Ronco, the company made famous for late-night commercials promoting such useful products such as the pocket fisherman and of course the Veg-o-Matic, has hit hard times, and is currently in Chapter 11 bankruptcy. "But wait!" as the commercials used to say. "There's more!"
The bankruptcy court proceedings were recently livened up by a discussion of Jill Kelly, whom CFO.com described with a straight face as an "award-winning porn star." It turns out that former Ronco CEO Richard Allen has asked a U.S. Bankruptcy Court in California to examine what current CFO Ronald C. Stone disclosed about his work with Kelly as finance chief for Jill Kelly Productions, a producer of adult entertainment that's not of the Trivial Pursuit nature.
CFO.com, unfortunately, is light on the juicy details. Still, Allen mentioned in court an interview with Kelly by AVN (Adult VIdeo News) in which she disclosed firing Stone for poor performance (as CFO) and blamed him for allowing the company to fall into insolvency. The Web site adds that most of the assets of Kelly's company were later sold to Penthouse Media Group for $1.8 million.
But wait! That's not all!
Ronco fired Allen last year for improperly booking about $150,000 worth of expenses, a charge CFO.com says Allen rebuffs, "noting it is not uncommon for a CEO to spend that much on international and domestic travel and entertainment during the course of a year."
Of course.
Founder Ron Popeil sure doesn't sound like a guy who is owed $1.5 million on his website when he talks about the company he made famous. "If I believe in a product idea, I'll put my time, money, and marketing skills behind it. It might take two-and-a-half years of my life to create a product and sell. But, I enjoy every minute of it!"
Act now, supplies are limited.
Image grab from this Biography.com video.
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Reader Comments (Page 1 of 2)
8-02-2007 @ 2:33PM
Joh Petrowski said...
I could go for some smokey rotisserrie chicken right now.
8-02-2007 @ 2:33PM
Rick Edwards said...
Is that a 'Pocket Fisherman' in your pants or you just happy to see me?
8-02-2007 @ 2:26PM
Rick Edwards said...
Is that a 'Pocket Fisherman' in your pants or you just happy to see me?
8-02-2007 @ 2:47PM
P B said...
Big Deal! The only story here is that he couldn't make more money selling sex ..... 'cuz there is more money in that than his rotisserie chicken. Now we hae a better understanding of what he meant with the "pocket fisherman."
8-02-2007 @ 2:54PM
gestat vorndom said...
ron is gay man that proud
of his life
8-02-2007 @ 7:40PM
Biggascoop said...
Your screen headed "Port and Veg-o-matics is impossible to read. The fond size must be 2 or 3 -- how can I make it bigger.
8-02-2007 @ 3:30PM
ski said...
I wonder what Ronco product was Jill Kelly's favorite?
8-02-2007 @ 4:41PM
Al said...
So much for, "Set it ...and Forget it!" Hope she was on the pill!
8-02-2007 @ 4:46PM
looksbooks54 said...
I'm sure there will be more details at thesmokinggun website
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8-02-2007 @ 5:13PM
Dutcher said...
Could care less other than sorry to hear may lose access to product..Gotta' admit, his rotesserie was by far the best on the market and actually performed--OUT performed the others and was better than even indicated. Will take note and put a spare away , but have been using the original for over ten years now, two three time min. a week and have gifted others with who find it GREeeeat TOO.
8-02-2007 @ 6:34PM
Joe Mama said...
I once owned a Popeil Pocket Fisherman fishing pole! A damn fine product!
8-02-2007 @ 6:29PM
Jimm said...
That veg-o-matic worked pretty good!
8-02-2007 @ 6:26PM
Richard said...
Big deal so what, Ron is a man, men like sex, he made fine products and stood behind them I wish the media would stay out of peoples personal lives you guys just spread bad ideas!
8-02-2007 @ 6:52PM
G. W. MC ELROY said...
ALL OF R DAUGHTERS HAVE THE CHICKEN ROTISERY & WE DO ALSO. MY WIFE DOES NOT LIKE THE MESS IT MAKES SO WE DO NOT USE IT OFTEN. HOWEVER, R 1 DAUGHTE USES HERS ALL THE TIME AS SHE HAS 2 YOUNG GIRLS STILL AT HOME & SHE WORKS SO THAT IT THE QUICKEST THING TO FIX. WE SHOULD USE R'S MOR OFTEN.
8-02-2007 @ 6:25PM
Ron Popeil said...
What's the big deal about folks?
8-02-2007 @ 6:33PM
Jack White said...
I owned a pocket fisherman and a rotesserie and both were excellent products. I even bought a rotesserie for my best friend for a Christmas gift and they love it and use it often.
They are QUALITY products!
8-02-2007 @ 6:39PM
John F. said...
pocket fisherman or pocket pool looks like he may have cut his carreer short with a set a chefs knives.
www.woodbutchercalls.com
8-02-2007 @ 6:38PM
John F. said...
big deal maybee one of the best marketing guys out there .
8-02-2007 @ 6:45PM
Joseph Merlo said...
The above story is misleading. If you read it, there is NOTHING that implicates Ron Popeil. The story is about two of his employees, of whom he has fired one. The first used to work for an adult film company, the other was Ron Popeils CEO, whom he fired for mismanaging the company's money. Unless there is more to the story, it seems that Ron did the right thing.
I didn't know Ronco was in financial trouble, but I'm sorry to hear it. I can imagine how Ron feels to give several decades of his life to a company he created, only to see it go down the tubes when he is entering his sunset years. I hope he can pull it out with a new product. Maybe a Pocket Veg-a-Matic.
8-02-2007 @ 7:24PM
RICH said...
JUST SET IT AND FORGET IT !!!