Pestilence and Famine at Crosswalk.com
It's been a rough week for Christian Internet site Crosswalk.com. First, it disclosed that its CEO, Scott Fehrenbacher, was "named in criminal proceedings in Orange County, Florida." If that sounds odd, since Crosswalk is based in Virginia, and Fehrenbacher moved there from Seattle, the press release gives a few clues.
The allegations, which do not involve Crosswalk.com, are related to a dispute with a former business competitor who was involved in purchasing Mr. Fehrenbacher's successful former business, but which apparently suffered losses since it's sale in 1998. … These allegations involved a business deal whereby Mr. Fehrenbacher sold his values-based software program, which rated mutual funds based on their support for socially responsible stocks and other investments. Unfortunately, the individuals who purchased the business have been unsuccessful in maintaining profitability and marketing this database research program, and apparently now are trying to blame Mr. Fehrenbacher for such failures.
That's all Weblog has seen so far about the charges, but here's a little background. Fehrenbacher's "successful former business" was the Institute for American Values Investing. But actually it was Crosswalk that purchased "the brand name and proprietary investment screens" of that Redmond, Washington-based company. What Crosswalk didn't buy, apparently, was his eValueator program, which Fehrenbacher sold to Arthur Ally's Timothy Plan, another values-based investing company (based in Winter Park, Orange County, Florida—birthplace of Crown Financial Ministries' Larry Burkett). The software, then as now, sells for $400. But if you'd like to see essentially what it does, take a look at Fehrenbacher's ...