Word: mcdougals
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Dates: during 1990-1999
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That summer, when Chris Wade happened to mention that he had a new listing he thought might interest McDougal, the Clintons' finances were on McDougal's mind. He mentioned to Wade, "I'd like to do something to help Bill Clinton. He's starving to death as attorney general. I'd really like to see him make a little money." McDougal said he'd jump in the car with Susan and come...
...Take a look at this," Wade said when the McDougals arrived in Flippin after the three-hour drive from Little Rock. A group of local businesspeople, shareholders of the 101 Development Corp., had just listed a parcel of 230 acres along the White River, about a 20-minute drive from Flippin. The group had bought the property after the prior owner had fallen into bankruptcy. McDougal was intrigued, especially because the acreage had a lot of frontage on the White River. The river descends through the rugged terrain of north-central Arkansas and has stretches of white water, making...
...McDougals told Wade they were interested, and wanted to talk to the Clintons and maybe some other potential investors about it. They weren't told that the price per acre of nearly $900, a total of $203,000, was more than double what the 101 group was paying for it in a deal that hadn't even yet closed. As with his earlier deal with Wade, McDougal wanted to move quickly, listing the individual lots for resale as soon as possible, even before closing. He didn't see the investment as more than a two- or three-year venture...
...long after their trip to Flippin, Jim and Susan bumped into Bill and Hillary having dinner at the Black-Eyed Pea. Jim started telling them about the great piece of property he'd just stumbled upon near Flippin. "You'll want to go in with us on this," McDougal confidently predicted...
...take care of it," McDougal said. "You may have to sign a mortgage." McDougal explained that the investment would involve little or no cash; they'd borrow the full amount and flip the land as quickly as possible. Both Bill and Hillary seemed excited at the prospect of making some money and agreed on the spot to join in the venture...