Star Trackin' 76 with 20 Original Hits 20 Original Artists brought to you by Ronco.
Ronco is an American company that manufactures and sells a variety of items and devices, most commonly those used in the kitchen. Ron Popeil founded the company in 1964, and commercials for the company's products soon became pervasive and memorable, in part thanks to Popeil's personal sales pitches. The names "Ronco" and "Popeil" and the suffix "-O-Matic" (used in many early product names) became icons of American popular culture and were often referred to by comedians introducing fictional gadgets.
In the beginning, the company chiefly sold inventions developed by Popeil's father, Samuel "S.J." Popeil. Products include the Veg-O-Matic and the Popeil Pocket Fisherman, a product manufactured by S.J. Popeil's company. During the 1970s, Ron Popeil began developing products on his own to sell through Ronco. Ronco became a household name with its commercials for kitchen products including the Ginsu knife, and Armorcote (and Armorcote II) non-stick saucepans and frying pans. Aired incessantly, especially during off-hour TV viewing times, these commercials became known for their catchphrases such as "...but wait, there's more!" "50-year guarantee" (later expanded to a "lifetime guarantee"), and "...now how much would you pay?"
In the 70's Ronco created their own record label for compilations of popular tracks around the time of each album's release. However, in fitting 10 to 12 tracks on each side of the albums, many tracks were edited by fading out from approximately 30-45 seconds before the actual end of the songs, much to the disappointment of listeners.
When the infomercial, a program-length advertisement, was devised in the 1980s, it became one of the most popular forums for Ronco to sell its products; however, Ronco did not adopt the infomercial format for its products for several years.
In August, 2005, Popeil announced his sale of the company to Fi-Tek VII, a Denver holding company, for $55 million. He was expected to continue working with the company as spokesman and product developer, but sold the company in order to have more time with his family. Fi-Tek VII changed its name to Ronco, and maintained the right of first look for Popeil's future inventions.
Ronco used to hold the trademark on the phrase "set it and forget it" , used in the commercials for the Showtime Rotisserie Grill. The phrase has gone on to be used in popular culture, including an episode of the comedy news program The Daily Show that reported on a Senate debate over catchphrases for summarizing positions on war in Iraq.
On June 14, 2007, Ronco filed Chapter 11 in U.S. bankruptcy court. Paperwork filed showed that Ronco creditors, the largest of which is Popeil himself, were owed US$32.7 million.
On August 9, 2007, Ronco was purchased by Ronco Acquisition Corporation, to make The New Ronco. After a high profile bankruptcy, consumer and direct marketing veteran, Larry Nusbaum, partnered with Marlin Equity Partners, as the Chief Executive and co-investor to lead the Company back to profitability. Nusbaum is now the president and CEO of Ronco.
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A28
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