Sardar biglari politics
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Biglari Holdings
American holding company headquartered in San Antonio, Texas, US
Biglari Holdings Inc. is an American holding company headquartered in San Antonio, Texas, founded by entrepreneur Sardar Biglari. Its subsidiaries include Steak 'n Shake, Maxim magazine, First Guard Insurance, Southern Pioneer Insurance, Southern Oil, Abraxas Petroleum and Western Sizzlin'.
Steak n Shake
In August 2008, Biglari took over Steak n Shake, which had been “losing more than $100,000 a day in 2009 to making more than $100,000 a day in 2010, according to Biglari’s 2010 letter to shareholders.”[1] By 2015, the company had attained 24 consecutive quarters of same-store sales increases under Biglari.[2] However, for fiscal 2017 and 2018, the Steak n Shake division had returned to same-store sales contraction.[3] The company is now selling “franchises” claiming they will split profits 50% / 50% with the investors who put in $10,000.
Maxim
On February 27, 2014, Maxim magazine was bought by Biglari who commented, "We plan to build the
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At the grand opening of a Steak ’n Shake Signature in Midtown Manhattan last month, Sardar Biglari, the fast-food chain’s chief executive, tried his best to look happy. Tall and well dressed, with slicked-back hair and a Chopard watch, Mr. Biglari seemed every bit the young Wall Street tycoon as he joined his employees in a ribbon-cutting cheer: “Steak ’n Shake is great! Steak ’n Shake is great!”
It was something of a mood shift for Mr. Biglari, who just three weeks earlier had been defeated in one of the biggest battles of his short career. An upstart investor who has become known for knock-down, drag-out proxy fights, Mr. Biglari, 34, lost an election to the board of Cracker Barrel, the restaurant chain based in Tennessee. The ordeal involved searing letters, a contentious board election and no shortage of harsh words — the same playbook he used to gain control of Steak ’n Shake in 2008.
Mr. Biglari, the chairman of Big
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When Sardar Biglari moved with his family to the U.S. in 1984, Steak ‘n Shake was already a verified favorite on the quick-serve scene. In fact, the tried-and-true Midwestern chain was celebrating its 50th anniversary the year Biglari immigrated to San Antonio from Iran.
Today, 28 years later, Biglari is chairman and CEO of Biglari Holdings, the parent company of Steak ‘n Shake, Western Sizzlin, and investment management firm Biglari Capital Corp., a group of subsidiary companies that together are worth hundreds of millions of dollars.
And he’s only 34 years old.
Since joining Steak ‘n Shake’s board of directors in March 2008 and then taking over as chairman and CEO in August of that year, Biglari has implemented a top-down overhaul of its operations. The overhaul has helped the company to 10 straight quarters of same-store sales growth, as of Q3 2011. Steak ‘n Shake also went from losing more than $100,000 a day in 2009 to making more than $100,000 a day in 2010, according to Biglari’s 2010 letter to shareholders.
The man behind the s
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