The June 16
th Chicago Tribune Business section reports that Ron
Popeil's empire has filed for bankruptcy in California. Good old Ron sold
Ronco two years ago
for around $55 million, and the new owners still owe him almost $12 million. Other major creditors are the Food Network,
QVC, and Court TV, where much of the advertising was done.
Over the years,
Ronco, based in
Simi Valley, Ca, has sold $1.4 billion worth of products, $19.99 and $39.99 at a time, "but wait, there's more..." Ron started it in 1964.
It also went through another bankruptcy in the 1980s.
Thanks to Ron
Popeil's personal sales pitch, such terms as
Ronco,
Popeil, and o-
matic have become a part of pop culture. "...how much would you pay now?"
He first sold inventions of his father, S.J.
Popeil: Veg-o-
Matic and
Popeil's Pocket Fisherman. Then, in the 70s, he developed products of his own: Ginsu Knives and
Armorcote non-stick pans. Obviously, he got big into the infomercial scene in the 1990s. Other products were the compact
rotissiere, food
hydrators, the bagel-cutter, and Dial-o-
Matic.
I believe that at one time, they sold collections of popular music similar to today's NOW
CDs, but, of course, they were albums. This was in competition with K-Tel. Anybody remember those good old K-Tel albums with ten songs on a side.
You can watch classic
Ronco spiels at
www.biography.com.
Hey, Ron, How Much Postage I Gotta Pay? --
RoadDog