Jewel parent says sale talks proceeding

Exterior of Jewel-Osco's first "Green Store" located at 370 N. Desplaines in Chicago. (Antonio Perez / November 29, 2012)

By Emily Bryson York




Chicago Tribune reporter

6:51 a.m. CST, November 30, 2012

Supervalu, the Minneapolis-based parent of Jewel-Osco said sale talks are proceeding after stock closed down more than 18 percent Thursday, to $2.28.

The beleaguered grocery chain was likely moving to combat reports that sale talks with suitor Cerberus Capital Management had stalled over funding.

"The company continues to be in active discussion with several parties," according to the statement. "There can be no assurance that this process will result in any transaction or any change in the Company's overall structure or its business model."

Supervalu, the third-largest U.S. grocery chain, has acknowledged sale talks since the spring. The company has been closing stores and cutting jobs as it has underperformed competitors like Dominick's parent Safeway and Kroger.

If Supervalu does not sell to Cerberus, it may have to restructure on its own or sell off individual assets, which could have big tax consequences, Bloomberg said.

Reuters reported last month that buyout firm Cerberus was preparing a takeover bid for Supervalu, the third-largest U.S. supermarket chain.

Cerberus officials could not be reached immediately for comment.

-- Reuters contributed to this report

In addition to Jewel, Supervalu owns Albertsons, Cub and other regional grocery chains.

SVU data by YCharts

SVU data by YCharts

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Missouri Powerball winner verified; Arizona's a mystery

Sometimes it's better to dream, particularly when reality means you're not an instant multimillionaire.

Bob Kangas realized Wednesday night that one of two winning Powerball jackpot tickets — a record $587.5 million — had been bought in Arizona, but he didn't check his numbers.

"I didn't want to look because I just wanted to dream about being rich," Kangas said Thursday while checking his tickets at a 4 Sons Food Store in Fountain Hills, the suburban Phoenix shop where he bought his tickets — and where the winning ticket was sold.

While lottery officials in Missouri verified its state's ticket after it was presented to them late Thursday, the Arizona winner had yet to come forward. They have 180 days to do so.

A news conference is planned for this morning at 11 a.m. in Missouri. Officials declined to provide details of the winner in advance, not even whether the ticket sold at a Trex Mart gas station in Dearborn was purchased by someone from that state.

Kangas just wanted one night to believe he could soon have more money than he'd know what to do with.

"I just wanted to dream all night," he said, breathing a heavy sigh as he realized his tickets were not winners. "I'll try again."

In Missouri, speculation had many of Dearborn's 500 residents buzzing about who had won.

Cashiers Kristi Williams and Kelly Blount greeted customers with big smiles and questions about whether they had bought the winning ticket.

"It's just awesome," Williams said. "It's so exciting. We can't even work."

Karen Meyers, a server at the Cook's Corner Cafe, said she didn't believe it at first when she heard the winning ticket had been sold nearby.

"I think it's wonderful! I hope someone local won it, not someone just passing through," she said. "It's a small town where everyone is really nice."

Kevin Bryan bought his ticket at the Trex Mart and made an extra trip to his mother's home in Dearborn to verify that the ticket he left on her counter wasn't, in fact, the winner.

"When I heard it was sold here in Dearborn I about fell over," Bryan said, as he hung Christmas lights outside his mother's home.

He said the only other local lottery win he could remember was when an area farmer won about $100,000 in scratch-off game years ago "and bought himself a combine."

Baron Hartell, son of the owner of the Missouri store, said if the winner isn't a local resident it might have been a truck driver. Interstate 29 is a busy thoroughfare connecting Kansas City to the Canadian border.

"Even the truck drivers who come around, we see them every day, so they all feel like all locals to us," he said.

Store manager Chris Naurez said business had been "crazy" for Powerball tickets lately and that the store had sold about $27,000 worth of tickets in the last few days.

"This really puts Dearborn on the map," he said.

Trex Mart General Manager Kenny Gilbert suggested his staff would be sharing in the $50,000 bounty that the store will be awarded for selling one of the winning tickets.

