Togo's Returns to Arizona

To contact us Click HERE
The official grand opening is set for Saturday, August 18, but Togo's in Gilbert is now ready for business.  The AZFoodDude reported on the second coming of Togo's to the Valley back in January and now with the first location having opened at 1520 W. Guadalupe Rd. #101 Gilbert, AZ 85233, the franchisee has his sights set on opening two more Togo's restaurants in the Valley.  The hours for the restaurant are:

• Monday - Friday: 10am - 9pm
• Saturday: 10:30am - 7pm
• Sunday: 11am - 5pm

According to the press release, "To celebrate Togo's arrival in Arizona, two lucky Gilbert customers will win free sandwiches for one-year. Additionally, the local community is invited to attend the official Grand Opening all-day celebration, taking place on Saturday, August 18, 2012 with music, prizes, local fundraiser event and more!"

Read more here: http://www.sacbee.com/2012/06/12/4556141/togos-arrives-in-arizona-with.html#storylink=cpy"To celebrate Togo's arrival in Arizona, two lucky Gilbert customers will win free sandwiches for one-year. Additionally, the local community is invited to attend the official Grand Opening all-day celebration, taking place on Saturday, August 18, 2012 with music, prizes, local fundraiser event and more!
Source: PR Newswire (http://s.tt/1ecq1)To celebrate Togo's arrival in Arizona, two lucky Gilbert customers will win free sandwiches for one-year. Additionally, the local community is invited to attend the official Grand Opening all-day celebration, taking place on Saturday, August 18, 2012 with music, prizes, local fundraiser event and more!
Source: PR Newswire (http://s.tt/1ecq1)To celebrate Togo's arrival in Arizona, two lucky Gilbert customers will win free sandwiches for one-year. Additionally, the local community is invited to attend the official Grand Opening all-day celebration, taking place on Saturday, August 18, 2012 with music, prizes, local fundraiser event and more!
Source: PR Newswire (http://s.tt/1ecq1)
Togo's, which is based in San Jose, CA and first opened in 1967, is known for their "West Coast" hot or cold sandwiches, but also offers up soups, salads, chips, cookies, and brownies.  You can check out the full Togo's menu here.

Subway's July $5 Featured Footlong - Buffalo Chicken

To contact us Click HERE
In the event you don't think it's hot enough this time of year, Subway is giving us that extra kick with July's $5 featured footlong.  The Buffalo Chicken sandwich, which is now back on Subway's menu for good, has "......tender, juicy chicken tossed in a bold buffalo sauce with crisp green peppers and cool, creamy ranch on freshly baked bread."  

In terms of nutrition, you can check out this Subway site and calculate how many calories, fat, protein, etc. will be in the sandwich based on how you have your sandwich made.

Dairy Queen's July Blizzard of the Month - Chocolate Candy Shop

To contact us Click HERE
Last month, Dairy Queen gave us the Turtle Brownie Blizzard.  This month however, Dairy Queen is switching things up with their new Chocolate Candy Shop Blizzard.  The Chocolate Candy Shop Blizzard is made of cocoa fudge, vanilla soft serve, and chocolate pieces filled with hazelnut creme, fudge, and caramel. 

The nutritional information for a medium Chocolate Candy Shop Blizzard includes 960 calories, 44 grams of fat (24 saturated), 108 grams of sugar, and 19 grams of protein.

Tucson's Legendary Zachary's Pizza is Closing

To contact us Click HERE
Echoing the sentiments of Tucson Weekly, which broke the story, the AZFoodDude is sad to learn that Zachary's Pizza is closing on August 1.  There is not a lot of news officially as to why the Tucson staple is closing, but it is almost assuredly because business has been rough in an economy that continues to sputter.  A Facebook post by the restaurant on June 24 gives us a clue, "We will be cash only for a bit longer.  Please help support our business.  Summer has not been kind."

