UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. 4)*

The Steak n Shake Company

(Name of Issuer)

(Title of Class of Securities)

(CUSIP Number)

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

o Rule 13d-1(b)
þ Rule 13d-1(c)
o Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

     Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications:

Janice V. Sharry, Esq.
Haynes and Boone, LLP
2323 Victory Avenue, Suite 700
Dallas, Texas 75219-7673
(214) 651-5562

 

 

CUSIP No.		857873-10-3

CUSIP No.		857873-10-3

Item 1.

(a)

Name of Issuer

          The Steak n Shake Company

(b)

Address of Issuer’s Principal Executive Offices

          36 S. Pennsylvania Street, Suite 500, Indianapolis, Indiana 46204

Item 2.

(a)

Name of Person Filing

          This statement is jointly filed by and on behalf of each of MSD Capital, L.P. and MSD SBI, L.P. MSD SBI was the owner of the securities covered by this statement. MSD Capital is the general partner of MSD SBI and may be deemed to beneficially own securities owned by MSD SBI. MSD Capital Management LLC is the general partner of MSD Capital and may be deemed to beneficially own securities owned by MSD Capital. Michael S. Dell is the controlling member of MSD Capital Management and may be deemed to beneficially own securities owned by MSD Capital Management. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, the beneficial owner of any securities covered by this statement.

(b)

Address of Principal Business Office or, if none, Residence

          The address of the principal business office of each reporting person is 645 Fifth Avenue, 21st Floor, New York, New York 10022

(c)

Citizenship

          See Item 4 on the cover page(s) hereto.

(d)

Title of Class of Securities

          Common Stock

(e)

CUSIP Number

          857873-10-3

Item 3.		If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is:

	(a)		o           A Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o).
	(b)		o           A Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).
	(c)		o           An insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c).
	(d)		o           An investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
	(e)		o           An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
	(f)		o           An employee benefit plan or endowment fund in accordance with §240.13d- 1(b)(1)(ii)(F);
	(g)		o           A parent holding company or control person in accordance with §240.13d- 1(b)(1)(ii)(G);
	(h)		o           A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
	(i)		o           A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the                Investment Company Act of 1940 (15 U.S.C. 80a-3);
	(j)		o           A group, in accordance with §240.13d-1(b)(1)(ii)(J).

Item 4. Ownership.

	(a)		Amount beneficially owned: See Item 9 on the cover page(s) hereto.
	(b)		Percent of class: See Item 11 on the cover page(s) hereto.
	(c)		Number of shares as to which such person has:

	(i)		Sole power to vote or to direct the vote: See Item 5 on the cover page(s) hereto.
	(ii)		Shared power to vote or to direct the vote: See Item 6 on the cover page(s) hereto.
	(iii)		Sole power to dispose or to direct the disposition of: See Item 7 on the cover page(s) hereto.
	(iv)		Shared power to dispose or to direct the disposition of: See Item 8 on the cover page(s) hereto.

Item 5. Ownership of 5% or Less of a Class.

          If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following þ.

Item 6.		Ownership of More than 5 Percent on Behalf of Another Person Not Applicable

Item 7.		Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. Not Applicable

Item 8.		Identification and Classification of Members of the Group Not Applicable

Item 9.		Notice of Dissolution of Group Not Applicable

Item 10. Certifications

     (a) Not Applicable

     (b) By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

SIGNATURE

     Each reporting person certifies that, after reasonable inquiry and to the best of such reporting person’s knowledge and belief, the information set forth in this statement is true, complete and correct.

		MSD Capital, L.P.
		By:		MSD Capital Management LLC
		Its:		General Partner
		By:		/s/ Marc R. Lisker
		Name:		Marc R. Lisker
		Title:		Manager and General Counsel
		Date:		February 17, 2009
		MSD SBI, L.P.
		By:		MSD Capital, L.P.
		Its:		General Partner
		By:		MSD Capital Management LLC
		Its:		General Partner
		By:		/s/ Marc R. Lisker
		Name:		Marc R. Lisker
		Title:		Manager and General Counsel
		Date:		February 17, 2009

EXHIBIT INDEX

Exhibit		Description of Exhibit
99.1		Joint Filing Agreement (incorporated herein by reference from Exhibit A to the Schedule 13G relating to the common stock of the issuer filed April 11, 2003 by the reporting person(s) with the Commission)