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Steak n Shake CEO woos investors in New York City

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Steak n Shake Co. doesn't operate a single restaurant in New York City, where it is hosting its annual meeting Thursday.

But the world financial capital is chock full of high-profile investors intrigued by CEO Sardar Biglari's plans to harvest cash from the 485-location restaurant chain and deploy it on other investments.

Biglari has gained credibility from a rapid turnaround of the struggling restaurant chain and its conversion into a holding company for a diverse portfolio of investments. Steak n Shake Co. acquired Western Sizzlin, another chain Biglari controlled, and has made a bid for a small Michigan insurance company.

A key item up for a vote at the annual meeting, at the tony St. Regis hotel, is whether to change the name of the publicly traded company to Biglari Holdings Inc., to better reflect its ownership of more than just the steakburger-focused restaurant chain.

Biglari already has moved the parent company's headquarters to San Antonio, where his Lion Fund hedge fund is based. The subsidiary company Steak n Shake Operations Inc. still has its operations in downtown's Century Building.

IBJ is covering the meeting live in New York City. For up-to-the-minute updates, follow IBJNews on Twitter and check back at IBJ.com.

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  • You recent TV ad
    As a Roman Catholic I resent your use of Sacred Church music to promote your products.
    Shame on you! I stopped going to Hardees because of their tastless ads and you will blacklist you also.
  • Marketing
    To the CEO of Steak and Shake. I'm a fanantic user of one of Steak and Shakes products. I beleive this product could be and should be the greatest and what could be a very porofitable marketing items you have today. I'm a stay at home father who prepares luch AND dinner for my family each and everyday. I purchased this item from one of your local establisments and use it in just about every dish I prepare. They LOVE the addition to their food! I believe I can help Steak and Shake market this product to outside companies and enhance and expand the quality of thier product by using your "special" product I use. In doing so, I beleive in a increase of company profitablity to both Steak and Shake and ventured companies. Please contact me to discuss. As a consumer of one of your most unbelievable products in just about every dish I prepare for my family and friends, Steak and Shake could be missing it's focus across America. I believe I can help Steak and Shake market this product and expand its profits across America and possibly around the world.

    Thank you,
    Scott Headrick
    702-343-9643

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