Like many folks, I was brought to Zachary's by friends of mine during a visit to Tucson.  It was after that first visit that I then introduced other friends of mine in the Valley to Zachary's incredible deep dish Chicago style pizza.  The place is so good that we have made the drive from Phoenix to Tucson just for Zachary's pizza on multiple occasions.  Now, that might sound like a long drive but employees of Zachary's will tell you of folks from all over who specifically stop for their pizza, including some regulars from New Mexico.

Near the UofA campus, now is a good time for those who want one last slice and for those who've never had the opportunity to see what all the fuss is about, to experience the hole-in-the-wall charm and head over to Zachary's.  The hours are 4pm - 10pm on Monday, 11am - 10pm Tuesday - Thursday, 11am - 11pm on Friday, noon - 11pm on Saturday and noon - 10pm on Sunday.

Review and Giveaway: Money Saving Mom's Book!

To contact us Click HERE

I received an early copy of the book The Money Saving Mom's Budget by Crystal Paine. I have subscribed to Crystal's blog, moneysavingmom.com, since before I started my blog several years ago, so I really wanted to read her first book!

Crystal is a young mom who is committed to living without debt and teaching others how to do the same. Her blog is practical and has encouraged countless numbers of people to learn how to live on less and give more. I am one of those people! :-)

Her book starts by talking about why you need to organize your home and life in order to save time and money. She walks you through setting reachable goals, determining priorities, making a budget for both your time and your money, and getting rid of clutter. The rest of the book is filled with practical ways you can save even more. And if you think it is all about coupons, you'd be wrong! There are lots of ways to "slash your spending, pay down your debt, streamline your life, and save thousands a year" (the tagline from her book!)

The Money Saving Mom's Budget is a very easy read. Throughout the book there are very short testimonials and ideas from many other people who have implemented some of these tips or have saved or earned money in a creative way. Even though I have been reading Crystal's blog for several years, there were some new things that stood out to me that I need to implement. I really think there is something for everyone in this book because of all the golden nuggets of wisdom woven throughout!

You can pre-order your copy of The Money Saving Mom's Budget and it will be sent out to you as soon as it releases in January. Christmas gift idea, anyone? ;-) And one other thing, Crystal is donating ALL the proceeds from her book sales to Compassion International. Isn't that great?!?

Want to win one? You have seven chances to enter! The first one is required because I need to be able to contact you if you win. Be sure to leave a separate comment for each entry, as this will increase your chances of winning. If you are reading this in a reader or in your email, you will have to click here to leave a comment on the post for your entry.

1. Leave a comment with your email. Do you read Money Saving Mom's blog? (Feel free to leave your email in a format like myname at gmail dot com to discourage spammers.)

2. Subscribe via email or RSS reader. Leave a separate comment that you are a subscriber. I love my subscribers! If you are new, welcome!

3. Follow my blog with Google Friend Connect. Look for the lovely pictures of others on the right side of my blog, add yours, and then leave a separate comment.

4. Follow me on Twitter (@MomForHim) and tweet this giveaway with a link to this page. Include @MomForHim in your tweet. Then leave a comment!

5. Post this giveaway on Facebook with a link to this page so your friends can enter too! Then leave a comment saying you did so!

6. Grab my button. Put my button on your blog and leave a comment with your blog's address for another entry! You can find the code to cut and paste on my right sidebar.

7. Blog about this giveaway. Post a link to this giveaway on your blog and leave a comment with the address directly to your blog's entry.

This giveaway will close on Saturday, December 31st at midnight and I will select one winner using Random.org.

*I received an advance copy of the book to facilitate my review. All opinions are my own.

Review and Giveaway: Money Saving Mom's Book!

To contact us Click HERE

I received an early copy of the book The Money Saving Mom's Budget by Crystal Paine. I have subscribed to Crystal's blog, moneysavingmom.com, since before I started my blog several years ago, so I really wanted to read her first book!

