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green73
03-01-2013, 12:09 PM
The Democratic National Committee has no plans to repay Duke Energy for an unprecedented $10 million line of credit it guaranteed to help the Democratic convention’s local host committee put on President Obama’s three-day nominating convention in Charlotte, N.C., last September.

A Duke company official said the company was claiming the money as a business expense for tax purposes, meaning shareholders will foot $6 million of the cost, according to a report in the Charlotte Observer.

Read more: http://www.washingtontimes.com/news/2013/mar/1/dnc-wont-repay-duke-energy-charlotte-convention-co/

acptulsa
03-01-2013, 12:26 PM
A Duke company official said the company was claiming the money as a business expense for tax purposes, meaning shareholders will foot $6 million of the cost, according to a report in the Charlotte Observer.

A business expense?

So, Duke Energy expects to reap some kind of dividend for this investment? Or does this mean Duke owns the Democratic National Committee outright?

green73
03-01-2013, 12:32 PM
Coal Giant's $10 Million Loan to Democrats Is Now a $10 Million Donation (http://www.motherjones.com/mojo/2013/03/democratic-convention-corporate-money-duke-energy-loan)


The decision by Democratic organizers not to repay the loan smacks of hypocrisy. In the run-up to the convention, Rep. Debbie Wasserman Schultz (D-Fla.), the chair of the Democratic National Committee, vowed that convention organizers would not accept corporate money. "We will make this the first convention in history that does not accept any funds from lobbyists, corporations, or political action committees," she said.

LOL

Cowlesy
03-01-2013, 12:33 PM
They are all so full of S.

acptulsa
03-01-2013, 12:36 PM
They are all so full of S.

Yes, they are. But I haven't seen much talk about curbing carbon dioxide emissions lately.

If all that crap comes back into play any time soon, then Duke is not only full of it, they're damned fools and they got taken.

And in this particular, narrow instance, Duke Energy's interests coincide with ours.

NCGOPer_for_Paul
03-01-2013, 12:47 PM
I liquidated my shareholder account today. It ain't much, but the shareholders were never allowed to vote on any of this. I don't feel it is our responsibility to eat our "profits" for the sake of the CEO's poitical grandstanding.

jkr
03-01-2013, 12:51 PM
BUT I BETTER PAY THAT "STUDENT LOAN"...OR ELSE!

i am getting 2 old 4 this $hit

Lucille
03-01-2013, 12:57 PM
Duke CEO Jim Rogers hinted at this possibility in an interview with the Observer last month, when it was becoming clear the Democrats might not repay the company. "At the end of the day, we'll do our best to get our money back," he said. "But if we don't, it's just a contribution we're making I think for the greater good of our community.

Mm hm.


Duke and Progress Energy each got $200 million in federal stimulus money for smart grid improvements in 2009. Duke’s Cliffside power plant won a $125 million “advanced coal” tax credit from the Department of Energy, and a plant under construction in Indiana got $460 million in federal, state and local incentives.

Duke Energy CEO Jim Rogers more open to cabinet post?
http://www.bizjournals.com/charlotte/blog/power_city/2013/01/duke-energys-rogers-more-open-to.html?page=all


Duke Energy Chief Executive Jim Rogers appears to be warming to the idea of going to Washington as U.S. secretary of energy in the second term of the Obama administration, based on an interview he did Friday with Bloomberg Television from Davos, Switzerland.
[...]
The possibility that Rogers could end up as energy secretary gained more currency because of his front-and-center role in bringing the Democratic National Convention to Charlotte. Whenever the question came up, he relied on largely on his standard answer that he could have more impact on energy policy and the industry from the private sector.

What is different now, however, is that his time at Duke is clearly ending. The N.C. Utilities Commission has mandated that he leave the company when his employment contract expires at the end of this year. And despite Williams’ caution, his answer to Bloomberg seems to indicate he would be open to the possibility of going to Washington.

acptulsa
03-01-2013, 01:06 PM
Duke Energy CEO Jim Rogers more open to cabinet post?
http://www.bizjournals.com/charlotte/blog/power_city/2013/01/duke-energys-rogers-more-open-to.html?page=all

And in this particular, narrow instance, I'd say that these interests not only fail to coincide with ours, but that I doubt that these interests of Jim Rogers' coincide particularly well with Duke's. Of course, I could be wrong--Vilsack's tenure as Secretary of Agriculture has been awfully good for Monsanto...

devil21
03-01-2013, 04:21 PM
I liquidated my shareholder account today. It ain't much, but the shareholders were never allowed to vote on any of this. I don't feel it is our responsibility to eat our "profits" for the sake of the CEO's poitical grandstanding.

Not only that but Duke is asking for ANOTHER hike in our electricity rates after getting a big one last year already. I doubt "shareholders" will be paying for this welched loan. Duke's customers like us will be.