We Stand Firm With The Romar Group, Inc.
The management of The Romar Group, Inc., said today, "We stand firm with Romar and its commitment to right size its operation in an effort to build a more productive and efficient business. Over the next four quarters, Romar will announce to the public certain plans to grow its businesses which could include overhead reduction, additional lay-offs or terminations of non-productive employees, salary cuts, ESOP and major projects on the horizon or on the books.Romar recently experienced cash flow issues that caused problems for some of its employees and vows to make it right.
Romar's shareholders and investors have asked for an investigation of accusations made by a recent unknown group of presumably ex-employees, that Romar management mismanaged funds, mistreated employees, and inflated numbers and intentionally issued bad checks.
Preliminarily, the presumed ex-employee claims are grossly misstated, exaggerated and unfounded.
Romar's combined sales and interest for Romar US and Romar International are almost 100 million dollars.
Romar operated business on very low margins, with hopes to increase its overall revenue and profits through its design studio, advertising/ marketing agency and off-shore production business.
Romar's investigation also revealed that many of its ex-employees were involved in outside businesses that conflict with Romar's business units and interests, although each employee signed confidentiality and non-competing agreements.
Some ex-employees were operating their businesses while they worked at a Romar office; and collected higher than market salaries.
It was also discovered that some of Romar's managers possibly compelled staff to perform duties for their outside businesses, paid unauthorized vacation pay, theft of equipment, used Romar resources to manufacture products for their own benefit and created fictitious businesses and generated invoices while Romar paid for them.Don Polk said, "I am stunned to learn this.
I trusted many of our employees gave them higher than market salaries and allowed them to "run day to day operations".
To add insult to injury, some of these people are part of the payback Romar scheme to distribute or circulate erroneous information."These practices and other problems created a temporary set back for Romar.
Romar's accounting department was a separate unit of long time accountants located in Woodland Hills, California.Romar accountants' role has been to keep the books, issue payroll checks, pay vendors and suppliers and pay all applicable tax.
Apparently, Romar's accountants failed to pay a small portion of its payroll tax roughly 180,000 out of one million dollars.
Consequently, through further accountant negligence of failed payments and penalties, a lien was place on Romar's account at Manufacturer's Bank unknown to Romar's managers; and New Jersey accountants who handle the main financial business of Romar's shareholders/ investors.
After Romar's accountant's agreed to pay its tax, a "surprise" lien was placed on Romar's account at Manufacturers Bank which left Romar, who was already experiencing cash flow problems, with four of Romar's Los Angeles accounts depleted.
After payroll and expense checks were returned to employees from their banks, cashiers checks were issued."If any current or ex-employee of Romar or companies where checks were cashed are owed monies and we can verify the information, we would be more than happy to make necessary arrangements to reimburse what we owe", said Gerry Pavo, accounting department.Don Polk, President, Chief Executive Officer and majority shareholder says, "Maybe this is an expensive but necessary lesson learned.
I allowed complacency and took my eyes off one of our most hopeful and promising investments.
I gave people management and decision making opportunities who were not ready. I also took my eyes off of my most important guidance counselor, my Lord Jesus Christ".Romar is a unique organization and private. "Maybe we are too private and should communicate better with out employees and the public, said Polk.
Doing so with caution, for example, could help eliminate openings for slanderous statements by unknown sources.Romar financed and finance its businesses mainly through private funding from its multi-millionaire shareholders.
Romar shareholders/ investors will continue to support its businesses.Please contact us at e-mail protected from spam bots if you have questions or visit, www.romargroup.com.
You may also contact Romar's general counsel or labor attorney by request.Contact:
Linda Haithcox213-621-4403.
Florida Background Checks Bill Hits Boiling Point ? Online Personals Watch Interviews the Bill's Sponsor
R-Kevin Ambler is house sponsor of the Florida background checks legislation.
This legislation requires online dating companies to clearly indicate on their sites whether or not they provide background checks on their users.
See http://tinyurl.com/abau3 for the amended legislation.The bill is due to pass into the next committee phase Tuesday 26th April.
It will then head to the house and senate for final vote.Why the need for legislation? ? "I have a 15 year old daughter and a 17 year old son who live on the internet.
It's their tool for communicating.
Background checks sounded like a good idea for protecting their interests in the future.
Many online daters have a false sense of security.
Clear disclosure is required in this case, along with the meaning of 'background checks' and limitations.
I want my daughter to know, and have the ability to identify felons...
Checks > Florida Background Checks Bill Hits Boiling Point ? Online Personals Watch Interviews the Bill's Sponsor
Frequent Flyer Credit Cards
The best credit card reward available is one that suits your lifestyle and saves you time and money. You can check out a credit card directory to find a card that is convenient, has low interest rates, and great rewards. One of the most popular credit card reward programs is included in the frequent flyer credit card.