Crystal is a young mom who is committed to living without debt and teaching others how to do the same. Her blog is practical and has encouraged countless numbers of people to learn how to live on less and give more. I am one of those people! :-)

Her book starts by talking about why you need to organize your home and life in order to save time and money. She walks you through setting reachable goals, determining priorities, making a budget for both your time and your money, and getting rid of clutter. The rest of the book is filled with practical ways you can save even more. And if you think it is all about coupons, you'd be wrong! There are lots of ways to "slash your spending, pay down your debt, streamline your life, and save thousands a year" (the tagline from her book!)

The Money Saving Mom's Budget is a very easy read. Throughout the book there are very short testimonials and ideas from many other people who have implemented some of these tips or have saved or earned money in a creative way. Even though I have been reading Crystal's blog for several years, there were some new things that stood out to me that I need to implement. I really think there is something for everyone in this book because of all the golden nuggets of wisdom woven throughout!

You can pre-order your copy of The Money Saving Mom's Budget and it will be sent out to you as soon as it releases in January. Christmas gift idea, anyone? ;-) And one other thing, Crystal is donating ALL the proceeds from her book sales to Compassion International. Isn't that great?!?

Want to win one? You have seven chances to enter! The first one is required because I need to be able to contact you if you win. Be sure to leave a separate comment for each entry, as this will increase your chances of winning. If you are reading this in a reader or in your email, you will have to click here to leave a comment on the post for your entry.

1. Leave a comment with your email. Do you read Money Saving Mom's blog? (Feel free to leave your email in a format like myname at gmail dot com to discourage spammers.)

2. Subscribe via email or RSS reader. Leave a separate comment that you are a subscriber. I love my subscribers! If you are new, welcome!

3. Follow my blog with Google Friend Connect. Look for the lovely pictures of others on the right side of my blog, add yours, and then leave a separate comment.

4. Follow me on Twitter (@MomForHim) and tweet this giveaway with a link to this page. Include @MomForHim in your tweet. Then leave a comment!

5. Post this giveaway on Facebook with a link to this page so your friends can enter too! Then leave a comment saying you did so!

6. Grab my button. Put my button on your blog and leave a comment with your blog's address for another entry! You can find the code to cut and paste on my right sidebar.

7. Blog about this giveaway. Post a link to this giveaway on your blog and leave a comment with the address directly to your blog's entry.

This giveaway will close on Saturday, December 31st at midnight and I will select one winner using Random.org.

*I received an advance copy of the book to facilitate my review. All opinions are my own.

CHRON: Warren Buffett's firm buys more DaVita stock

To contact us Click HERE

OMAHA, Neb. (AP) — Berkshire Hathaway Inc. now holds nearly 12 percent of kidney dialysis firm DaVita Inc. after buying nearly 300,000 more shares.


Warren Buffett's company filed documents with the Securities and Exchange Commission on Friday showing that it owned 11.1 million DaVita shares.


That's up from 10.8 million shares of Denver-based DaVita that Berkshire held one week earlier.
Berkshire has significantly increased its stake in DaVita since it first disclosed owning 2.7 million shares at the end of last year.


Berkshire's regulatory filings don't say whether Buffett himself or one of his company's two other investment managers made the DaVita investment. Berkshire officials don't typically comment on these filings.


DaVita runs nearly 2,000 outpatient dialysis clinics.


Discuss this topic @ Share Investor Forum - Register free

Read the full transcript of the March 2 Squawk Box Interview with Warren Buffett
Download the 2010 Berkshire Hathaway Annual Report
Download the 1977 - 2011 Warren Buffett Letter's to Berkshire Hathaway Shareholders

Warren Buffett @ Amazon

	The Essays of Warren Buffett: Lessons for Corporate America, Second Edition by Warren E. Buffett Buy new: $24.32 / Used from: $17.64 Usually ships in 24 hours
	The Snowball: Warren Buffett and the Business of Life by Alice Schroeder Buy new: $13.60 / Used from: $4.50 Usually ships in 24 hours

CNN MONEY: Buffett on 'runaway' health care costs

To contact us Click HERE

 


Billionaire Warren Buffett says health care spending remains a big problem unaddressed by the Affordable Care Act.


