Sol Price
👤 Person
6
total appearances
Appearances Over Time
Podcast Appearances
The Knowledge Project
Sol Price: The Retail Legend Who Taught Sam Walton, Jim Sinegal, and Jeff Bezos [Outliers]
According to Saul Price, problems such as high interest rates and costly labor weren't half the story of FedMart's downfall.
The Knowledge Project
Sol Price: The Retail Legend Who Taught Sam Walton, Jim Sinegal, and Jeff Bezos [Outliers]
In his view, it was Mann himself.
The Knowledge Project
Sol Price: The Retail Legend Who Taught Sam Walton, Jim Sinegal, and Jeff Bezos [Outliers]
Price says FedMart's operations took on the trappings of an atomic energy land, with employees muzzled and the news media unwelcome on the premises.
The Knowledge Project
Sol Price: The Retail Legend Who Taught Sam Walton, Jim Sinegal, and Jeff Bezos [Outliers]
He estimates Mann poured $100 million into the venture, starting with a $25 million buyout, of which Price got about 13%.
The Knowledge Project
Sol Price: The Retail Legend Who Taught Sam Walton, Jim Sinegal, and Jeff Bezos [Outliers]
Certainly there were big tax write-offs, but Mann once said he just wanted to get his money out of a socialist-leaning German economy.
The Knowledge Project
Sol Price: The Retail Legend Who Taught Sam Walton, Jim Sinegal, and Jeff Bezos [Outliers]
Price says he has mixed feelings about the collapse, mainly because it's more of a blow to Mann's pride than his pocketbook.