Wednesday, March 29, 2006

Spotlight
Samuel Moore Walton, founder of the Wal-Mart discount store chain, was born on this date in 1918. When the first Wal-Mart opened in Fayetteville, Arkansas, in 1962, Sam Walton and his brother, Bud, already owned 16 variety stores in Arkansas, Kansas and Missouri. Now Wal-Mart employs well over 1.5 million people and is the world's largest chain of stores. Walton was listed as the richest man in America by Forbes magazine from 1985-1988. He split up his holdings to include his wife and children and this year five Waltons rank #17-21 on Forbes' list of the world's wealthiest people.

Quote
"There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else." – Sam Walton

Word of the day
retailing: selling products directly to the end-user; Sam Walton was a master retailer. (© )

Today's News

• Caspar Weinberger: former US secretary of defense dies at 88 (story)
• solar eclipse: takes place today in parts of Africa and Asia (story)
• profanity: on the rise in the US (story)

Today's History

• Niagara Falls: ceased falling due to an ice jam upstream (1848)
• Royal Albert Hall: was opened by Queen Victoria (1871)
• Vietnam War: the last US soldiers left South Vietnam (1973)

Today's Birthdays

• John Tyler: POTUS who had 15 children (1790-1862)
• Eric Idle: Monty Python comedian (63)
• Lucy Lawless: actor, Xena, Warrior Princess (38)