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.
Double Your Workforce and Slash 50% of Your Cost - The Top 8 Reasons For Offshore-Ownership For As Few As 3 Employees
Ann Arbor, MI (ContentDesk) October 26, 2005 -- iToom, an Ann Arbor, Michigan based business incubation service, reveals a new business building process that allows small companies to start their own offshore operation (subsidiary) in India with as few as 3 employees without an upfront investment."iToom stands for IT-Offshore-Ownership-Model. It was created to give small companies a no-risk alternative to using offshore outsourcing contractors. Until now, the upfront investment, required overhead and the time to get started were a huge obstacle for small businesses to start a subsidiary in India. Many businesses know they have to consider some offshore activity for competitive reasons, but don't feel comfortable using offshore contractors," says Thomas Schramm, VP of Business Development at iToom. "The iToom business incubation process lets a small company respond to globally changing markets just like a Fortune 100 company does."iToom's services can be used by companies in need of IT...
Double Your Workforce and Slash 50% of Your Cost - The Top 8 Reasons For Offshore-Ownership For As Few As 3 Employees
Payroll > Double Your Workforce and Slash 50% of Your Cost - The Top 8 Reasons For Offshore-Ownership For As Few As 3 Employees
California Payroll Announces Partnership with Ascentis Corporation
Brentwood, CA (ContentDesk) August 2, 2005 -? California Payroll announced today it has partnered with Ascentis Corporation, a pioneer in state-of-the-art human resource management systems (HRMS).
Through this partnership, California Payroll now offers clients a fully integrated and centralized HR System that seamlessly connects and communicates with the company's payroll application, enabling an easy flow of data between payroll and human resources."There is a great demand from our clients, and in the marketplace, for a dynamic HR system that completely connects payroll, HR and benefits. This enables HR and payroll data to harmoniously synchronize," stated Henry Lonsdale, President, California Payroll.
"In partnering with Ascentis Corporation, we proactively help our clients' HR save significant time by reducing data-entry errors and eliminating data redundancy and duplicate entries."???????????????????? The partnership with Ascentis Corporation reinforces California...
Payroll > California Payroll Announces Partnership with Ascentis Corporation
Check Cashing Services
Commercial banks offer a number of services to their customers, but in recent years, many people have chosen to use check cashing services instead of banks. Check cashing services are an alternative service sector to traditional banking service.
This service has proven to take over the role of traditional financial institutions such as banks and credit unions. The service is offers various options. Customers can bring any type of check to cash, including personal checks, payroll checks, government checks, insurance checks, tax Refund checks, settlement checks, and Social Security checks.
The success of these alternative financial services is due to many factors. Partly, it is due to its ability to compose products and operations to meet the needs of households with little or no month-to-month funds.
Moreover, this service is beneficial to customers as well as the financial institutions. It is a "win-win' situation for both the...
Payroll > Check Cashing Services
Coming to a Business Like Yours: Webware
Whether you sell a product, a service, or a combination of both, those who are successful have one thing in common... an efficient back-office. But the "cost" of an efficient office has meant using complex accounting and order-entry programs that are hard to learn and can require a computer expert to network many machines together. The software companies have not been standing still during the past two years. They have heard their customers complain and many of them are now coming out with what is often termed "webware" or web-services.
Web services were first made popular by the on-line stock brokers like Ameritrade. The concept spread to banking, then to payroll services like PayCycle and now to the full back-office such that all of the major order-entry, billing, reporting, and financial functions of the office can be done on-line with services like JAYA123 (http://www.jaya123.com) and the Oracle Small Business service. Instead...
Coming to a Business Like Yours: Webware
Payroll > Coming to a Business Like Yours: Webware
Online Payroll Outsourcing
What is Online Payroll Outsourcing? Well, outsourcing service provider will process all payroll activities online and thus making paperless payroll solution. It is emerging as fast outsourcing job in the field of payroll. Online payroll will help getting full information about payroll system of your organization on few clicks anytime. Online payroll will help you even getting the paychecks printed whenever it is required.
Why to outsource payroll jobs?
Payroll record keeping, maintaining records and tax reporting are time consuming as well as require large employment for maintaining payroll manually. Payroll is complex in nature due to involvement of taxations and various laws & by-laws for keeping it accurate.
It will be very convenient for companies to outsource payroll jobs to outsource service providers who have good experience in payroll business. Such outsourcing firms employ highly qualified and experienced people who can handle your payroll accounts...
Online Payroll Outsourcing
Payroll > Online Payroll Outsourcing
Online Payroll Outsourcing
What is Online Payroll Outsourcing? Well, outsourcing service provider will process all payroll activities online and thus making paperless payroll solution. It is emerging as fast outsourcing job in the field of payroll. Online payroll will help getting full information about payroll system of your organization on few clicks anytime. Online payroll will help you even getting the paychecks printed whenever it is required.
Why to outsource payroll jobs?
Payroll record keeping, maintaining records and tax reporting are time consuming as well as require large employment for maintaining payroll manually. Payroll is complex in nature due to involvement of taxations and various laws & by-laws for keeping it accurate.
It will be very convenient for companies to outsource payroll jobs to outsource service providers who have good experience in payroll business. Such outsourcing firms employ highly qualified and experienced people who can handle your payroll accounts...
Online Payroll Outsourcing
Payroll > Online Payroll Outsourcing
What is life insurance?
The insured amount to be paid, by the insurer, on death of the person is called Insurance. Life insurance is a protection plan and is regarded as the main tool of financial planning. Life is uncertain and it is always good to insure as it would help the other family members or dependents.
The life insurance company insures the person for a specific amount. The amount of premium depends upon how many years and amount to be insured (coverage).
Age also is a factor while considering...
We Stand Firm With The Romar Group, Inc. Payroll What is life insurance?
Payroll > What is life insurance?
Tis the Season for Giving…Flowers
(ContentDesk) December 2, 2005 -- Are you racing around trying to buy holiday gifts for everyone on your list? Getting gifts out to everyone, near or far, doesnt have to be difficult. Instead of running in and out of every store in town make one stop at your local flower shop or a couple clicks on an online flower site and send flower arrangements to those hard to shop for folk. Winter is the number 1 flower-buying season and theres a reason for that, plants and flowers make great gifts. Here...
florists We Stand Firm With The Romar Group, Inc.
Payroll > Tis the Season for Giving…Flowers
Electric Scooter wholesale ? passport to freedom
Electric Scooter wholesale ? passport to freedomElectric scooters wholesaleAllowing for unprecedented mobility for the disabled and many seniors depends on being able to buy electric scooters wholesale. Rapidly developing technology and innovation are providing a variety of choices and sophisticated options for many disabled persons. Buying the electric scooters was the solution for many who now navigate freely in a residence or outdoors. Power, speed and durability are characteristic of many...
We Stand Firm With The Romar Group, Inc. Payroll Electric Scooter wholesale ? passport to freedom toyo tires
Payroll > Electric Scooter wholesale ? passport to freedom
suv We Stand Firm With The Romar Group, Inc. Payroll
Automatic Brain Works Overtime For You
Use all of your brain to be your most effective."Running on Automatic" is what I call the ability to visualize what you need to have happen. Automatic because the part of your brain that gives us most of our solutions is working all the time. When you are asleep or not. Most of us call it our subconscience. This part of your brain is processing what your awake aware or cognitive part of the brain is telling it is going on.
Our subconscience is not aware of any rational or philosophical...
We Stand Firm With The Romar Group, Inc. Payroll Automatic Brain Works Overtime For You
Payroll > Automatic Brain Works Overtime For You
Payroll
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