Discuss this topic @ Share Investor Forum - Register free

Read the full transcript of the October 24 2012 Squawk Box Interview with Warren Buffett
Download the 2010 Berkshire Hathaway Annual Report
Download the 1977 - 2011 Warren Buffett Letter's to Berkshire Hathaway Shareholders


Warren Buffett @ Amazon

	The Essays of Warren Buffett: Lessons for Corporate America, Second Edition by Warren E. Buffett Buy new: $24.32 / Used from: $17.64 Usually ships in 24 hours
	The Snowball: Warren Buffett and the Business of Life by Alice Schroeder Buy new: $13.60 / Used from: $4.50 Usually ships in 24 hours

REUTERS: Warren Buffett's Berkshire shutters Virginia newspaper

To contact us Click HERE

Wed Nov 14, 2012 3:54pm EST
  (Reuters) - Warren Buffett's Berkshire Hathaway plans to shutter the 143-year-old News & Messenger in Manassas, Virginia, just six months after it was scooped up from Media General.

The 10,000 circulation newspaper, its website, and its companion weekly publication will close on December 30, the day the final print edition will be published. The move affects the staff of 33 whose jobs will be eliminated.

The announcement was made on Wednesday by World Media Enterprise, which operates the 63 newspapers that Berkshire Hathaway acquired from Media General in June.

"Business conditions drove us to this decision," wrote Doug Hiemstra, president of World Media Enterprises, in a post published on the News & Messenger's website Insidenova.com.

"We do not see a long-term viable way to maintain a daily news operation here."

Buffett, who not too long ago derided newspapers as investments, changed course this year, snapping up scores of small and mid-sized papers throughout the United States.

In addition to the majority of Media General's newspaper properties, he recently purchased a paper in Texas and took a small stake in the newspaper chain Lee Enterprises.

Known as the "Oracle of Omaha," Buffett's acquisition approach to newspapers is to buy small publications that cover the local market. Though he holds a stake in the Washington Post Co, he shuns large metropolitan newspapers.

The closing of such a small paper in the Berkshire stable could be a sign that even publications that are laser-focused on community news are facing serious challenges.

Indeed, Buffett said in a CNBC interview in October that revenue is down about 1 percent at Berkshire's smaller papers.

"Let me be clear: World Media remains bullish on community newspapers and our ability to publish news and advertising content on a variety of platforms that is useful to our readers and the communities in which they live," Hiemstra wrote on the News & Messenger's website.

(Reporting By Jennifer Saba; Editing by Tim Dobbyn)


 Discuss this topic @ Share Investor Forum - Register free

Read the full transcript of the October 24 2012 Squawk Box Interview with Warren Buffett
Download the 2010 Berkshire Hathaway Annual Report
Download the 1977 - 2011 Warren Buffett Letter's to Berkshire Hathaway Shareholders


Warren Buffett @ Amazon

	The Essays of Warren Buffett: Lessons for Corporate America, Second Edition by Warren E. Buffett Buy new: $24.32 / Used from: $17.64 Usually ships in 24 hours
	The Snowball: Warren Buffett and the Business of Life by Alice Schroeder Buy new: $13.60 / Used from: $4.50 Usually ships in 24 hours

Mobile Coupon Ethusiast Escorted Off "Let's Make a Deal" Show

To contact us Click HERE
Los Angeles-- During a taping of the popular day time television show, "Let's Make a Deal", a contestant had to be detained and escorted off Sunset Bronson Studios early morning for acts of violent behavior.

Before being detained by LA Police Department the contestant later identified as mobile coupon enthusiast, Mobsav Man, went on a rant about the studio citing, "Bronson Studios has rats! This show sucks! What the (exploited and deleted) is a Zonk anyway?!? (Exploited and deleted) you Wayne Brady! Your Improv sucks! I won that (exploited and deleted) smart car!"


After obtaining a copy of the police report, it was cited that Mobsav Man had become disgruntled and furious when Wayne Brady offered to exchange his already won $1,300 for a mystery curtain containing a bath tub full of mashed potatoes. Mobsav Man then proceeded to coerce Brady into giving the money back. He then proceeded to run around the set destroying people's costumes and began throwing mashed potatoes at audience members before finally being detained by studio security.

