Parsad

Yup! That's dead on. Cheers!

Wouldn't it have been cheaper to just put Berkowitz on the board? Would he not have been able to generate more shareholder value than Morgan Stanley? What a joke! Why do CEO's do this? Is it because they don't have enough things to blow the company's money on? Cheers!

Yup! I'm actually surprised that they aren't getting major redemption requests at this point. Cheers!

I don't see him having a massive implosion. But I do see him getting control of BH over time, with little oversight by the board into the initiatives that will be implemented. Cheers!

We thought we had a mouse in the house this winter. I caught it and since then I have caught 12 more..... Al, what are you saying then? That you expect to catch one really big mouse at the end, after you've arranged plea bargains with the other 12! ;D And how much cheese did that take? Cheers!

I hope it was the Pontiac! Cheers!

Does Steak'n Shake now have a corporate jet, or do they lease/charter a corporate jet? That's what I heard...a Vegas trip for friends. Not sure if they did it while including a visit to the new store, but I've heard that there was a trip made in a corporate jet to Vegas recently with friends. Cheers!

I think it's about time there were some independent board members added to Biglari Holdings. Independent board members who own shares in the company. I think this board is becoming very complacent and allowing the CEO to do whatever he wants. You see one press release for Fremont, then another press release on compensation. One press release on CCA Industries, and then one on the reverse split. It's like one for you and one for me...one for you and one for me! Confuse and obfuscate! Oh, he's going after another company...oh no, he's actually strengthening his control. Oh, another company he's going after...oh, actually nope another control clause. Perhaps, it's time for a large shareholder to run a proxy fight and get on the board. Has anyone else here heard that BH now has access to a G5? Is this true? Maybe time for shareholders to ask some hard questions of the management and board at the next AGM. Cheers!

Thought he said the class B shares would have no voting rights. Then I have no idea why he's doing this. Waste a thousand dollars on a press release, and several thousand (if not more) dollars on legal fees? For what? I'm glad the board is doing their job. Cheers!

Most definitely. They are working these guys for any information they can provide them to get SAC and Cohen. They are just building the case and it will take time. You can't go after him without a solid case with full corroborating evidence. He'll just drag it through court for ten years...he has the money. Is it just coincidence, that virtually every arrest and charge over the last year and a half, has a former connection to SAC? Cheers!

The lawyers have jumped on Fremont's board for ignoring the BH offer: http://www.reuters.com/finance/stocks/keyDevelopments?rpc=66&symbol=FMMH.PK&timestamp=20110202225700 http://pr-usa.net/index.php?option=com_content&task=view&id=612243&Itemid=29

Article on the 75th Anniversary of the ING Leaders Trust Fund. Cheers! http://www.istockanalyst.com/article/viewarticle/articleid/4872031

Normally, I wouldn't put any article like this on here, but I thought that some other boardmembers would enjoy it. In particular, the sacrifice these brothers are making for their country. Hope they all come back ok! Cheers! http://afghanistan.blogs.cnn.com/2011/02/08/a-real-life-band-of-brothers/?hpt=C1

Actually, the one comment I do want to make, which hasn't been made is that he could be doing this because they plan on issuing stock for some acquisitions. I would imagine he's going to change or retain the voting structure of the "A" shares, while reducing the voting rights of the new class that may be used for acquisitions. He's not going to issue more shares and dilute his own voting rights. Cheers!

Francois is a terrific guy and good investor. I've known him for several years. Cheers!

No comment! Seems like a waste of time. Cheers!

Hmmm...I wonder who the Feds are aiming for? Perhaps, someone who blows obscene amounts on sharks in formaldehyde? Cheers!

Hmmm...pretty different images, huh! Surprise, surprise. Why did I think that Einhorn's original presentation was just overblown hype? I agree that there may be some possible writedowns, and they may have been slow in doing so, but is there permanent impairment? Einhorn suggests yes, while Berkowitz suggests no. I believe the latter! This was the same thing these turkeys were saying about Fairfax. Run the business into the ground, regardless of whether it can actually survive or not. Think "The Story of Dendreon" on Deepcapture. Unsavory ethics in my opinion and unsavory associations. Cheers!

Well, I don't think this is good news for Einhorn and Tilson's short positions in JOE. I think Berkowitz most definitely sees things he can do with the business that management was either complacent in executing or ignorant of. This is good news for JOE shareholders. Cheers!

Sir John managed alot more money than any of us. So did Peter Cundill. They also had restrictions on the amount of concentration they could have in any one investment. We don't have those restrictions, and our capital base is small enough so that it isn't necessary to leave North America. Buffett only invests overseas because his universe of opportunities has now shrunk to the point where he has absolutely no choice. Investors can do perfectly fine investing overseas...but it isn't necessary at all. Cheers!

Yup, good answer Stubble! I have never left North America, and I can't say my results would have been any better going elsewhere. Buffett didn't leave North America until the last decade and he was managing tens of billions. China, schmina...you can always find cheap here, and it will always eventually move back to intrinsic value. You give away many rights going to other countries where they aren't respected as liberally. If Egypt goes to civil war, you can bet that any new regime change is going to behave similarly to Chavez...outsiders get out and the state now owns your assets! No thanks. Cheers!

Here is the transcript from Markel's latest conference call. I really like the comment by Tom Gaynor..."today’s Markel, which strapped on a third engine compared to the previous two, the power of the growth of the financial value of your company. I’m delighted to report to you that all three engines were working in 2010, as you can see from the 16% growth and the book value per share of this year to a new record high of $326. We are also optimistic that all three will continue to do so going forward." http://seekingalpha.com/article/250845-markel-management-discusses-q4-2010-results-earnings-call-transcript?source=yahoo Currently, Fairfax seems like a much better deal now that Markel has risen to well above 1.25 times book. So Prem, strap on that third engine! You know three-quarters of your shareholders think its time. Cheers!

It looks like he will continue to hold Wesco's meeting for another year or two...even footing the bill himself if necessary...he said it was for the groupies! Cheers!

Nice of them to speak up, eh? Cheers! http://money.msn.com/business-news/article.aspx?feed=OBR&data-ipsquote-timestamp=20110203&id=12870409

I am sure the Weiss crowd will only approve of Sam Antar as head of audit committee....LOL They're idiots. They went to the same school as Herb Greenberg. Cheers!