Biglari Holdings: Key Issues & Tangible Solutions For Shareholders

Biglari Holdings: Key Issues & Tangible Solutions For Shareholders by Lonnie J. Rush & Jacob L. Taylor, Farnam Street Investments.

• We seek to focus on the facts.
• The situation is far from intractable, if a mindset of compromise is adopted by all parties.
• We provide tangible, shareholder-friendly solutions to the biggest challenges at Biglari Holdings.

Overview of the Biglari Holdings proxy battle:

While Groveland Capital makes very valid points regarding the circumvention of the incentive agreement and the egregious nature of the licensing agreement, they failed to recognize the operational and investment success of Mr. Biglari and Biglari Holdings since he’s assumed the helm. And while Mr. Biglari has done a great job operationally and with capital allocation, he and the board...