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The Xbox 720 Is Coming Sooner Than Anyone Anticipated

After almost three years without an update, and with Windows 8 sales flailing, Microsoft will release a new Xbox just in time for Christmas next year, sources told Bloomberg’s Dina Bass and Ian King. Last year Microsoft had said that it wouldn’t release a new version of the gaming system “anytime soon,” with other sources talking up a date sometime in 2013 “at the earliest.” This new Christmas launch makes perfect sense for the video-game nerd anticipated “Xbox 720,” as the rumorers refer to it. An Xbox is one of those it toys that gets people lining up at 3 a.m. during holiday shopping craziness. Even the aging 360 console has managed to double the sales of the new Nintendo Wii so far this holiday season, according to numbers from the NDP Group. Microsoft hasn’t put out an entirely new console since 2005, which led to riots during Black Friday of that year.

RELATED: Foxconn Is Still a Hard Place to Work

And Microsoft needs a super-anticipated something, since Windows 8 sales fell so flat this year. After whispers that the new operating system wasn’t selling well, NDP research group found that sales fell 21 percent for new computers running Windows. The research group doesn’t measure sales from Microsoft stores or online, but Microsoft has said most of its sales come from third-party retailers like Best Buy anyway. Windows 8 tablet sales were almost “nonexistent” said the report, making up just 1 percent of all Windows 8 sales. Yeesh. However, Microsoft CEO Steve Ballmer has said he is playing the long game on this one, claiming that people will get used to the new look and when they do fall in love with it. Maybe the people will line up for Windows 8 next year, too? 

RELATED: Amazon’s New Cloud Music Player Is Great, But Is It Legal?

If not, though, the new Xbox sounds like an upgrade that will get gamers excited and buying. As for what exactly the gadget will look like, the rumorers say it will be cheaper and smaller than the 360, which retails starting at $ 300. In addition, it will have an udpated Kinect controller, a quad core processor, 8GB Ram, Blu-Ray, and augmented reality glasses, according to “leaked reports.” 

Gaming News Headlines – Yahoo! News

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Producer sues Pythons over ‘Spamalot’ royalties

LONDON (AP) — It’s no joking matter.

A producer of the film “Monty Python and the Holy Grail” is suing the British comedy troupe over royalties from the hit stage musical “Spamalot.”

Producer Mark Forstater wants a bigger share of proceeds from the show, which is based on the Pythons’ 1975 movie spoof of the legend of King Arthur.

Lawyers for Monty Python are contesting Forstater’s claim and will present their arguments later. Python members Eric Idle, Michael Palin and Terry Jones will give evidence during a five-day hearing that began Friday at London’s High Court.

Forstater is suing the trio and the two other surviving Python members, John Cleese and Terry Gilliam. The sixth member of the troupe, Graham Chapman, died in 1989.

Forstater’s lawyer, Tom Weisselberg, said that under an agreement made when the film was produced, “for financial purposes Mr. Forstater was to be treated as the seventh Python” and entitled to the same share of “Holy Grail” merchandising and spin-off income as the other members.

But the lawyer said Forstater had not received his fair share of royalties from the stage show, which has been a hit around the world. It ran on Broadway for almost four years to 2009 and is still playing in London’s West End.

Weisselberg said Forstater, who was declared bankrupt earlier this year, had been forced to go to court because of his “difficult financial circumstances.”

Entertainment News Headlines – Yahoo! News

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Hockey Coaches Defy Doctors on Concussions, Study Finds

Despite several years of intensive research, coverage and discussion about the dangers of concussions, the idea of playing through head injuries is so deeply rooted in hockey culture that two university teams kept concussed players on the ice even though they were taking part in a major concussion study.

The study, which will be published Friday in a series of articles in the journal Neurosurgical Focus, was conducted during the 2011-12 hockey season by researchers from the University of Western Ontario, the University of Montreal, Harvard and other institutions.

“This culture is entrenched at all levels of hockey, from peewee to university,” said Dr. Paul S. Echlin, a concussion specialist and researcher in Burlington, Ontario, and the lead author of the study. “Concussion is a significant public health issue that requires a generational shift. As with smoking or seat belts, it doesn’t just happen overnight — it takes a massive effort and collective movement.”