When speaking with eyewitness and audience member Ryan Beckett, he stated, "I thought I came to the show to have a good time and sport my Mr. T costume. Not to have my gold chain whipped at Mangun's face and be part of a Tina Turner Thanksgiving. You know what, Brady really screwed that guy though."

Sunset Bronson Studio members are yet to comment on the incident. However, co-host Jonathan Mangun who had been reported to be cowering in the corner at the time of the incident is said to be suffering from post-traumatic stress and doesn't plan on returning to work anytime soon.

---Evan Tucker mobsav.com

Today Is Tim Ballard's Birthday

To contact us Click HERE


If you are on Facebook, stop by Tim Ballard's page and wish him a Happy Birthday!

https://www.facebook.com/tim.ballard.75

Why is this day unlike other days? Tim contributed most of the Coolidge material which I use on this blog. The photos are so much appreciated that the seventh grade photos of the 1966 class continue to be among the most popular of all the posts.

I was still at John Deere that year, so I cannot say I contributed to the cuteness of the seventh grade class.

Eleanor Diehl Birthday - Quad Cities Online - Ray Diehl's Mom's 90th

To contact us Click HERE
Eleanor Diehl Birthday - Quad Cities Online:

Eleanor Diehl Birthday

Posted Online: Oct. 29, 2012, 11:11 amComment on this story | Print this story | Email this story

Eleanor Diehl, Moline, will be honored at an open house reception hosted by her children on Saturday, Nov. 3, 2012, in celebration of her 90th birthday. Please come wish Eleanor a happy birthday between 2-4 p.m. at Abbey Station, 3031 5th Ave.,Rock Island. No gifts, please. Eleanor was born Nov. 5, 1922, in Chicago, the daughter of Frank and Emma Lenc, and moved to Silvis with her family at the age of two. She is a 1940 graduate of East Moline High School, after which she attended Moline Business College and worked as a comptometer operator in the payroll department at IHEast Moline. She married Robert A. Diehl, Moline, on June 27, 1943, and they were married for almost 65 years. Eleanor was a stay-at-home mom until the age of 50, at which time she embarked upon a 15-year real estate career with Mel Foster Company. She enjoyed indoor league tennis until age 70 and today continues to enjoy playing bridge several times monthly. Her children are Linda Roman (Rick), San Rafael, Calif.; Ray (Edwina), Crown Point, Ind.; and Rob (Stephanie), Littleton, Colo. She is dearly loved by her six grandchildren, Douglas (Cynthia), Brittney (Dan),Geoffrey, Eric, Matthew and Heather and is affectionately know as "GG Ma" by her four great-grandchildren, Natalie, Emilee, Robyn and Jake.

'via Blog this'

Eleanor Diehl's 90th Birthday Party - Great Celebration

To contact us Click HERE

Ray Diehl

Thanks to all classmates for your nice comments and to those able to attend mom's 90 birthday party.

• Ray Diehl I also want to thank Marsha Anderson and Gary Osborne who came after this photo was taken.about an hour ago · Unlike · 3
• Gregory L. Jackson Hi Mike. He used to come into Melo Cream and ask about me. My father would say, "Someone asked about you. Can't remember his name." This happened so many times it was funny, so I led with "Mike Veberg?" Dad - "Yes, yes. That is who it was."about an hour ago · Like · 1
• Ken Odean It was an honor to be their to celebrate with the greatest aunt a guy could ever ask for. Always there for us, understanding, kind, compassionate and just loved being with "the family".about an hour ago · Unlike · 4
• Ken Odean Hey guys, what a great picture of us. Cousin Ray and myself are in the back row, much like at school as I remember. It was a fun weekend for all of us! kenabout an hour ago · Like
• Linda Olson Anderson I may be the only person who doesn't recognize the front row. Names please Ray Good pic.about an hour ago via mobile · Like
• Ray Diehl Click on the pic Linda. The names are tagged.about an hour ago · Like
• Gregory L. Jackson FB training session will start 5, 4, 3, 2...about an hour ago · Like
• Linda Olson Anderson Unfortunately tags don't show on my iPhone. I'll check them later. Thanks.about an hour ago via mobile · Like
• Gregory L. Jackson First World Problems.about an hour ago · Like
• Ray Diehl Steve Haines college roommate Rocky '67, Mike Veberg and Paul McIntoshabout an hour ago via mobile · Like

Psst! Wanna Bum Steer?!

