He isn't selling stores, he is allowing franchisees to build them for a fee.
Note that company owned stores increased by 4.
Hopefully the income will offset all he has spent.
Just wonder what he paid.
Gotta know he is going to add "By Biglari" to both the soft porn magazine and the insurance company.
Because truckers and soft porn customers want to do business with an egomanic Iranian.
But, Im pleased the stock is up. Hope it stays up.
Its an empty shell with cash per share roughly equal to the share price. Plus some NOLs.
BD will eventually merge something into SDOI and hopefully when they do the stock price will go up.
Niner is about 76-77.
Mr. Richard T. Niner has been General Partner of Wind River Associates LP since January 1999. Mr. Niner has been General Partner of Brynwood Management II, L.P.; the general partner of Brynwood Partners II, L.P. since 1988. Mr. Niner served as the Chairman of the Board of Hurco Companies Inc. since March 9, 1999. He serves as a Director of Case Pomeroy & Company, Inc. Mr. Niner served as Presiding Independent Director of Hurco Companies Inc. and as its Director since 1986 until March 15, 2012. Mr. Niner served as Director of Arrow International Inc. since 1982 until May 4, 2007. Mr. Niner served as a Director of Air Express International Corp. since 1985 and as a Director of Precision until its dissolution in May 2002.
Richard T. Niner, age 71, has been a member of the Board of Directors since 1986. Mr. Niner has been a self-employed private investor for more than twenty-five years.
I never kept up with his looks before. He doesnt look to bad for 72 to me.
Doubt he wants to take it private. Why hire a new CEO if you want to take it private ?
My concern is the revolving doors at pretty much all mgmt positions below him. And the continued same store sales declines.
The "extra" 50 cents this year, on top of the buyback & last years dividend seems a bit silly. Like what are they doing in the boardroom ?
Clearly I should have sold all mine in the tender offer but hindsight is 20-20.
Recently read this & copy & pasted it just for you.
Finally, consider that a near-identical situation emerged at GLUU (large investor selling and insiders initiating 10b5-1 programs) BEFORE they announced the blowout results that sent the stock up 33% (and still rising).
So again, insider selling is not a meaningful data point. It's often just a sign that the stock has 1) "graduated" or 2) become too large a portion of the constituents' portfolio or net worth and needs to be trimmed. If you know anyone to whom this has occurred, you know this to be true. I happen to know several from the course of my 25-year career.
Retaining a small portion of my position hoping for higher prices is not reckless.
Presuming a 15% holder is wildly gambling with no basis whatsoever seems more speculative and reckless.
It was filed 3/13/14. It should have been filed October 9, 2008 or something.
I compute an avg cost of about $5.78 if my math is right.
The shares beneficially owned by the Niners and the Foundation (the “Shares”) were purchased using aggregate personal funds of $16,498,999.46.
Item 4. Purpose of Transaction.
The Shares were purchased in a series of transactions from November 7, 2007 to March 9, 2009 for investment purposes.
That fund has put many millions into TUES and you think they did that on a whim ?
I think they invested with this CEO before and have had off the record conversations about the upside here.
Not "inside" information but just talk about the potential here.
Potential that has went untapped because of an incompetent boob named Mason.
The upside is mid $30s which is another $15 points higher. The downside is what ? Maybe $6-8 points ?
Im not betting the farm here but you've been wrong for so long now you are sounding like a broken record.
They couldn't have done it. The way they are doing it is probably the best way for them to do it because the idiot longs just dismiss it.
I got a mailer recently featuring them. My concern is price to value. Not sure 2 of the subway things are bigger than a Sams Club or Costco slice for $1.99.
But, its like Ive been saying for 18+ months now, nothing "fast casual" pizza has cannot be easily duplicated.
So it would seem to me to be a fast growing fad. One that's going to leave a lot of operators out of luck when the fad dies. Of course, the fad could last 3-4-5 years. Hard to say.
Nothing about PZZI impresses me though.
Certainly not the many brand new posters coming out of air to tout the stock., (While they secretly short it maybe ?)
It seems someone likes the Maxim buy. Or thinks a cash out of CBRL might be in the works.
But CBRL is not up.
Would they pay roughly market & buy BHs entire stake ? That would really help BH but it would saddle CBRL with debt.
Well, I followed Becker Drapkin in here, only makes sense that I sell some when they do. At a nice profit I might add.
Did the same with PXLW but sold too soon there. But these were both stocks I knew nothing about and wouldn't have bought on my own.
Calling it a pos is emotional, not rational.
They need more traffic and they need larger avg checks but I think both will come in time.
Next year when they report x-mas results, they should and likely will show significant improvement and if they don't by then, then clearly the stock has gotten ahead of itself.
The company is not going to fail, their balance sheet is way to strong for that. They are either going to fix it and grow it or sell it if they cant fix it. They wont get $16 or more unless they fix it though.
So the market is clearly expecting results going forward.
The stores have better merchandise & less aged "junk". Their new system is to move the merchandise, hopefully at regular price but if not, mark it down & sell it to make room for something else.
It takes time to earn old customers back & gain new customers but I think they can get there.
But, what do I know, I sold out of PXLW because Becker Drapkin sold a bunch and today its up 83%.
I more than doubled my money but left a lot on the table.
Sales weak again.....and it doesn't sound massive closures anytime soon.
I figure they have like $4+ per share in cash. Sure seems like they ought to pay out more than 50 cents.
I guess I would have been better off tendering way back when.
He sold 3/05/2014 S 9,000 D $ 12.96 = 42,793
GC and Corporate Secretary
Well, they ousted the Steak N Shake managers when they got control !
Shouldnt there be an 8k out saying how much they paid for it ?
Maybe not. Even if they paid $30 million, its less than 4% of their shareholders equity so not a huge deal.
I guess we wont know until the next shareholders letter his plans.
Its a shame they cant/wont record the annual meeting for those that cant travel to NYC every year.
Sharing information ? Seriously ? Message boards are for spammers & mentally ill folks like Jose.
Actual shareholders & prospective shareholders dont waste their time. Except a few of us.
Im glad LACO is finally prospering. been a LONG wait this time around.