The study is believed to be among the most comprehensive analyses of concussions in hockey, which has a rate of head trauma approaching that of football. Researchers followed two Canadian university teams — a men’s team and a women’s team — and scanned every player’s brain before and after the season. Players who sustained head injuries also received scans at three intervals after the injuries, with researchers using advanced magnetic resonance imaging techniques.

The teams were not named in the study, in which an independent specialist physician was present at each game and was empowered to pull any player off the ice for examination if a potential concussion was observed.

The men’s team, with 25 players and an average age of 22, played a 28-game regular season and a 3-game postseason. The women’s team, with 20 players and an average age of 20, played 24 regular-season games and no playoff games. Over the course of the season, there were five observed or self-reported concussions on the men’s team and six on the women’s team.

Researchers noted several instances of coaches, trainers and players avoiding examinations, ignoring medical advice or otherwise obstructing the study, even though the players had signed consent forms to participate and university ethics officials had given institutional consent.

“Unless something is broken, I want them out playing,” one coach said, according to the study.

In one incident, a neurologist observing the men’s team pulled a defenseman during the first period of a game after the player took two hits and was skating slowly. During the intermission the player reported dizziness and was advised to sit out, but the coach suggested he play the second period and “skate it off.” The defenseman stumbled through the rest of the game.

“At the end of the third period, I spoke with the player and the trainer and said that he should not play until he was formally evaluated and underwent the formal return-to-play protocol,” the neurologist said, as reported in the study. “I was dismayed to see that he played the next evening.”

After the team returned from its trip, the neurologist questioned the trainer about overruling his advice and placing the defenseman at risk.

“The trainer responded that he and the player did not understand the decision and that most of the team did not trust the neurologist,” according to the study. “He requested that the physician no longer be used to cover any more games.”

In another episode, a physician observer assessed a minor concussion in a female player and recommended that she miss the next night’s game. Even though the coach’s own playing career had ended because of concussions, she overrode the medical advice and inserted the player the next evening.

According to the report, the coach refused to speak to another physician observer on the second evening. The trainer was reluctant to press the issue with the coach because, the trainer said, the coach did not want the study to interfere with the team.

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Jewel parent says sale talks proceeding

Exterior of Jewel-Osco's first "Green Store" located at 370 N. Desplaines in Chicago. (Antonio Perez / November 29, 2012)

By Emily Bryson York




Chicago Tribune reporter

6:51 a.m. CST, November 30, 2012

Supervalu, the Minneapolis-based parent of Jewel-Osco said sale talks are proceeding after stock closed down more than 18 percent Thursday, to $2.28.

The beleaguered grocery chain was likely moving to combat reports that sale talks with suitor Cerberus Capital Management had stalled over funding.

"The company continues to be in active discussion with several parties," according to the statement. "There can be no assurance that this process will result in any transaction or any change in the Company's overall structure or its business model."

Supervalu, the third-largest U.S. grocery chain, has acknowledged sale talks since the spring. The company has been closing stores and cutting jobs as it has underperformed competitors like Dominick's parent Safeway and Kroger.

If Supervalu does not sell to Cerberus, it may have to restructure on its own or sell off individual assets, which could have big tax consequences, Bloomberg said.

Reuters reported last month that buyout firm Cerberus was preparing a takeover bid for Supervalu, the third-largest U.S. supermarket chain.

Cerberus officials could not be reached immediately for comment.

-- Reuters contributed to this report

In addition to Jewel, Supervalu owns Albertsons, Cub and other regional grocery chains.

SVU data by YCharts

SVU data by YCharts

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Winning Powerball tickets sold in Arizona, Kansas City area

The winning numbers for the record Powerball jackpot were drawn Wednesday night. The numbers are 5, 16, 22, 23, 29 and Powerball 6. The jackpot rose to $579.9 million by the time of the drawing.

Tribune staff and wire report

9:22 a.m. CST, November 29, 2012

Two lucky ticket holders — one in Arizona and another in Missouri — are waking up Thursday to new lives as multimillionaires after the largest Powerball jackpot drawing ever.

