Circle of Competence

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Here it is folks, the first quarter for Steak N Shake, under the watch of Sardar Biglari, is now in the books.
Instead of me giving you all the quotes, you might as well just go ahead and read the press release.  There are too many great quotes for me to choose one or two.
Basically, Biglari [...]

As we’ve known since the annual meeting of Western Sizzlin’, Biglari has been searching for a new CEO for Steak N Shake (SNS).  It seems he has found one: himself.
Before we go nuts here, read this quote from the filing:
 I would like to thank Wayne [Kelley, interim CEO] for his guidance over the last several months. In [...]

Steak N Shake (SNS), led by newly installed Chairman Sardar Biglari, has had a quite an interesting week or two.  I want to highlight 3 pieces of news for those following the story:
1. Administrative Outings:
The first is the resignation of CFO Jeff Blade, who had been subject to the criticism of Biglari and Co. since their [...]

Last Wednesday, I had the pleasure of attending the 2008 Annual Meeting for my favorite young company, Western Sizzlin’ (WEST).  As you all know pretty well by now, I’m an unabashed fan of what Sardar Biglari is doing with Western Sizzlin’, and a shareholder myself.  The meeting took place is mid-town Manhattan at the St. [...]

A great, but not surprising, piece of information was released today regarding Western Sizzlin’: share buyback authorization.
The 8-k filed today by the company tells us that Western Sizzlin’ has authorized Biglari to buy back up to 500,000 shares.  Doesn’t sound like much, until you consider that the company only has a total of 2,700,000 shares [...]

Just wanted to drop a couple of quick notes on two portfolio companies, Steak N Shake and Sears Holdings.
Re: Steak N Shake, they filed the 8-k today regarding the election of Sardar Biglari to Chairman, a move we mentioned last week.
In the filing, there is a small, but noticeable governance issue that has been resolved, [...]

Tonight, after the close of the market, Steak N Shake Co. named Sardar Biglari the Chairman of its Board of Directors.
If you didn’t notice by the title of this post or my recent articles concerning the company, this is extremely good news for shareholders of Western Sizzlin’ Corp, of which Biglari is Chairman and CEO, [...]