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Sam Walton |
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Sam Walton An American businessman who is best known for founding the Wal-Mart chain. He began in the retail store business in 1945 when he purchased a Ben Franklin franchise. Throughout the 1950s, he opened more franchises until he established the first Wal-Mart in 1962. He was one of the first retailers to always buy from the lowest priced wholesaler; this drove sales higher, which allowed him to negotiate still lower prices from wholesalers. This practice, while controversial, became a staple of Wal-Mart. He also was among the first to offer managers the ability to become limited partners in his stores. Walton lived from 1918 until 1992. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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