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( gilberto3 )

Comments made by gilberto3

Sol Price Changed Retailing Forever

I would like to comment on Sol Price.I was a Business Agent and elected Trustee for Teamsters Local 2707, Air Line Division for 18 years. During that time we represented everyone at PSA except for the Pilots and a few clerical people. As was common in the 1980's we had to negotiate a pay cut. In return we also negotiated an ESOP (employee stock option plan).We also got to pick our own member of the board of directors. We picked Sol to be our representative. Why? He was a Democrat with a reputation for honesty and a genuine caring for his employees, all of which were represented by a Teamsters local here in San Diego. Sol had a saying that went, "you take care of the employees first, If you take care of them, they will take care of you and the business". That seemed to work out well for him. I will say that he was always up front with us and never lied to us (I was the head of the ESOP employee committee).There was the story that while visiting one of his Price Clubs a lady recognized him and told him that the binder paper that they had on sale was 2 cents cheaper at Wallgreens. He immediatley lowered his price 2 cents below them. I could go on and on, but I cannot say enough about a man that has had such an impact on retailing, ask Sam Walton. The only difference is that every one of his stores was organized, from Fed Co to Fed Mart by the Teamsters.I am now retired but I will never forget Sol Price.
Regards,
Gil Oakes
PH-(619) 475-8686

lo

March 22, 2011 at 11:47 a.m. ( | suggest removal )