We have to be careful what we say about Sardar Biglari, CEO of San Antonio-based Biglari Holdings(BH). After all, if he doesn’t like it, he might sue us. For the second time in months, Biglari has filed a defamation suit. Marc Gagni of Gagni Asset Management Inc., a San Antonio investment adviser, stands accused of making false statements… Read More »
Earlier this year, Nick Swenson dared to threaten Sardar Biglari’s reign at Biglari Holdings(BH) by launching a proxy fight. Due, in part, to Biglari voting company owned shares in his own favor, Biglari was successful in fending off the attack. He followed up by using company funds to tender for enough shares at $420(and not retiring them) to… Read More »
Fresh off his successful campaign to to take the company from its shareholders using their own funds, Biglari Holdings(BH) CEO Sardar Biglari is spending his time creeping out supermodels. Sexy Brazilian model and actress Alessandra Ambrosio appears in a nude cover photo on the new issue of Maxim — but it is a photo inside that has her… Read More »
Turnaround magician and Oracle of HisOwnMind, Biglari Holdings(BH) Chairman and CEO Sardar Biglari continues to struggle with Maxim magazine. The NY Post reports that editor Kate Lanphear is gone, just six months into her attempt to reposition the laddie mag as a luxury magazine. Her tenure has included the previously unthinkable- featuring a man on the cover of the August… Read More »
Bilgari Holdings(BH) Chairman and CEO Sardar Biglari has, on multiple occasions, let us all know that Biglari Holdings is a ‘jockey stock’ and that he is the ‘jockey’. It seems though, that the horse’s owners continue to resist his orders. Biglari first tried to classify the stock in February 2011, but was unsuccessful in that attempt. More recently,… Read More »
As an activist, Sardar Biglari has taken stakes in various companies, and, when he hasn’t gotten his way, pushed his agenda in the name of good governance. See, for example, the recent amendment by the Chairman and CEO of Biglari Holdings(BH), of his 13D on Cracker Barrel(CBRL). Emphasis is added: On August 16, 2012, BH delivered a letter… Read More »
Sardar Biglari has found a fifth person to rubber stamp his decisions. Biglari Holdings(BH) filed an 8-K yesterday noting it had added James Mastrian to its Board, increasing its size to six members. From the filing: On August 14, 2012, the Board of Directors (the “Board”) of Biglari Holdings Inc. (the “Company”) increased the size of the Board… Read More »
Cracker Barrel Old Country Store(CBRL) announced today that it had added Norman Johnson to its Board of Directors. The company proudly points out that he is the 7th new Board member added in the past 18 months. Consistent with the company’s position in response to Sardar Biglari’s campaign for a Board seat, Mr. Johnson’s business experience was, most… Read More »
Sardar Biglari has acquired a reputation as mercurial CEO, engaging in multiple proxy fights and hostile bids for companies he’d like to acquire. In a particularly prolonged battle, Biglari spent well over a year attempting to acquire Fremont Michigan Insuracorp through his Biglari Holdings(BH) vehicle. Fremont went so far as to have a Michigan state law passed making… Read More »
Unchastened by his unsuccessful proxy fight for a Board seat at Cracker Barrel(CBRL), Biglari Holdings(BH) Chairman and CEO Sardar Biglari has begun aggressively purchasing Cracker Barrel stock once again. Biglari had been held to 9.9% by a rights plan which was voted down by shareholders at the annual meeting in December. Free to acquire more Cracker Barrel stock,… Read More »