If they bought several % and ran a proxy contest next year, they could force changes here.
They might even snaggle control away.
I might send them a letter asking them to.
On the payroll along with his dad for something under $120k.
I guess they both have a vested interest in the spoils that Sardar enjoys despite shareholder disapproval.
Awin, I must have missed your post during the noise yesterday.
SNS isn't as much of a cash cow as you think. He is borrowing money which we pay interest on at SNS to give it to BCC so he can earn outsized bonuses without shareholder approval.
Also, I weigh the last 2-3 years of BH share price performance more than I weigh the past.
I certainly don't go back to the before public days.
Groveland, if you pay attention, has asked a dozen or so very good questions that remain unanswered.
And instead of answers, we get deception from Biglari.
That's not to say that groveland wasn't a little deceptive too, they were. But Biglari was MORE deceptive and didn't touch on a number of very good points.
BH is probably spending a million or more of OUR money instead of simply being accountable.
YOU know, like he promised us before.
(we want to make money with shareholders not off them)
Maybe I should have dumped it all ?
Unlike the jdrock punk, I have taxable gains that I would PREFER to defer. If only I could trust the CEO and board not to screw me and other shareholders over.
Vote 100% groveland. Not because we want them, to send a message to the egomaniac and his band of 70 year olds. barely stay awake in board meetings, board of directors.
They did own 9.54% and I get 9.5% now.
The number of shares sold was 685 (42 of which were CHANGE OF DISPOSITIVE POWER)
bottom line is the sales posted were correct but the 6.45% was not.
They HAVE sold. but nowhere near 3%.
Gamco 13ds are the hardest to read.
They had 9.54% at 2/20. And it appears to be 9.47% now.
And it appears he sold/DO 685 since 2/20.
(a) The aggregate number of Securities to which this Schedule 13D relates is 196,324 shares, representing 9.50% of the 2,065,586 shares outstanding as reported in the Issuer's most recently filed definitive proxy statement as of March 5, 2015.
So I stand corrected. They have sold but nowhere near as much as I thought.
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.