Powerball officials said two tickets matched all six numbers to win the record $587.5 million jackpot. The numbers drawn for Wednesday night for the second-highest jackpot in U.S. lottery history are 5, 16, 22, 23, 29. The Powerball is 6.

It was not clear whether the winning tickets belonged to individuals or were purchased by groups.

One of the winning tickets was sold in the Kansas City area but the winner has yet to come forward, Missouri Lottery spokesman Gary Gonder said. The ticket holder has 180 days to claim the prize.

Gonder said he would visit the store that sold the winning ticket to help with an expected onslaught of media attention. No details on that store have been released.

Arizona lottery officials said early Thursday they had no information on the Grand Canyon State's winner or winners, but they planned to announce Thursday morning where the ticket was sold.

Americans went on a ticket-buying spree in the run-up to Wednesday's drawing, the big money enticing many people who rarely, if ever, play the lottery to purchase a shot at the second-largest payout in U.S. history.

Tickets were selling at a rate of 130,000 a minute nationwide — about six times the volume from a week ago. That pushed the jackpot even higher, said Chuck Strutt, executive director of the Multi-State Lottery Association.

Iowa Lottery spokeswoman Mary Neumauer said the jackpot was estimated at $587.5 million by early Thursday, adjusted slightly upward from the $579.9 million estimate at the time of the drawing. The cash payout was $384.7 million.

Among those who had been hoping to win was Lamar Fallie, a jobless Chicago man who said his six tickets conjured a pleasant daydream: If he wins, he plans to take care of his church, make big donations to schools and then "retire from being unemployed."

The jackpot had already rolled over 16 consecutive times without a winner.

Midwest

Hoosier Lottery officials say Indiana retailers sold two tickets that just missed on winning a share of the giant Powerball jackpot.

Lottery officials say those tickets worth $1 million were sold at convenience stores in Vincennes and Highland. Those tickets matched the first five numbers, but not the Powerball number.

In addition to the winning ticket, the Missouri Lottery said two $1 million winning Powerball tickets were also sold in the state-- one in Joplin and the other in Kansas City.

Tribune staff and the Associated Press contributed

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Lindsay Lohan arrested on assault charge in NYC

NEW YORK (AP) — Actress Lindsay Lohan was arrested Thursday after police said she hit a woman during an argument at a New York City nightclub.

The “Mean Girls” and “Freaky Friday” star was arrested at 4 a.m. and charged with third-degree assault.

She left a police precinct nearly four hours later with a black jacket pulled over her head. She was wearing leggings, a green mini skirt and high-heels, and drove off in a black SUV with a driver and another man who was seen going in and out of the precinct.

She allegedly got into the spat with another woman at Club Avenue, in Manhattan‘s Chelsea section. She struck the woman in face with her hand, police said. The woman did not require medical attention.

Lohan’s publicist did not immediately return a call for comment.

The arrest is Lohan’s latest brush with law enforcement in New York City.

She was involved in a NYPD investigation in September after alleging a man had assaulted her in a New York hotel, but charges against the man were later dropped.

Also in September, the actress was accused of clipping a man with her car outside another Manhattan nightclub, but prosecutors chose not to move ahead with charges.

In October, police were called to her childhood home on Long Island after a report of fight between her and her mother. An investigation revealed “no criminality.”

The actress was also involved in a car accident in California this summer that sent her and an assistant to a hospital, but didn’t result in serious injuries for anyone. The accident remains under investigation.

In May, she was cleared of allegations that she struck a Hollywood nightclub manager with her car.

Lohan remains on informal probation for taking a necklace from a jewelry store without permission last year. That means she doesn’t have to check in with a judge or probation officer but could face a jail term if arrested again.

Her latest film, “Liz & Dick,” in which she portrays screen icon Elizabeth Taylor, premiered on Lifetime on Sunday.

Lohan also recently filmed “The Canyons,” an indie film written by “Less Than Zero” and “American Psycho” author Bret Easton Ellis.

