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OracleofCarolina

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    C'mon Guys You Can Do Better!

    in Fairfax Financial

    Posted

    I tried but it seems like it would not let me use a USA address

     

    Hi Oracle,

     

    It seems that there is a bug if you are using Explorer.  Open the link with Chrome or Firefox, and then select United States...it will then bring up the respective states.  Cheers!

     

    Ok, thanks...got it.

     

    jason

    How to be Rich - J Paul Getty

    in Books

    Posted

    [amazonsearch]How to Be Rich[/amazonsearch]

     

    I decided to pick this book up after attending an annual meeting in NYC. The CEO seemed to know this book cold and was quoting specific page numbers. With a somewhat silly title, I didn't think I would get too much out of the book, but oh well, I dug in.

     

    I enjoyed the book. You think Biglari is having a drawn out proxy battle with Cracker Barrel....well Getty tells a story of trying to gain control of Tide Water Associated Oil Company, it took him 20 years!

     

    Highly recommend..

    WTF!

    in General Discussion

    Posted

    I hope the Colombia business is where the value lays..it sure was not in Argentina

     

    On March 28, 2014, SED International Holdings, Inc. (“SED”) and its wholly owned subsidiary, SED International, Inc., sold all of the outstanding capital stock of Intermaco S.R.L., a limited liability company organized under the laws of Argentina, to individuals in Argentina for a purchase price of $1.00. Intermaco S.R.L. is the indirect subsidiary of SED that operates the company’s distribution business in Argentina. In connection with the transaction, SED also agreed to pay $410,000 to the purchasers’ broker on their behalf, conditioned on SED receiving the benefit of $310,000 in vendor credits.

     

     

     

    The board of directors of SED determined that it was in the best interests of SED to dispose of the company’s distribution business in Argentina on these terms, as opposed to continuing to operate the business or winding-down and dissolving the business, due to the greater financial losses that would be expected to be incurred in connection with either of these alternatives.

     

     

    Biglari acquires insurance company

    in General Discussion

    Posted

    http://www.sec.gov/Archives/edgar/data/93859/000092189514000600/form8k07428007_03192014.htm

     

    Noticed this yesterday, new term loan facility. If i read this right, another $50 million for Biglari to use however he deems prudent.

     

    " Approximately $118.6 million of the proceeds of the Term Loan Facility were used to repay all outstanding amounts under Steak n Shake Operations’ former credit facility and to pay related fees and expenses, $50.0 million of such proceeds were used to pay a cash dividend to Biglari Holdings, and the remaining Term Loan Facility proceeds of approximately $51.4 million will be used by Steak n Shake Operations for working capital and general corporate purposes."

     

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