The Carpet Woman Summary and Analysis

The Nebraska Furniture Mart was a large warehouse-type structure in downtown Omaha. Buffett had "eyed" it in past years, and an offer to purchase it had been rejected by owner Rose Blumpkin, a Jewish-Russian immigrant who had escaped during World War I by lying to and bribing a border guard, crossing into Asia and finally meeting up with her husband in Seattle. She and her husband finally settled in Omaha. There, she ran a pawn shop and used clothing store until, in 1937, she managed to rent a small space on Farnham Street just a block away from the Buffett grocery store. She sold furniture at heavily discounted prices by buying overstock from other retailers. She discounted carpet as well. Her sales policy was simple—10% markup on everything—and, over the years, she built her business...