The Cigar "Empire" Of Trump's Apprentice

APRIL 21--Look, we're happy that this Bill Rancic got "The Apprentice" gig, but we'd wish every story about the 32-year-old Chicagoan would stop claiming that the guy spent eight years growing his Internet operation--Cigars Around the World--into a "multimillion dollar" business. Because when Rancic sold his outfit, The Ranley Group, to the publicly-held Synergy Brands last June, he only got $425,000 (a New York Daily News story last week actually claimed that the sales price "made Trump's eyes pop"). According to a March 30 Securities and Exchange Commission filing, depending on operating results through mid-2006, Rancic could receive "additional consideration of up to $450,000" in Synergy stock and/or cash. While he formed Ranley in 1995 with a partner, it is unclear whether Rancic shared ownership at the time of the firm's sale. The SEC filing, an excerpt of which you'll find below, notes that last December Ranley received a performance payout of 25,000 Synergy Group shares, which the company valued at $100,000. With Synergy shares opening today at $4.50, the value of that Ranley bloc--if it wasn't offloaded--has increased by $12,500. (1 page)