JGBRK Posted October 23, 2015 Share Posted October 23, 2015 http://nypost.com/2015/10/22/maxim-editor-ousted-after-failed-luxury-magazine-relaunch/ Link to comment Share on other sites More sharing options...
TheValueDude Posted October 23, 2015 Share Posted October 23, 2015 http://nypost.com/2015/10/22/maxim-editor-ousted-after-failed-luxury-magazine-relaunch/ I always looked at Maxim as an option on top of everything else BH had. Mostly disappointed that Sardar seems to be spending so much time on it. Put someone who knows what they are doing in charge and check in after a few years. Link to comment Share on other sites More sharing options...
Parsad Posted October 23, 2015 Share Posted October 23, 2015 http://nypost.com/2015/10/22/maxim-editor-ousted-after-failed-luxury-magazine-relaunch/ I always looked at Maxim as an option on top of everything else BH had. Mostly disappointed that Sardar seems to be spending so much time on it. Put someone who knows what they are doing in charge and check in after a few years. Frankly, I couldn't care less what happens at BH, but I do find these types of casual remarks all too humorous. How many on here actually realize how difficult it is to run a business, let alone turn a business around? It's as though people expect a miracle turnaround to occur in a few months or a year...many turnarounds may take years...most never ever happen! Cheers! Link to comment Share on other sites More sharing options...
EricSchleien Posted October 24, 2015 Share Posted October 24, 2015 Most turnarounds don't happen because the business world still has very little access to organizational transformation and cultural transformation which produces operating increases on average of 300-600% within the first year depending on the organization. Most of the turnaround stuff is done in the realm of consulting or cost cutting and while it can be effective, it's a very tough game with mostly failures and completely outdated models. Link to comment Share on other sites More sharing options...
gg Posted October 24, 2015 Share Posted October 24, 2015 http://nypost.com/2015/10/22/maxim-editor-ousted-after-failed-luxury-magazine-relaunch/ I always looked at Maxim as an option on top of everything else BH had. Mostly disappointed that Sardar seems to be spending so much time on it. Put someone who knows what they are doing in charge and check in after a few years. Frankly, I couldn't care less what happens at BH, but I do find these types of casual remarks all too humorous. How many on here actually realize how difficult it is to run a business, let alone turn a business around? It's as though people expect a miracle turnaround to occur in a few months or a year...many turnarounds may take years...most never ever happen! Cheers! If I didn't know any better, that would have sounded like Sanjeev defending Biglari! :) Link to comment Share on other sites More sharing options...
Parsad Posted October 24, 2015 Share Posted October 24, 2015 http://nypost.com/2015/10/22/maxim-editor-ousted-after-failed-luxury-magazine-relaunch/ I always looked at Maxim as an option on top of everything else BH had. Mostly disappointed that Sardar seems to be spending so much time on it. Put someone who knows what they are doing in charge and check in after a few years. Frankly, I couldn't care less what happens at BH, but I do find these types of casual remarks all too humorous. How many on here actually realize how difficult it is to run a business, let alone turn a business around? It's as though people expect a miracle turnaround to occur in a few months or a year...many turnarounds may take years...most never ever happen! Cheers! If I didn't know any better, that would have sounded like Sanjeev defending Biglari! :) No, that would never happen! :) But I call a spade, a spade. That's a very tough business in a very tough market...he's going to need more time and more money, and it still may not work out in the end. As an investor, I understand much better now about what happens during a turnaround and what is involved...and that makes me 10 times better as a CEO. As Buffett says, he became a much better investor when he became a businessman, and a much better businessman when he became an investor. Cheers! Link to comment Share on other sites More sharing options...
TheValueDude Posted October 24, 2015 Share Posted October 24, 2015 http://nypost.com/2015/10/22/maxim-editor-ousted-after-failed-luxury-magazine-relaunch/ I always looked at Maxim as an option on top of everything else BH had. Mostly disappointed that Sardar seems to be spending so much time on it. Put someone who knows what they are doing in charge and check in after a few years. Frankly, I couldn't care less what happens at BH, but I do find these types of casual remarks all too humorous. How many on here actually realize how difficult it is to run a business, let alone turn a business around? It's as though people expect a miracle turnaround to occur in a few months or a year...many turnarounds may take years...most never ever happen! Cheers! My comment wasn't really talking about the Maxim turnaround at all. I don't expect anything out of Maxim (especially a turnaround in a dying business model), however this round of bad press only reinforces what I already knew about Sardar. He wants to have his hand in everything. Based on the evidence, I'd imagine he's the same way with First Guard. I've watched BH with interest for years. It's not cheap enough for me to overlook Sardar's shortcomings. Maybe one day it will be. Link to comment Share on other sites More sharing options...