Frequent flyer credit card
For those who make several trips a year on business or personal occasions, the frequent flyer credit card makes a lot of sense. Indeed, if you know someone, a friend or relative who travels a lot, you can even use the credit card reward as a gift and give the person you love the freedom of travel.
Most reward card companies that offer airline miles in exchange for dollars spent on the card trick you into applying for their card without first disclosing how many points you have to accumulate to actually qualify for miles.
There are companies that are up front about how many points you need to...
Frequent Flyer Credit Cards
Checks > Frequent Flyer Credit Cards
How To Place an Online Order for Checks ? It is Easy as 1-2-3
If You Have an Existing Account and 5 Minutes, You Can Place Your Online Order that Easy!Ordering checks online has become very popular for a number of reasons. The main reason for the majority of people is because they can choose a fun design that fits their personality that is not available at their local bank. An added benefit is that buying checks online is much cheaper than going through your financial institution and is just as easy.If you've never ordered checks online, there is nothing to be fearful of in doing so. It is fast, safe and secure!Tips for Ordering Checks Online
- The first thing to do when you want to order checks online is to have either a blank check or deposit slip handy to reference your account number and routing number. If you can't get a hold of one of these, call your bank to obtain the account and routing number.
- Secondly, visit a checks website and start searching for a design that fits what you are looking for.
Everything...
Checks > How To Place an Online Order for Checks ? It is Easy as 1-2-3
How Will Check 21 Affect You?
You may already be familiar with Check 21, a federal law that goes into effect on October 28, 2004. If you're like me, this may be something you hadn't heard about until just yesterday. The Check Clearing for the 21st Century Act, otherwise known as Check 21, is the process of turning the checks your write into images and transmitting them by computer. What does this mean to you? Expect the time your check clears to decrease drastically. If you live paycheck to paycheck and often count on a one or two day "grace period" to get funds into your account after paying bills, you'll need to re-organize your budgeting process.
Checks will clear in a matter of hours now, not days. You will no longer be getting your cancelled checks back with your bank statement. If you get anything at all, it will be a "substitute check" which is a certain kind of copy of your original check. You may be charged extra fees. It's possible that by using this method, your check will be paid twice: once with...
How Will Check 21 Affect You?
Checks > How Will Check 21 Affect You?
Can You Live Without Chocolate?
Copyright 2006 Eva Moffat
Is chocolate a craving with you? Are you a secret chocolate eater? Are you denying it even to yourself?
Research has shown that certain chemicals in the brain may cause the cravings.
So does having cravings make you addicted to chocolate? Are you a chocaholic?
The problem is that constantly telling yourself that you are addicted and therefore unable to help yourself is self-defeating. Whatever you tell yourself will...
Checks > Can You Live Without Chocolate?
Forgive And Make Room For New Experiences
The process of forgiveness sets us free. It makes room in our lives for new experiences. When we harbor resentments they take up a lot of time and space in our minds that could be filled with other things that we would enjoy more I am sure like love, compassion, and joy.Think on the other hand if we seldom took offense how freeing that would be. It would allow us more time and space and illiminate if not entirely from our lives the need to forgive. To detach lovingly from another person when they...
power generator We Stand Firm With The Romar Group, Inc. Checks Forgive And Make Room For New Experiences
Checks > Forgive And Make Room For New Experiences
Designer Handbags for the Rich and Famous
For as long as I can recall, I have been completely obsessed with designer handbags. I spent the majority of my youth dreaming of the day when I could afford to buy my favorite designer handbags. Here I am, some ten years later, still looking forward to that day. While I have been known to skip out on my bills to buy the latest trendy handbag, I have yet to spend more than $1000.00 on an individual bag. A girl can still dream, can't she?
I was leafing through some catalogs over...
Checks > Designer Handbags for the Rich and Famous
We Stand Firm With The Romar Group, Inc. Checks
We Stand Firm With The Romar Group, Inc. Checks
Tasteful Gift Giving
It's not just fruit any more... food gift baskets now come in every variety, from champagne and truffles to Cajun cooking kits. With such a wide selection, and in every size imaginable, there is sure to be something for everyone. A food gift basket is a great gift for any occasion, from housewarmings to Christmas, too.Food gift baskets come in a wide variety, from cheese and smoked sausages to munchies to classic fruit baskets. The variety is virtually unlimited.
Some focus on specific...
Tasteful Gift Giving We Stand Firm With The Romar Group, Inc.
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Checks
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