bentwookie
Golden Member
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- Thread starter bentwookie
- Start date
GroundZero
Diamond Member
it is a freaking waffle iron on an angle!
if you think that this is genius then i have to think that you are a moron!
bentwookie
Golden Member
well I don't see a "GroundZero grill" how much do you have in the bank? 😀
GTaudiophile
Lifer
ROFL!
iwearnosox
Lifer
It's obvious he came up with it, he named it george foreman like all his kids.
iwearnosox
Lifer
You don't know that but it's probable. In reality the product is developed and ready to market, then the company picks a branding method, in this case him. It depends on his wits and whether he took a one time royalty or a percentage, and what that was.
Reminds me of the guy who sold his 5% stake in simpsons marketing, probably not a bright idea given simpsons merchandise is in the billions of dollars by now.
Pepsi90919
Lifer
😀😀😀😀
iwearnosox
Lifer
Yeah. I like him actually, very personable fellow. Loses points on the whole named all my kids George Foreman, though.
Most boxers, particularly from his era, are paid nothing compared to the revenue they generate. He did well when he came out of retirement for a while, though.
Most boxers, particularly from his era, are paid nothing compared to the revenue they generate. He did well when he came out of retirement for a while, though.
brtspears2
Diamond Member
Beats me what Im doing wrong, my food tastes like it was steamed instead of being grilled.
The Deal with George
Salton?s hottest product line is the George Foreman Grill, an electric grill that
comes in various sizes and colors, and in both indoor and outdoor versions. The original
agreement with George Foreman (former heavy-weight boxing champion of the world)
was that Mr. Foreman received in royalty fees 60% of the gross profit from this product
line (source: December 9, 1999 company press release). But midway through fiscal
2000, and effective as of the beginning of fiscal 2000, Salton negotiated a significant
change in this agreement. Instead of annual royalty payments, Salton purchased the
rights to the George Foreman trademark in perpetuity, paying with shares of Salton stock
valued at $23.75 M and a note payable for $113.75 M, payable in five annual payments
(one of which occurred in fiscal 2000). All together, the present value of consideration
given for the trademark was $122M, which is being amortized over 15 years.
iwearnosox
Lifer
He's not as dumb as he looks. Good going, George.
BeauJangles
Lifer
Me too. Best job I've seen a grill do, ever.
iwearnosox
Lifer
Salton is the company that designed and makes them.
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