Biglari calls for sale of Cracker Barrel


With the handling of the Duck Dynasty controversy (in which the company removed from its shelves products with Phil Robertson's face on them, only to hastily reverse itself) the latest example of inept management, Sardar Biglari urges Cracker Barrel's (CBRL) board to consider a sale of the company.

An owner of 20% of the shares, Biglari himself would like to submit a bid, but Tennessee law restricts this activity, and he asks the Board to support his effort to amend this law.

As an alternative to a sale, Biglari suggests a large share repurchase, and that he would tender his own holdings. "We would not want to leave our money in your care."

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Comments (9)
  • $CLU
    , contributor
    Comments (265) | Send Message
     
    Then sell your shares! Enough with the public whining.
    We'll buy the dip you create and make a profit for the year.
    Let us know of your other securities that get your "panties" in a twist and we'll profit of those as well.

     

    Sheesh!
    24 Dec 2013, 08:39 AM Reply Like
  • Devlin McGregor
    , contributor
    Comments (129) | Send Message
     
    Biglari is a joke. Absolutely sell your shares. "We would not want to leave our money in your care." Well why did you buy 20% of the shares in the first place if you felt this way? Now you essential just want to rob the company to pay for your mistake Biglari.
    24 Dec 2013, 08:59 AM Reply Like
  • bigvee49
    , contributor
    Comments (10) | Send Message
     
    Biglari....Sell,Sell,Sell ......in fact being that its Xmas why not give us your shares? Love this company
    24 Dec 2013, 09:40 AM Reply Like
  • TAS
    , contributor
    Comments (3917) | Send Message
     
    I think Cracker Barrel represents great value and plates a nice variety of reasonably well prepared entrees and sides. The restaurants are crowded at breakfast and at dinner - lots of turned tables on a daily basis.

     

    The stock is not a compelling buy, and management may not be optimizing shareholder value. Maybe it is better restaurant to frequent than buying as an investment..

     

    I am not willing to put my money where my mouth is :)
    24 Dec 2013, 12:32 PM Reply Like
  • jumpnjoey77
    , contributor
    Comments (1207) | Send Message
     
    He is trying to buy more shares.
    24 Dec 2013, 02:09 PM Reply Like
  • legalhunter100
    , contributor
    Comment (1) | Send Message
     
    Sure sell. why would you want a stock that "only" gives you a 70% + return ytd plus 3% dividend?
    24 Dec 2013, 05:12 PM Reply Like
  • RJM2
    , contributor
    Comments (1087) | Send Message
     
    Is he trying to egg mgmt. on to offer to buy him out again ?

     

    Im not sure he could get financing and Im not sure its worth a 15-20% premium to anyone.

     

    BH shares would go a lot higher if he cashed out at $110+.
    24 Dec 2013, 09:42 PM Reply Like
  • hobo77
    , contributor
    Comments (2) | Send Message
     
    I agree with Biglari. CBRL's management flip flopped because of the bottom line. I have been eating there three or four times a month, but will find another place to eat. I want to support someone who believes what the Bible says, "love the sinner, but hate the sin." The Duck Commander was talking about people living in sin, and was quoting what the Bible states.
    25 Dec 2013, 08:28 PM Reply Like
  • xlchill@aol.com
    , contributor
    Comments (9) | Send Message
     
    I would not want my money in Biglaris care and I plan to enjoy a nice breakfast in the morning at cracker barrel with great coffee and scrambled eggs that did not come out of a carton or jug.
    26 Dec 2013, 04:13 PM Reply Like
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