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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

Comment by eebleron Dec 26, 2009 9:08am
353 Views
Post# 16619321

RE: If you guys want a profitable company...

RE: If you guys want a profitable company...
Anyone reading this that got sucked into BH better read the tea leaves to know that you would be walking into something just as speculative.  SPHE almost disappeared to nothing a few years back.  They tried to engage in their pursuit of being a world-beater just like BH and bought a whole bunch of small staffing agencies, but then they couldn't put all the pieces together.  They had financial challenges, delayed payment to contractors that caused many to flee as quickly as they could, previous employees of SPHE charged as part of the bid-rigging charges of which BH is also accused, etc.  etc.  Not a good story to be buying into.  

A 30% drop in revenues year-over-year is not something to be getting excited when they claim to be targeting to be $1b.  That is a lot of coin, and will take 10-15 years to get there.  Even if they had >$26m to try to beat Singh's SHB, they don't have the size to handle it with less than $14k of cash on hand and
.08/sh.   

This is not a viable purchaser of BH.
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