From Forbes:
Moonstruck
Facing financial ruin from $90 million of debt coming due, Jerry Falwell saved his fundamentalist Baptist organization with secret funding from the doctrinally different church of the Reverend Sun Myung Moon, a new book says. Falwell Inc., by FORBES senior reporter Dirk Smillie, says Moon's Unification Church--which holds that Jesus met a youthful Moon in Korea on Easter Day 1935--gave Falwell $5.5 million in 1992 and 1993 that allowed him to buy up $29 million of debt at a big discount and gain needed breathing room. Moral Majority founder Falwell, who died last year, credited others for the largesse in what the book calls "probably the biggest whopper Falwell ever told." --W.P.B.
1 comment:
Great story. Guess Falwell just didn't want his Baptist friends to know about his problem. Borrowing 5 million to cure a $29 million debt? How do you do that? I need to do that kind of creative financing myself!
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