The Steak N Shake Company(SNS) filed an 8-k this afternoon disclosing that it has amended its credit agreement to “permit the Company to use up to $10.0 million of surplus cash to make investments of any lawful nature, so long as no event of default exists.” In addition, the Company has granted “Chief Executive Officer, Sardar Biglari, full… Read More »
Image via Wikipedia In February 2007(sadly one of our more recent posts), we wrote about Matrixx(MTXX) Initiatives. At the time, Jove Partners had filed a 13D urging a sale of the company. Jove noted at the time that the company’s single brand would benefit from the scale of being part of a larger company. At the time, we… Read More »
Image via Wikipedia What an inopportune time to be away! What more inelegant time has there been for investors than the last 16 months? In our absence, many icons of the American economy have been transformed from gleaming towers of prosperity to piles of twisted, rusting rubble. Yet amongst the ashes, there are diamonds aplenty. Now is the… Read More »
From the description of Disney-MGM Studios’ Twilight Zone Tower Of Terror: Board a phantom elevator, shoot up 13 stories and brace yourself for a thrilling plummet… but beware! The experience just got scarier. You rocket back up, only to plummet down yet again. You dare to ride once more, but wait! That’s not what happened before. That’s right,… Read More »
Last Friday, Geoff Gannon wrote briefly about his positive opinion on Hanes Brands(HBI). Gannon noted “I’ve yet to find someone who agrees with me on Hanes. I’m not sure if that’s a good sign or a bad sign.” Well, I’m not sure if it’s a good sign or a bad sign either, but I’ll throw my hat in… Read More »
“Gluttony is good”, a modern Gordon Gekko might have said, in reference to the triumphant return of the coveted mustard belt to America. Joey Chestnut, paying no heed to rising beef prices, managed to consume, quite conspicuously, 66 hot dogs in 12 minutes. Like many former high-flyers, defending six-time champion Takeru Kobayashi suffered from a late ‘reversal’, and… Read More »
I always imagined that I’d be a subscriber to a print edition of my daily newspaper long after it passed from normal to weird to quaint. I don’t have milk or ice delivered, nor did I use cloth diapers, but the experience of retrieving the morning paper from my front steps and the feel of the paper in… Read More »
In Warren Buffett’s 2006 annual letter to Berkshire Hathaway shareholders, released today, he comments on two different struggling industries. One, he believes, will once again see great days. The other, is doomed to growing irrelevance and shrinking profitability. Though Buffett was rumored to be a buyer of newspapers, perhaps by desperate sellers who hoped he might be, he… Read More »
Matrixx Initiatives(MTXX) believes that its Zicam line of homeopathic cold remedies will relieve your cold symptoms. Jove Partners believes that it knows how to solve Matrixx’s own ailments: a sale of the company to a strategic investor. Jove filed a 13D today, disclosing a 5.1% ownership stake and declaring that The Reporting Persons appreciate the job that management… Read More »
Recently, Jove Partners disclosed a 5.2% stake in Lifetime Brands(LCUT). In its 13D filing, Jove reported that: The Reporting Persons believe that the Issuer would benefit from additional marketing and industry expertise on its board of directors, and have suggested individuals for consideration by the board. Lifetime CEO Jeffrey Siegel was quoted as saying “Jove Partners is a… Read More »