Well its been a little under two years that Sardar Biglari took over the stewardship of one of America's oldest hamburger joints, Steak n Shake ($SNS). Since then he has moved pretty swiftly in shoring up the business and converting it into a holding company. Steak n Shake is no longer just a restaurant but an investment holding company. Currently under their umbrella are Steak n Shake, Western Sizzlin, and an insurance company Fremont Michigan Insuracorp. The latest news is that they plan on changing the parent name from Steak n Shake to "Biglari Holdings" (BH) which will emphasize the holding company. This also is to take away some of the confusion. This will be voted on at the shareholder meeting April 8th 2010.
Author currently long SNS
mmmmm,
ReplyDeleteBiglari Burgers..
I took a pay cut because of this ass...3 years of raises GONE...happy employees will make him more money, but all we are are a bunch of pissed off people looking for other jobs.
ReplyDeleteThis guy took over this company the wrong way, Hostel takeovers shuld be looked at as bad business everywhere! I worked for the company that lied about everything he kicked all of the 20 and 30 year invested emplyees out or the corp office ne morning and just told them to file for unemployment. He made so many cuts like taking the insurence away from all the crewmwmber that worked at all of his stores and mand the managment teams resighn new contracts that said the would not get bonus, and would took away vacation time. He cut corner on the Chilli and now make all the stores use cand beans so that he can make money all the while tricking the new invester... I your thinking about investing please look into it first dont take my word for it!
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