To contact us Click HERE

 The original title of this piece was “No ‘Star’ For the Star-Tribune,” but that seemed a little obscure,because what this virtual column is really about is not so much the MinneapolisStar-Tribune—a newspaper that, like all newspapers, has seen its glory dayscome and go.
 Rather, it is about the ability of somebody with an agenda (the agenda, inthis case, seeming to be the promotion of Best Buy founder Richard Schultz’s dream ofrecapturing his baby) by getting stuff planted in the mainstream media pretty muchany time he or she wants to, regardless of its merit. At least that’s how it appears to us based onthe repeated speculation—Speculation With A Capital “S,” since none of it has provenaccurate, in the sense of actually happening so far—that has appeared inthe paper about Schultz’s purported plans ever since he got kicked off the BestBuy board last spring. Exhibit A is the Star-Tribune report thatappeared last Thursday morning as follows: Best Buy Co. founder Richard Schulze will makea fully financed offer to purchase the consumer electronics giant by the end ofthe week, possibly on Friday, the Star Tribune has learned.  Schulze will submit a formal proposal to theboard of directors before a "hard" deadline of Sunday, said onesource. The offer is expected to be at least $5 billion to $6 billion.—Thomas Lee, MinneapolisStar-Tribune 12/13/12 That breathless bit of “news” was picked upimmediately on CNBC, Bloomberg and elsewhere, sending Best Buy’s share price soaringtwo points, or 15%, on unusually heavy volume of 44 million shares, by day’send. Unfortunately, the very next morning realitysmacked the stock in the head with a 2-by-4 when Best Buy announced it wasgiving Schultz somewhat more time to make a bid than the above-reported “end ofthe week” (they postponed it to after the holiday season), causing the stock todrop right back down to where it had started the day before the 15% spike. Here’s how the Star-Tribune managed to bothbackpedal on its Thursday morning scoop andsuggest better things to come: Best Buy Co. and its founder, Richard Schulze,have agreed to push back the deadline for Schulze to make an offer to buy thecompany, leading some analysts to speculate that Best Buy is more willing tomake a deal.—Thomas Lee, MinneapolisStar-Tribune 12/14/12 So the shmucks who on hadbought millions of shares of Best Buy as high as $14.48 after reading the Star-Tribune (or the news outlets that picked up the story) Thursday morning lost $2 ashare before they had time to spit out their coffee after reading the Star-Tribune Friday morning, whenthe stock opened for trading at $12.46. Now, that was not the first time theStar-Tribune had passed along what turned out to be a bum steer relating to BestBuy.   Since at least last April the paper has beenquoting “sources,” “a source,” “one source,” “two sources” or “an analyst” instories surrounding the potential for a Best Buy takeover, or a DickSchultz-led leveraged buyout, or both. And, as of this writing, not only has neither a takeover or leveraged buyout occurred, one has not even been announced. What follows is a timeline, with the pertinentquotes along with the closing price of Best Buy shares the day the articleappeared.   Wehighlight in bold particularly juicy or over-the-top statements, such as“There are people swarming all over this,” “It’s not going to take long,” and "Richard Schultz will make a fully financed offer," statements for which the averageStar-Tribune reader should be forgiven for assuming they meant something good wasgoing to happen to Best Buy’s share price, and soon.
 We also highlight a pertinent quote from an analyst who knows a thing or two about retailing that those same Star-Tribune readers ought to have paid more attention to (“I'vetalked to several private equity firms, and no one will touch it”).
 As in the abovequotes, all articles contain the byline of one Thomas Lee:

