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Biglari Holdings Ordinary Shs Class B C.BH


Primary Symbol: BH Alternate Symbol(s):  BH.A

Biglari Holdings Inc. is a holding company owning subsidiaries engaged in a number of diverse business activities, including property and casualty insurance, licensing and media, restaurants, and oil and gas. The Company’s restaurant operations are conducted through two subsidiaries: Steak n Shake Inc. (Steak n Shake) and Western Sizzlin Corporation (Western Sizzlin) for a combined 492 units. Its insurance activities are conducted through two insurance entities, First Guard Insurance Company and its affiliated agency, 1st Guard Corporation (First Guard), and Southern Pioneer Property & Casualty Insurance Company and its affiliated agency, Southern Pioneer Insurance Agency, Inc. (Southern Pioneer). Its insurance businesses provide insurance of property and casualty. The Company's oil and gas operations are conducted through two entities, Abraxas Petroleum Corporation (Abraxas Petroleum) and Southern Oil Company (Southern Oil). Abraxas Petroleum operates oil and natural gas wells.


NYSE:BH - Post by User

Post by abezanon Mar 28, 2006 10:27am
102 Views
Post# 10578791

your comments on the accounting

your comments on the accounting are right on the mark , no excuses, this process was not managed well, hopefully all the issues are behind the company. the comment on debt is not well thought out , to the extend operating facilities are permanent it is a cheap source of quasi permanent capital , read prime for 85 percent of receivables, that is an important asset. ebitda is just a term , to be more precise i look for freely distributable cash, there are a number of accounting entries above the ebitda line that remain hidden that are non cash items.
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