“It dices, it slices.” It could be a sign of the top of the stock market.
Ronco Brands, the infamous late night infomercial gadget maker once led by founder Ron Popeil who peddled the Veg-O-Matic and the Pocket Fisherman on TV, has filed to go public.
The Austin, Texas is seeking to raise $30 million and values the business at more than $110 million, which had losses of $2.7 million on revenue of $3.6 million for the first 6 months of 2016, according to the filing.
“But wait there’s more,” as Popeil use to say. If you buy 5,000 shares, Ronco will send you one of the counter-top rotisserie ovens, according to its website. Assuming while supplies last.
Popeil, who was lampooned by Dan Aykroyd on Saturday Night Live, sold the company in 2005 for $60 million, but the lack of new products has hurt the company.
On Sunday my colleague Jonathon Trugman wrote a column on just how bad the economic growth during the Obama Administration was when measured against other recent presidencies. He included this comparison of all the post-WWII presidents’ average GDP growth while in office.
The results were amazing:
- Johnson (1964-68), 5.3 percent
- Kennedy (1961-63), 4.3 percent
- Clinton (1993-2000), 3.9 percent
- Reagan (1981-88), 3.5 percent
- Carter (1977-80), 3.3 percent
- Eisenhower (1953-60), 3 percent
- Nixon (1969-74), 2.8 percent
- Ford (1975-76), 2.6 percent
- G.H.W. Bush (1989-92), 2.3 percent
- G.W. Bush (2001-08), 2.1 percent
- Truman (1946-52), 1.7 percent
- Obama (2009-16), 1.6 percent