Entertainment News Headlines – Yahoo! News

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French court clears Continental in Concorde crash

French appeals court on Thursday absolved Continental Airlines of blame for a 2000 Concorde crash that killed 113 people and cleared a mechanic at the U.S. airline of the charge of involuntary manslaughter.

The verdict comes over a decade after the accident helped to spell the end of the supersonic airliner. A previous court ruled that a small metal strip that fell onto the runway from a Continental aircraft just before the Concorde took off from Paris, caused the crash.

Continental was originally fined 200,000 euros and ordered to pay the Concorde's operator, Air France, a million euros in damages. Continental appealed the verdict which it described as unfair and absurd.

Welder John Taylor was cleared of a 15-month suspended prison sentence for having gone against industry norms and used titanium to forge the piece that dropped off the plane.

Continental, now part of United Continental Holdings , had been ordered under the original ruling to pay 70 percent of any damages payable to families of victims. Airbus parent EADS would have to pay the other 30 percent.

The crash sped up the demise of the droop-nosed Concorde - the fastest commercial airliner in history and a symbol of Franco-British co-operation - as safety concerns coupled with an economic downturn after 9/11 drove away its wealthy customers.

The Air France Concorde, carrying mostly German tourists bound for a Caribbean cruise, was taking off from Paris on July 25, 2000 when an engine caught fire. Trailing a plume of flames, it crashed into a hotel near Charles de Gaulle airport. All 109 passengers and four people on the ground died.

After modifications, the plane returned to service but its operators, Air France and British Airways, retired it in 2003, citing high operating costs and a drop in demand.
 

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Powerball sales 'blistering' as jackpot hits $500 million

The Illinois Lottery says Powerball tickets are selling at a "blistering" pace as the jackpot reached $500 million.

Over a 30-minute period around the middle of the day Tuesday, the Illinois Lottery sold more than $200,000 in Powerball tickets across the state.

Lottery officials expected the pace of sales to increase even more ahead of tonight's drawing for the largest jackpot in Powerball history.

A $656 million Mega Millions jackpot set a world lottery record in March. That prize was split three ways. One of the winning tickets was held by Merle and Patricia Butler of Red Bud in southern Illinois. The retired couple took home nearly $119 million.

Powerball has not had a winner for two months, and the pot has already grown by nearly $175 million due to brisk ticket sales after no one won the top prize in Saturday's drawing.

The next drawing for the prize on Wednesday night would dish out a whopping $327.4 million and counting if paid as a lump sum. Alternatively, the $500 million can be paid out in an annuity over three decades.Powerball is sold in 42 states,Washington, D.C., and the U.S. Virgin Islands.

There have been nearly 300 jackpot winners over the past 20 years, taking home payouts of over $11.6 billion.

Among dreamers across the nation lining up at an Arizona grocery store in Tucson for a shot at Wednesday's prize was metal shop worker Errol Simmons, 54, entrusted with a list of lucky numbers by a dozen or so co-workers.

"I've got to get this right," he said as he checked through the list. "I don't want to be the guy who lost us half a billion dollars because I couldn't count.

"If we win, I'll buy a new truck," he said. "For each day of the week."

Looking sharp in a blue pin striped suit, Portland, Oregon, financial adviser Aaron Pearson, 36, said he was taking care to pick his own numbers for the first time - although he was unsure what he would do with the huge jackpot should he win.

"I have no idea. I'd invest it and live off of it. I'd give to charities. I'd start a foundation," he mused.

The chance of winning the jackpot are about one in 175 million, compared to about one in 280,000 for being struck by lightning.

Despite the long odds, the record payout has drawn interest from around the world, said Mary Neubauer, a spokeswoman for the Iowa Lottery, where Powerball is based. Lottery officials have received calls and emails from people outside the United States asking if they can buy a ticket from afar. They cannot.

"Sales across the country are just through the roof. It means lots of people are having fun with this, but it makes it difficult to keep up with the (jackpot) estimate."

The previous top Powerball prize of $365 million was won in 2006 by ConAgra slaughterhouse workers in Nebraska.

Associated Press and Reuters contributed

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