April 18, 2012/$22 Best Buy Co., in the midst of an investigationof former CEO Brian Dunn, may have other trouble to fend off. The Minnesota-based retail giant has become analluring target for a private takeover, according to industry sources. Thenation's largest consumer electronics chain generates more than $1 billion incash a year and has relatively little debt.Such an effort may wellbe a long shot, but over the past year, Best Buy's stock price has lost morethan half of its value, making an acquisition less expensive to a potentialbuyer.A takeover of Best Buy"is on a lot of people's radar screens," said Jeremy Brunelli, aretail analyst with Consumer Edge Research in Stamford, Conn. "Best Buy isan obvious candidate. There's a definite buzz going on"…. Investors arecontacting people with connections to Best Buy to seek their help in exploringa buyout bid, a source with close ties to the company confirmed. "There are people swarming all overthis," said the source, who declined to name those parties.June 8, 2012/$20 Richard Schulze's resignation from Best Buy'sboard Thursday sets the stage for a potentially divisive battle for thecompany's future, one that pits the founder against the very people herecruited to lead the struggling Minnesota giant…. Schulze, Best Buy's largest shareholder, saidhe is giving up his board seat and chairmanship early to "explore allavailable options" for his 20.1 percent stake in the company. Thoseoptions include a venture to reclaim control of the company by acquiring itthrough private investment, according to two sources close to the situation. Schulze has already hired a top lawyer inNew York to assist in such an endeavor, the sources said.June 8, 2012/$20"I've talked toseveral private equity firms, and no one will touch it," said ColinMcGranahan, a retail analyst with Sanford Bernstein & Co…. And while $9 billion is certainly a lot ofmoney, it wouldn't be anywhere near the largest private buyout of a retailer inthe United States. That distinction belongs to the $17 billion acquisition ofsupermarket chain Albertsons by Cerberus Capital Management, CVS and EdenPrairie-based Supervalu Inc. And while food retailing is a low-margin,low-growth business, Best Buy still generates plenty of profits and cash fromconsumer electronics and services. Schulze also has the advantage of not startingfrom scratch. Thanks to his 20 percent stake, Schulze would just need private investors to contribute around $500million to $1 billion and the rest he could borrow from the debt markets,according to an analyst with a major institutional investor in Best Buy. Theindividual requested anonymity because he was not authorized to speak to thenews media.June 27 ($20): Schulze was said to be talking with CreditSuisse among other firms, but it was unclear if, or when, he might make a move. According to sources close to the situation,Schulze would install his own management team if he regained control of thecompany, in which he still holds a 21 percent stake.August 8 ($20) BestBuy Co. Inc. founder Richard Schulze has recruited four big-name private equityfirms -- KKR & Co., Leonard Green & Partners, TPG Capital and ApolloGlobal Management -- to help bankroll his $8.8 billion plan to buy the company,the Star Tribune has learned. Collectively, the group would provide $3billion to $4 billion to back Schulze's bid, with the rest coming from debtfinancing and Schulze's own 21 percent stake in the Richfield-based company.Sources close to Schulze said he may also tap a strategic investor who, forexample, might want Best Buy to sell certain products or services.August 27 ($18) Now that Best Buy Co. will let founder RichardSchulze peek at its books, Schulze will likely present a formal buyout offer tothe board of directors in early September. "It'snot going to take long," said a source close to Schulze, who requestedanonymity because of the sensitive nature of the negotiations. On Monday, Best Buy and Schulze said theystruck a deal that allows Schulze to review the company's financial records andformally form a buyout group, which has 60 days to present a proposal to theboard. The company is currently setting up a"data room," where Schulze and his investors can examine Best Buy'sfinancial records. After that, he willmake an offer "within days to a week," the source said.
