Parsad Posted February 16, 2012 Share Posted February 16, 2012 A couple of years ago, when Biglari Holdings decided to change its name from The Steak'n Shake Company to Biglari Holdings, I sent a letter on behalf of Corner Market Capital to the board of Steak'n Shake. We subsequently sold half our stake when they decided to change names regardless. I've attached the letter. At the time, as Steak'n Shake was based in Indianapolis, I used Peyton Manning and the Indianapolis Colts as an analogy. Interestingly enough, today the owner of the Colts is making hard choices based on practicality, price and the fact that he owns the Colts...not Peyton Manning. I'm a huge, huge Manning fan, but he didn't own the Colts and he doesn't deserve to be paid any sum he wants, nor did they ever rename the Colts after him. Cheers! http://sports.yahoo.com/blogs/nfl-shutdown-corner/jim-irsay-says-welcome-peyton-manning-back-price-051955332.htmlLetter_to_Steakn_Shake_-_January_31_2010.pdf Link to comment Share on other sites More sharing options...
stahleyp Posted February 16, 2012 Share Posted February 16, 2012 Since the letter was written, it looks like BH has barely beaten the S&P 500 and has returned quite a bit less than S&P 400 midcap. ;D Link to comment Share on other sites More sharing options...
TorontoRaptorsFan Posted February 16, 2012 Share Posted February 16, 2012 Time to ship Manning out of town. The problem is he's had 3 + neck surgeries in the last couple of years so who really wants to take a chance on him? It's time for the Andrew Luck or Robert Griffin era to begin in Indianapolis. Let the Jets take him. Mark Sanchez has a nice consolation prize in Kate Upton! ;D Link to comment Share on other sites More sharing options...
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