British Retailer Tesco Indicates it Will Be Selling Its Fresh & Easy Stores

On January 31, 2013, Fresh & Easy parent company Tesco said it was looking at "strategic options" for its money-losing U.S. based Fresh & Easy Neighborhood Market stores.

We all pretty much knew where that was going...when you have a business segment that is losing $250 million a year, there was little doubt that Tesco would be leaving the U.S. market.

But that does not mean...yet, at least...that Tesco is shutting down Fresh & Easy. In a posting on the Fresh & Easy website today, the store indicated "As many of you have heard or read today, our parent company Tesco updated on the future of Fresh & Easy.  While we don’t yet know who our new owner will ultimately be, Tesco has already received interest from a number of parties including groups looking to purchase Fresh & Easy as an operating business.  We appreciate all the support and love we’ve received from our loyal customers and even though our parent company plans to leave the US, we’re pleased to confirm there are no plans to close any portion of Fresh & Easy."

So what Tesco and Fresh & Easy indicated today is that 1) Tesco is indeed exiting the U.S. market; 2) there are a number of potentially interest parties who may acquire the Fresh & Easy chain; and 3) there are no current plans to "close any portion of Fresh & Easy."

As part of today's announcement, Tesco said it is treating Fresh & Easy as a "discontinued operation" and as such, has written down the value of Fresh & Easy assets and future anticipated liabilities on its books...to the tune of £1.2 billion...which is approximately $1.8 billion in U.S. dollars. OUCH. The $1.8 billion loss includes roughly $257 million in operating losses, with the remainder the write-down in assets and estimate future lease costs.

That's gotta hurt a bit. Tesco is a British company but its stock also trades on Nasdaq under symbol TESO, which was down 3.3% today, over double what the S&P 500 was down today.

In any case, best of luck to the Fresh & Easy chain in finding a buyer and figuring out a way to generate a profit. There are 10 Fresh & Easy stores in Ventura County and directly adjacent areas.

Lastly, I heard what I found to be quite an odd Fresh & Easy commercial on the radio this morning that is posted below. Very unusual, kind of surprising use of the shortened "f&easy" - a bit risque if ya ask me :)

POWERBALL® Lottery Coming to California Beginning April 8, 2013

The California Lottery Commission voted on November 29, 2012 to adopt the multi-state mega-jackpot lottery game, POWERBALL. POWERBALL sales will begin in California on April 8, 2013 and the first draw will take place on April 10th.

This vote came the day after POWERBALL's largest jackpot ever, $587.5 million, won by two players (one from Missouri and the other in Arizona).

POWERBALL is expected to add anywhere between $50 to $100 million in additional dollars to supplement public education funding in California.

The $2 POWERBALL game is played much like the $1 MEGA Millions®. Players choose five numbers from 1 to 59 and one red POWERBALL number from 1 to 35. Players can choose their own numbers or opt for a Quick Pick. Draws are held every Wednesday and Saturday at 7:59 p.m. PST.

Unlike MEGA Millions and SuperLotto Plus®, POWERBALL’s pool closure occurs promptly at 7 p.m. PST each draw day. Besides the jackpot, there are eight additional ways to win prizes. The amounts vary due to the State’s pari-mutuel rules. The POWERBALL draws take place in Tallahassee, Florida.

The POWERBALL jackpot begins at $40 million and increases by at least $10 million every roll. In comparision, the MEGA Millions jackpot starts at $12 million.

The odds of winning the POWERBALL jackpot are 1 in 176 million and about 1 in 32 of winning any prize. In comparison, the odds of winning the MEGA Millions jackpot is also 1 in 176 million and about 1 in 40 of winning any prize in the semi-weekly drawing.  So basically the odds are very similar. The main difference is the price of the tickets; $1 for MEGA Millions vs $2 for POWERBALL.

CLICK HERE for information about other CA Lottery games.

The mission of the California Lottery is to provide supplemental funding to California schools while simultaneously supporting local communities. More than 94 cents of every dollar spent by our players goes back to local communities in the form of contributions to public schools and colleges, prizes and retail compensation. Since 2000, Lottery players have contributed $1 billion to public schools each year, and, since we began in 1985, Lottery players have contributed a total of more than $24 billion to education. The California Lottery urges its customers to play responsibly and within their budgets. If you feel you have a gambling problem, or know someone who does, you can get help at 1-800-GAMBLER.

Visit www.calottery.com for more information.

Thousand Oaks Civic Arts Plaza Seeks Input on its 20th Anniversary Season!

October 2014 will mark the 20th Anniversary of the grand opening of the Thousand Oaks Civic Arts Plaza. This special Anniversary season will be comprised of command performances by artists who have appeared on the Civic Arts Plaza stages over the last 20 years and we need your help.

Visit www.surveymonkey.com/s/tocap_20 and select the artists that you would most like to see return to the Civic Arts Plaza during its 20th Anniversary Season by choosing up to 5 favorites in each category.

Do check out this survey! You will be amazed at how many popular performers have appeared here in the Conejo Valley! Some of the names you'll see include comedians like Bill Cosby, Don Rickles, John Cleese, Bob Newhart, Howie Mandel and musicians such as Kenny Loggins, Crosby, Stills and Nash, Chris Botti, Cheryl Crow, Bonnie Raitt, and over 100 others.

If an artist you select is added to the 20th Anniversary schedule, you will be eligible to win two front row seats and an opportunity to go backstage to meet the artist.* All entries are due by Thursday, May 30, 2013 at 4:00 PM.

*Winner will be chosen at random among all eligible entries. One entry per person.

To learn more about the Civic Arts Plaza or perhaps buy tickets to an upcoming show, visit www.CivicArtsPlaza.com or visit their Facebook page at www.facebook.com/civicartsplaza.

The Greater Conejo Valley Chamber of Commerce Supports Local Business

The Greater Conejo Valley Chamber of Commerce is a member-driven, professionally-staffed nonprofit organization dedicated to supporting the region's business community in the communities of Thousand Oaks (including Newbury Park), Westlake Village and Agoura Hills.

There are approximately 1,400 business and professional firm memberships in the Chamber, making it one of the largest chambers in California. It provides a range of opportunities, services, benefits and resources to local businesses looking to network and grow in the community. There are networking groups, committees, mixers, brown bag educational sessions, promotional opportunities and more.

To learn more about the chamber, visit www.conejochamber.org or call 805.370.0035. The Greater Conejo Valley Chamber of Commerce is located at 600 Hampshire Road, Suite 200, Westlake Village (at the Townsgate intersection).

Snow on the Santa Susana Mountains this Brisk Wednesday, February 20th

Marcella Ketelhut of local Los Robles Hills Winery grabbed her camera for some shots of snow blanketing the Santa Susana Mountains today after last nights brief storm. This was a rare and welcome sight this winter season in the Conejo Valley.

Snow means skiing! Click HERE for several local ski clubs in the Conejo Valley/Ventura County area!