In 2003 Warren Buffett and his company Berkshire Hathaway met with the executives of Wal-Mart to discuss a major billion dollar deal. Buffett was interested in purchasing McLane Distribution, which distributes groceries and nonfood items to convenience stores, drug stores, theaters, and others. At the time, McLane had sales of about $23 billion, yet operated on paper-thin margins—about 1% pre-tax.
This deal would swell Berkshire's sales figures far more than their income. Read More