Sunday, June 17

Raging Spade Corp. to buy Ronco

Editors at The Raging Spade today announced the company would bid on the bankrupt company 'Ronco,' made popular by its founder Ron Popeil. Ronco filed for bankruptcy late last week. Mr. Popeil sold Ronco to a holding company in mid-2006, ostensibly to cheat the shareholders out of what was at the time an overvalued stock. It is rumored that Mr. Popeil had intended to repurchase Ronco at a lower price, until in December 2006 he met his untimely end at the hand of a Corn Baller. Ironically, the Corn Baller was one household product Ronco refused to carry during the corn ball craze of the late 80s.

Mr. Popeil founded Ronco in the late 60s to sell useful household gadgets. Many of these gadgets have been used to prop up the Duluth economy over the past two decades.

The Raging Spade did not immediately announce how it would finance the sale. The company's press release only indicates that the Ronco purchase is "a brilliant move" and would likely "end world hunger."