TheValueDude Posted October 26, 2015 Share Posted October 26, 2015 2014 Lion Fund letter from Forbes article today... 286658924-The-Lion-Fund.pdf Link to comment Share on other sites More sharing options...
merkhet Posted October 26, 2015 Share Posted October 26, 2015 My comment wasn't really talking about the Maxim turnaround at all. I don't expect anything out of Maxim (especially a turnaround in a dying business model), however this round of bad press only reinforces what I already knew about Sardar. He wants to have his hand in everything. Based on the evidence, I'd imagine he's the same way with First Guard. I've watched BH with interest for years. It's not cheap enough for me to overlook Sardar's shortcomings. Maybe one day it will be. Purposeful word choice given that there are articles indicating that he's trying to sketch out on the models that come in for photoshoots? Link to comment Share on other sites More sharing options...
JGBRK Posted October 26, 2015 Share Posted October 26, 2015 http://www.forbes.com/sites/antoinegara/2015/10/26/the-gospel-of-greed-how-sardar-biglari-paid-himself-34-million-despite-lousy-fund-returns/ Link to comment Share on other sites More sharing options...
RichardGibbons Posted October 26, 2015 Share Posted October 26, 2015 http://www.forbes.com/sites/antoinegara/2015/10/26/the-gospel-of-greed-how-sardar-biglari-paid-himself-34-million-despite-lousy-fund-returns/ Wow, sounds like he's achieving everything he's ever dreamed of. Good for him! Link to comment Share on other sites More sharing options...
innerscorecard Posted October 27, 2015 Share Posted October 27, 2015 I enjoyed the letter. The crux of the matter for BH shareholders: "In Matthew 6:21 Jesus said: "For where your treasure is, there will your heart be also." My treasure and heart are in TLF." Link to comment Share on other sites More sharing options...
OracleofCarolina Posted October 27, 2015 Share Posted October 27, 2015 http://www.sec.gov/Archives/edgar/data/875355/000141588915003503/sc13da.htm Biglari asking for 2 board seats with ISIG...btw, they report tomorrow Link to comment Share on other sites More sharing options...
peridotcapital Posted October 28, 2015 Share Posted October 28, 2015 http://nypost.com/2015/10/22/maxim-editor-ousted-after-failed-luxury-magazine-relaunch/ So Kate executed the exact plan that Sardar wanted, it failed, and she gets fired. I thought she did a very good job based on what the strategy was. What a disaster. Link to comment Share on other sites More sharing options...
TwoCitiesCapital Posted October 28, 2015 Share Posted October 28, 2015 http://nypost.com/2015/10/22/maxim-editor-ousted-after-failed-luxury-magazine-relaunch/ So Kate executed the exact plan that Sardar wanted, it failed, and she gets fired. I thought she did a very good job based on what the strategy was. What a disaster. “Biglari is upset that he is not seeing the return on his investment fast enough, and is forcing change. He wants the old Maxim back so he can meet the girls in the edit,” said an insider. But insiders said he has no knowledge of how to run a media company and he often clashed with those who did. Biglari did not return a call seeking comment. This article seems to support what others have said in other articles. I've been watching BH the past year or so - so far, I'm glad I haven't gotten involved with the company. SB sounds like a real arrogant skeez. Link to comment Share on other sites More sharing options...
awindenberger Posted October 28, 2015 Share Posted October 28, 2015 http://nypost.com/2015/10/22/maxim-editor-ousted-after-failed-luxury-magazine-relaunch/ So Kate executed the exact plan that Sardar wanted, it failed, and she gets fired. I thought she did a very good job based on what the strategy was. What a disaster. Do we know for sure that it wasn't Kate's vision that they were all behind back in the spring? Based on comments made about Sardar's supposed interest in the models at shoots, I doubt he was the one that suggested putting the guy on the August cover. That said, I liked the direction Kate was taking the magazine, so I'm def surprised she was let go so quickly. Link to comment Share on other sites More sharing options...
