Editing Sol Price (section)

==Career==
Price launched the first [[FedMart]] in 1954 and, together with his son, Robert, Giles Bateman, a nephew, Rick Libenson and others, founded [[Price Club]] in 1976. The company went public in 1980.<ref name="WashPost" /><ref name="NYT_Obit">{{cite news
| url = https://www.nytimes.com/2009/12/16/business/16price.html
| title = Sol Price, Who Founded Price Club, Is Dead at 93
| newspaper = [[The New York Times]]
| author = Margalit Fox
| date = December 16, 2009
| accessdate = 2011-07-23
}}</ref> In 1993 [[Costco]] merged with Price Club to form PriceCostco.<ref name="WashPost" /><ref name="NYT_Obit" /> Leadership in the new organization was shared between Sol Price's son, Robert, and [[James Sinegal]]. After eight months, PriceCostco spun a separate company called [[PriceSmart|Price Enterprises]],<ref>{{cite web |url=https://shop.pricesmart.com/ |title = PriceSmart {{!}} Seleccionar país}}</ref> led by the younger Price. PriceSmart continues to operate warehouse clubs in Latin America and the Caribbean, while the domestic operations became Costco.<ref>Jeffrey Covell (2000) [http://findarticles.com/p/articles/mi_gx5202/is_2000/ai_n19122966/ "PriceSmart, Inc."], International Directory of Company Histories, vol. 71</ref>

[[Sam Walton]] of [[Walmart]] wrote in his book ''Made in America'' that he "borrowed" "as many ideas from Sol Price as from anybody else in the business".<ref name="NYT_Obit" /> He added that he especially liked the idea of calling his discount chain "Wal-Mart" because he "really liked Sol's FedMart name". In 1983, Walton dined with Price and later that year the first [[Sam's Club]] opened in [[Oklahoma City|Oklahoma City, Oklahoma]]. Later when asked how it felt to be the father of an industry (the warehouse retail industry—like Costco and Sam's Club), Sol replied, "I wish I'd worn a condom." Costco's longest-serving CEO, Sinegal, learned the retail business largely through working his way up FedMart's corporate ladder. In [[CNBC]]'s 2012 documentary on Costco, Sinegal indicated that Price had been his mentor, as well as the person who taught him to be "tough" in business, and to display a sense of "social responsibility" toward employees.