1970s
The $1.50 hot dog and soda combo began at Price Club after Hebrew National agreed to supply hot dogs and carts.
“the Costco $1.50 hot dog and soda deal is born.”
Topic
Price Club
5 facts from 2 episodes, in date order. These are what speakers said on the shows, each linked to the moment it was said. They aren't independently verified.
1979
Price Club became a public company in 1979 by crossing the 500-shareholder threshold, without an IPO.
“Price Club crosses the 500 shareholder mark that at the time the SEC mandated if you had more than 500 separate shareholders of a company, you had to start filing as a public company.”
1993
Costco and Price Club merged in June 1993 to form PriceCostco.
“So in June 1993, Costco and Price Club merged together to form the united Price-Costco.”
1993
In the 1993 merger, Costco shareholders received 52% of the combined company and Price Club shareholders 48%.
“At the transaction, 52% of the equity in the combined company goes to Costco shareholders, 48% to Price Club shareholders.”
Undated
Charlie Munger said he bought Price Club stock on the open market before the merger with Costco, receiving no special treatment.
“Yes, I did. But I just bought my stock in the market. I wasn't getting any favor.”
Episodes