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Biglari's latest letter to Cracker Barrel owners 10/2013


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Sardar saying he will now sign a contract not seeking board control if added to the board. As always, interesting to watch and I would never bet against Sardar, but I do not see how he will win the proxy vote with the CBRL stock doing so well.






That contract better be more binding than the paper it's written on.  How many ways has he figured out how to get what he wants?  If the CBRL board agrees to a contract, it will be a short tenure for the current board.  Let's see if they are smarter than that!  Cheers! 

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I believe WEB once remarked that if you are playing poker and can't tell in the first 30 minutes who the patsy is, you're it.......something for the CBRL board to think about before agreeing to any request





Although Sardar appears to speak non sibi, sed omnibus, you might say that, for the board, abundans cautela non nocet.

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Can anyone enlighten someone like me, who's not familiar with corporate governance laws/rules, with what happens if they agree to let him have two seats on the board?


He'll possibly push his agenda as the largest shareholder until he possibly forces board members out.  Either tow the line or you will be out.  Cheers! 

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