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ROBERTSON RESIGNS FROM LAURA ASHLEY BOARD

Web Posted: June 11, 1999

irst, it was the IRS ruling on the tax-exempt status of his Christian Coalition. Then, there was a public outcry over his involvement with the Bank of Scotland to launch an internet financial deal, after he described Scotland as a "dark" land populated by powerful homosexuals.

    Now, he's had to resign as director of a major retail firm.

   In yet another setback for his private business career, American televangelist Pat Robertson has resigned from the board of directors of the Laura Ashley company, a U.K.-based retail firm specializing in fabrics and fashions. That move follows calls for Robertson's removal from the post he has held since January, 1999. Robertson owns 2 million shares of the company worth an estimated $450,000; his rise at Laura Ashley coincided with a major corporate investment and reorganization, including the appointment of a new chairman linked to a Malaysian group Robertson's is partnered with to provide "no news, no sex, no violence" television programming throughout China and much of Asia.

   Robertson's resignation comes just after the collapse of a deal with the prestigious Bank of Scotland to provide internet and telephone banking services in the United States. Bloomberg financial and other sources described the new venture as "worth billions," and a lucrative Initial Public Offering (IPO) was expected shortly on the NASDAQ exchange. But word then leaked of Robertson's comments on his "700 Club" television show, where he described Scotland as a dark country populated by "powerful" homosexuals. Bank of Scotland customers had been canceling their private accounts in protest of the firm's association with Robertson, and major patrons such as the Trade Union Council announced that they intended to sever relations with the bank as well. Last Friday, following a meeting between Robertson and Bank of Scotland executive Peter Burt, it was announced that the financial services deal was being dissolved.

   At Laura Ashley, several key shareholders were already agitating for Robertson's removal. The preacher managed to survive one vote to remove him, but human rights and gay organizations, including the protest group Outrage! then increased pressure on the retailing firm. The London Times noted on Monday that Ashley "is to become the next target of protesters who have successfully campaigned against the Bank of Scotland's alliance with Pat Robertson, the right-wing American millionaire evangelist."

   An Outrage! organizer told media, "We were unaware that Laura Ashley had any dealings with this man (Robertson) until last week. I'm sure we can arrange a colorful protest to get our viewpoint across."

monthly special    George Broadhead of the Gay and Lesbian Humanist Association said that his group was "horrified that a well-respected company like Laura Ashley should invite such a homophobe to be a director...My own living room is decorated with Laura Ashley wallpaper, and I suspect that many gay people are fans of the company's products. I shall be looking elsewhere for furnishings in the future..."

   Both Bank of Scotland and Laura Ashley were low key in announcing Robertson's association with their respective firms. BOS provided a scant biography of Robertson to media, and the Ashley company described the Christian Coalition founder as "a noted media pioneer, educator, philanthropist and religious broadcaster..."


   Despite the financial setbacks with Ashley and the Bank of Scotland, Robertson is moving ahead not only with his political plans for the year 2000 election, but in two key financial deals. These are the restart of the aging Powerine oil refinery near Los Angeles, and a gold mining venture recently announced in partnership with the government of Liberia.

Related Story:
IRS Denies Tax Exemption For Christian Coalition



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