Word: mcdougals
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Apparently the matter of the loan renewal was temporarily patched over with the bank, which agreed to take the land purchasers' payments for the next six months. In a letter dated Dec. 16, 1986, McDougal informed Bill and Hillary that three land buyers had defaulted, "thereby creating a shortfall of about $1,000 a month for our monthly payment ... We have negotiated an arrangement with the bank to accept the amount we are now receiving from customers as the monthly payment over the next six months. This will take us into the month of May 1987." Susan was never aware...
...next weekend, Chris Wade, the owner of Ozarks Realty in Flippin, looked out his window and saw a large Mercedes pull into his lot. Hardly anyone in Flippin (pop. 1,000) drove an import, let alone a Mercedes. Out walked Jim McDougal, impeccably dressed in a dark suit even though it was the weekend, and Susan in a tank top. The two came in and announced they had just bought 1,200 acres nearby. Wade pointed out that the acreage consisted of scattered parcels, some of them lacking road frontage or access. McDougal was impressed that Wade seemed to know...
...McDougal saw it, there was little risk. He had a half-dozen real estate developments under way, and he needed an outlet for the growing cash flow they were generating. In any event, McDougal didn't expect to own the property for very long. Even as he reached an agreement to list the parcel, he told Wade to divide it up and sell the individual pieces. Wade was able to sell all of them by the time McDougal closed on his own purchase, netting McDougal a handsome profit without ever having put his capital at risk...
...McDougal was an old hand at this game; he had even helped his old boss, Senator Fulbright, make some money by cutting him in on a land deal in 1974. Fulbright was thrilled, and word soon spread among the Senator's circle of McDougal's financial acumen. Later McDougal spotted a small plot near Little Rock, and, almost offhand, mentioned it one day to Clinton. "You ought to buy this, Bill," McDougal said. Clinton knew of McDougal's success with Fulbright and was interested. He was still paying off student loans he'd taken to finish Yale Law School...
...McDougals and Clintons often dropped by each other's houses or bumped into each other at the Black-Eyed Pea, a blue-plate restaurant featuring Southern food located just minutes from each of their homes. McDougal and Susan would sometimes mention their successful real estate operations; Susan had even obtained a real estate license and was working as a broker. The Clintons, by contrast, complained that they could barely make ends meet. But at least Clinton's small land investment worked out well. In 1978, just as Clinton was starting to mount his campaign for Governor, McDougal was able...