November 6 ($15) An initial offer willlikely come next week after CEO Hubert Jolypresents his strategy to investors in New York, according to a source close toSchulze. Of the eight potential investors that expressed interest in financingSchulze's bid, the final buyout group will probably include one to threeinvestors, the source said, who addedSchulze's team has already completed a preliminary business plan…. The source close to Schulze said he wasoriginally prepared to offer $25 a share. But given Best Buy's declining marketvalue of late, Schulze might initially offer $18 to $19 a share, which theboard will reject, he said."I guarantee theywill say no," the source said. Schulze could then make a second offer inJanuary for $21 or $22 a share, the source said. "Ifyou want the killer blow, you have to be close" to Schulze's originalrange, he said.December 13 ($12.18 to 14.12) BestBuy Co. founder Richard Schulze will make a fully financed offer to purchasethe consumer electronics giant by the end of the week, possibly on Friday,the Star Tribune has learned. Schulze will submit a formal proposal to theboard of directors before a "hard" deadline of Sunday, said onesource. The offer is expected to be at least $5 billion to $6 billion."This is going down to the wire," the source said. Over the past weekend, Schulze and his teamsecured agreements to finance the deal from bankers and private equityinvestors, which includes Cerberus, Leonard Greene & Partner and the TexasPacific Group, the source said. Schulze will meet with his top advisers,including former CEO Brad Anderson and former president Al Lenzmeier, inMinnesota on Thursday and Friday as they prepare to move forward. Best Buy declined to comment on Wednesday. Founded by Schulze as a single store in St.Paul in 1966, Best Buy has grown into a global retail powerhouse with more than$50 billion in annual sales and more than 100,000 employees. While it remains unclear how much Schulze willoffer for the company, investors expect the bid to be much lower than the rangeof $24 to $26 per share that Schulze first outlined over the summer. Since lateJune, Best Buy stock has fallen 45 percent, closing Wednesday at $12.20 pershare. The recent stock plunge surprised Schulze somuch that he requested a 30-day extension from the original deadline ofmid-November to see how Best Buy's holiday numbers would hold up, sources said. At this point, institutional investors andanalysts speculate that shareholders would be open to selling their stake toSchulze, although they would prefer at least $17 per share, a 40 percent premiumover the company's current stock price.December 13 ($12.18 to $14.12) Over the past weekend, Schulze and his team secured agreements to finance a buyout deal frombankers and private equity investors, which include Cerberus, LeonardGreene & Partners and the Texas Pacific Group, according to a source closeto Schulze. On Thursday, Schulze met with his top advisers, including formerBest Buy CEO Brad Anderson and former president Al Lenzmeier, in Minnesota asthey prepare to move forward, the source said. Talk on Thursday quickly turned to twoquestions: How much will Schulze offer investors and will Best Buy's board ofdirectors accept or reject? Under the original negotiating terms betweenSchulze and Best Buy, Schulze can make a second offer in January if the boardrejects his initial bid. Some institutional investors have said theywould sell their stakes for as little as $16 to $19 a share. But other analystssuspect Schulze will need at least $20 a share.December 14 ($14.12 to$12.05)Best Buy Co. and itsfounder, Richard Schulze, have agreed to push back the deadline for Schulze tomake an offer to buy the company, leading some analysts to speculate that BestBuy is more willing to make a deal.
Warren Buffetthas been buying up a lot of newspapers lately. We’re not sure if this kind of track record would make his cut.
Jeff MatthewsAuthor “Secrets in Plain Sight: Business and Investing Secrets of WarrenBuffett”(eBooks on Investing, 2012)   Available now at Amazon.com
© 2012NotMakingThisUp, LLC               Thecontent contained in this blog represents only the opinions of Mr.Matthews.   Mr. Matthews also acts as anadvisor and clients advised by Mr. Matthews may hold either long or shortpositions in securities of various companies discussed in the blog based uponMr. Matthews’ recommendations.  Thiscommentary in no way constitutes investment advice, and should never be reliedon in making an investment decision, ever. Also, this blog is not a solicitation of business by Mr. Matthews: allinquiries will be ignored.  And if youthink Mr. Matthews is kidding about that, he is not.  The content herein is intended solely for theentertainment of the reader, and the author.