BTShine Posted November 8, 2015 Share Posted November 8, 2015 Q3 10-Q Filed on Saturday: http://www.sec.gov/Archives/edgar/data/93859/000092189515002388/form10q07428007_11062015.htm Link to comment Share on other sites More sharing options...
WideMoat Posted November 8, 2015 Share Posted November 8, 2015 The Q says: "On July 1, 2015, The Lion Fund II, L.P. completed a tender offer for common stock of Biglari Holdings. The Lion Fund II, L.P. purchased 616,312 shares at a purchase price of $420.00 per share in cash. As a result of the tender offer, Mr. Biglari beneficially owns approximately 49.5% of the outstanding common stock." Although there is some humor in this inaccuracy, I wonder whether it should be read instead as prophecy. Link to comment Share on other sites More sharing options...
CalvinL Posted November 8, 2015 Share Posted November 8, 2015 The Q says: "On July 1, 2015, The Lion Fund II, L.P. completed a tender offer for common stock of Biglari Holdings. The Lion Fund II, L.P. purchased 616,312 shares at a purchase price of $420.00 per share in cash. As a result of the tender offer, Mr. Biglari beneficially owns approximately 49.5% of the outstanding common stock." Although there is some humor in this inaccuracy, I wonder whether it should be read instead as prophecy. I was wondering why they put "Mr. Biglari beneficially owns..." instead of "Mr. Biglari controls the voting right of..." Link to comment Share on other sites More sharing options...
BTShine Posted November 8, 2015 Share Posted November 8, 2015 I believe that's how they alway write it in SEC filings. I wouldn't read into it too much. At this point he definitely doesn't own 49.5% of the company, but he could a long way into the future (particularly if the stock's returns are much better than average). Link to comment Share on other sites More sharing options...
awindenberger Posted November 8, 2015 Share Posted November 8, 2015 The Q says: "On July 1, 2015, The Lion Fund II, L.P. completed a tender offer for common stock of Biglari Holdings. The Lion Fund II, L.P. purchased 616,312 shares at a purchase price of $420.00 per share in cash. As a result of the tender offer, Mr. Biglari beneficially owns approximately 49.5% of the outstanding common stock." Although there is some humor in this inaccuracy, I wonder whether it should be read instead as prophecy. This is how the SEC filings always read. "Beneficially owns" can means indirect ownership of, or simply voting control over, the stock in question. Link to comment Share on other sites More sharing options...
carson Posted November 18, 2015 Share Posted November 18, 2015 FWIW, BCC Form 13F: http://www.sec.gov/Archives/edgar/data/1334429/000092189515002558/xslForm13F_X01/infotable.xml 9/30/15 FASTENAL CO COM 311900104 14,919 407,500 SH DFND 1,2 407,500 0 0 vs. 6/30/15 FASTENAL CO COM 311900104 3,290 78,000 SH DFND 1,2 78,000 0 0 Link to comment Share on other sites More sharing options...
CalvinL Posted November 24, 2015 Share Posted November 24, 2015 This picture alone is worth $30 Million! Top model, Monte Carlo...I wonder if he charges Maxim for posing as a model himself lol http://www.maxim.com/sites/default/files/styles/article_gallery/public/editor/2015/11/209_1215_alessandra_sl9.jpg Enjoy the whole slideshow here: http://www.maxim.com/women/models/article/alessandra-ambrosio-maxims-december-cover-girl-2015-11 My comment wasn't really talking about the Maxim turnaround at all. I don't expect anything out of Maxim (especially a turnaround in a dying business model), however this round of bad press only reinforces what I already knew about Sardar. He wants to have his hand in everything. Based on the evidence, I'd imagine he's the same way with First Guard. I've watched BH with interest for years. It's not cheap enough for me to overlook Sardar's shortcomings. Maybe one day it will be. Purposeful word choice given that there are articles indicating that he's trying to sketch out on the models that come in for photoshoots? Link to comment Share on other sites More sharing options...
innerscorecard Posted November 24, 2015 Share Posted November 24, 2015 I can see why Kate Lanphear quit. Link to comment Share on other sites More sharing options...
OracleofCarolina Posted November 24, 2015 Share Posted November 24, 2015 Sardar is most likely giving Maxim another couple of months before he either pulls the plug and sells ...or considers it a viable business. He probably is thinking let me at least get in the mag with the models before I dump it off. Link to comment Share on other sites More sharing options...
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