Cheap is Good!

If you live in the West, particularly in Southern California, chances are you've seen a 99 Cents Only Store. Perhaps you even have one in your neighborhood. And chances are, if you've seen one, you've gone in and bought a couple of things.

Created on the concept that sells all kinds of items from kitchen stuff to food, from toys to gardening tools, from bathroom items to auto produts, ad infinitum, for less than a dollar (the official limit is 99.99 cents), the chain has continued to be profitable.

Now comes word that founder David Gold has sold the company to a private equity firm and pension investment board for (get this) $1.6 billion. You read that right - $1.6 BILLION.

Just goes to show how well you can do just selling cheap stuff (or stuff cheap).

I kid you not.