Tag Archives: Belarus

Jew of the Week: Sol Price

Sol Price (1916-2009) was born in New York City to Jewish-Russian immigrants from Belarus. He grew up in San Diego, where he earned a philosophy degree at San Diego State University before getting a law degree from the University of Southern California. Price was admitted to the bar in 1938. After over a dozen years as a business lawyer, Price had an idea to open a new kind of department store, offering wholesale prices on quality goods sold in bulk. Price opened his first store, called FedMart, in an old airport hangar in 1954. He charged a small membership fee ($2 per family) and kept prices even lower by avoiding advertising, major credit cards, and expensive real estate, and maintaining a small inventory. The model was a great success, and Price expanded rapidly. He pioneered many innovations in retail, including being the first to sell gasoline at wholesale prices, and being the first to have an in-store pharmacy and opticianry. By 1974, FedMart had 45 stores and over $300 million in sales. The following year, FedMart was bought out by a German retailer, and Price was soon kicked out of the company. He then started a new chain, Price Club, in an old factory once owned by Howard Hughes. Price Club expanded quickly, too, and went public in 1980. A few years later, one of Price Club’s employees teamed up with a wealthy lawyer (whose own Jewish family was successful in retail) to start a competing wholesaler, called Costco. In 1993. Price Club merged with Costco to form PriceCostco, together having 206 locations and $16 billion in sales. By 1997, Costco became the official company name, and today, Costco has over 700 locations around the world, with 85 million members, and 174,000 employees. It is the second largest retailer, and the 18th richest company in the world, with $120 billion in revenue. Costco is second only to Wal-Mart. Ironically, Sam Walton wrote in his book that he “borrowed” most of his ideas from Sol Price, and called his store “Wal-Mart” because he liked Sol Price’s FedMart! Not surprisingly, Price is often called the “father of the wholesale retail industry”. He was also a generous philanthropist, having donated tens of millions to various causes, especially in his hometown of San Diego.

Passover Starts Monday Evening!

Words of the Week

On his birthday, a person should meditate, recall and contemplate his past, and correct and repent that which requires correction and repentance.
Rabbi Menachem Mendel Schneerson, the Lubavitcher Rebbe

Jew of the Week: Shimon Peres

A young Shimon Peres with his wife Sonia

A young Shimon Peres with his wife Sonia

Szymon Perski (1923-2016) was born in the shtetl of Vishnyeva (then part of Poland, now in Belarus) to a wealthy Russian-Jewish family. He was the great-great-grandson of the famed Rabbi Chaim Volozhin, and was greatly influenced by his own grandfather, Rabbi Zvi Meltzer. At the young age of 11, Perski’s family moved to Tel Aviv and Hebraized their last name to Peres. (Their entire extended family back in Vishnyeva would later perish in the Holocaust). After finishing his schooling, young Shimon went to live on a kibbutz working as a dairy farmer and shepherd before co-founding his own kibbutz. He was soon elected secretary of a Labor Zionist youth organization. From there, he joined the Mapai party, whose leader David Ben-Gurion took a personal interest in him. At 21, Peres was imprisoned for two weeks by the British for leading an “illegal” expedition into the Negev to scout a new place for Jewish settlement. In 1947, now married, Peres was appointed to the Haganah and put in charge of recruitment and weapons purchases. The following year, he took charge of Israel’s nascent navy. In the 50’s, while part of Israel’s delegation to the US, he studied at NYU and Harvard. At 29, he became the head of Israel’s Ministry of Defence – the youngest person to ever hold the position. He was praised for building strong military alliances with other countries (particularly France, who awarded him their highest distinction, the Legion of Honor), and securing large amounts of modern weapons that propelled Israel into a regional powerhouse. He also helped establish the crucial Dimona nuclear reactor. In 1959, Peres was elected to the Knesset. At one time or another, he served as Minister of Immigrant Absorption, Minister of Transportation, Minister of Defence, Foreign Minister, Minister of Finance, and Information Minister. In 1984, Peres was elected Israel’s prime minister, and in 2007, Israel’s president. Among his other major achievements are the 1976 Entebbe rescue operation (which he pushed through the Cabinet), the 1994 peace treaty with Jordan, and his Peres Center for Peace, which has trained over 250 Arab doctors and brought life-saving treatment to thousands of Arab children. Peres was awarded the Nobel Peace Prize in 1994 for his work with the Oslo Accords, was knighted by Queen Elizabeth in 2008, presented with the Presidential Medal of Freedom in 2012 by Barack Obama, and with the US Congressional Gold Medal in 2014. He was also the author of 11 books. Sadly, following a debilitating stroke, the last of Israel’s founding fathers passed away in his sleep early Wednesday. Dignitaries from around the world are flying in to pay their respects, including past and present heads of state of Germany, France, Canada, Australia, Mexico, and the US – many of whom Peres had guided and advised. President Obama has ordered flags in America to fly at half mast. Despite his age, Peres worked tirelessly until the very last days of his life. He had once said, “Optimists and pessimists die the same way. They just live differently. I prefer to live as an optimist.”

Words of the Week

It’s better to be controversial for the right reasons than to be popular for the wrong reasons.
– Shimon Peres