.93.
I also own some BH as low as $61.78.
My taxable account is now evenly divisible by 5 so I wont lose value in future rights offerings. Which apparently are going to be an annual thing because big is never big enough for sardar.
You don't touch on the lies that BH is telling in an attempt to get our votes.
You don't touch on the poor performance since buying CBRL, We should have dumped our BH and bought CBRL instead. Also, you don't compare BH to its peers, which really outperformed.
He has taken on massive debt at the steak & shake level.
His spending is totally out of control. The board are a bunch of rubber stampers.
Id rather not sell my shares but I cannot & will not vote for a single board member that would allow such deception toward shareholders.
SNS wasn't even close to insolvency. they must think we are idiots.
And we get a press release when he needs our votes.
I voted today.Withheld for the entire board.
They snookered the money out without a shareholder vote. And they LIE about being 90 days from insolvency.
They ignore one of their largest holders in Gabelli.
I don't want Groveland but Im voting for them. When I get their materials. I got BHs today. Didn't need to vote ,wanted to.