It recommended a short, but, seemed to me to miss one of the primary reasons, i.e., that a kid at the helm with no track record thinks he is the second coming of Warren Buffett, just without the intellect, foresight (he bought SNS at 18) or integrity. Other than that, it is a slam dunk.

Rather the report sees beyond this year DECLINING earnings for SNS. It seems to think that about 40 cents is the run-rate, although I am saying this for memory, and will check again. It believes that a lot of the increase in earnings was from declining commodity costs, which will be going back up. And, which is the point I agree with most, is that there simply are TOO MANY casual dining chains in the US fighting over a smaller share of the consumer wallet, and that SNS offers food that is the same or lower quality as premium offerings from quick service chains at higher cost. I would add that it is a dying concept. The old Midwesterners are going to by dying off like flies and there goes Chrysler and SNS.

But, that's right. Why worry? SNS is going to be an insurance company.