The corporation-less Democratic convention that wasn’t

posted at 3:21 pm on March 1, 2013 by Erika Johnsen

We already knew that the Democrats’ grandiose and contumelious hype about being the first convention in history to be funded entirely by “the people” and not accepting any donations from lobbyists, PACs, or corporations, was just a bunch of populism-fueled horse hockey. Now, the final confirmation of the convention’s Corporate Distaste In Name Only:

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.

The large loan and the secrecy surrounding it have government watchdog groups deeply concerned. They say the arrangement raises serious conflict-of-interest issues for Mr. Obama and challenges his claim to be committed to disclosure and transparency.

Since guaranteeing the loan, “Duke Energy previously had refused to disclose the payment terms or when it would come due.” Hmm, could that possibly be because they never really had any intention of the money being  merely a “loan” in the first place?

Oh, and a random thought: I would also like to point out that Duke Energy is the country’s biggest power company, and they use a lot of coal. …The Obama administration hates coal. I wonder what motivations such a power company might have for getting friendly with the Obama folks?

Once upon a time, Obama’s Inaugural Committee was all about creating a “people’s” party without accepting any funding from any of those nasty corporations or lobbyists that might be trying to get in a good word with the incoming Obama administration — but oh, how a few years, a second term, and economic necessity can help you change your tune. The Most Transparent Administration, Evah, and the Most Transparent Convention, Evah: Like two peas in a pod (made even more painfully hilarious by the fact that Team Obama is now pretty much selling access to the president… for a lot of money).

Also, just perhaps of interest:

The [DNC] ended [January] with about $4.7 million cash in the bank and an outstanding debt of nearly $20.8 million, according to records filed Wednesday with the Federal Election Commission.

Earlier Wednesday, the Republican National Committee announced it raised $6.9 million in the month, ending January with no debt and $7.1 million in the bank.


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Don’t look at that man behind the curtain.

OhEssYouCowboys on March 1, 2013 at 3:25 PM

Unfortunately the truth, as usual, doesn’t matter.

The media trumpeted the lie.

The Low Information (IQ?) Voters slurped it up.

The truth, will be relegated to page 92 below the fold and forgotten.

This is a lot like playing football with Lucy, they keep doing the same trick over and over. By the time the LIV types figure out the game, it will be over.

CrazyGene on March 1, 2013 at 3:30 PM

Noticing the curtain itself is racist.

WitchDoctor on March 1, 2013 at 3:32 PM

What’s a convention? Anywho, I wonder who the Kardashian’s are fukcing at the moment?

- typical low info voter

NapaConservative on March 1, 2013 at 3:33 PM

This is a lot like playing football with Lucy, they keep doing the same trick over and over. By the time the LIV types figure out the game, it will be over.

CrazyGene on March 1, 2013 at 3:30 PM

It’s the same thing with Wile E. Coyote and that damned Roadrunner.

Chuck should’ve just kicked the shit out of Lucy.

OhEssYouCowboys on March 1, 2013 at 3:33 PM

Don’t look at that man behind the curtain.

OhEssYouCowboys on March 1, 2013 at 3:25 PM

You mean the one mooning the country every time he shows his face? Difficult to ignore…

Kraken on March 1, 2013 at 3:34 PM

The [DNC] ended [January] with about $4.7 million cash in the bank and an outstanding debt of nearly $20.8 million, according to records filed Wednesday with the Federal Election Commission.

Earlier Wednesday, the Republican National Committee announced it raised $6.9 million in the month, ending January with no debt and $7.1 million in the bank.

New Democrat Mantra –

GO FOR BROKE !!!

Jabberwock on March 1, 2013 at 3:37 PM

Corporations were evil, until they weren’t.

22044 on March 1, 2013 at 3:38 PM

You mean the one mooning the country every time he shows his face? Difficult to ignore…

Kraken on March 1, 2013 at 3:34 PM

He is the Great and powerful Oz!

- Majority of American Voters

OhEssYouCowboys on March 1, 2013 at 3:38 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 Political donation as a “Business Expense ” ?
And they get to lower their tax liability ?
What do they expect to gain for the $6 million ?

Bad Mojo going on here.

Jabberwock on March 1, 2013 at 3:42 PM

The [DNC] ended [January] with about $4.7 million cash in the bank and an outstanding debt of nearly $20.8 million, according to records filed Wednesday with the Federal Election Commission.

… and with the office of the President and a solid majority in the Senate. With the probable ability to appoint at least one if not two left wing communist and Constitutionally illiterate Supreme Court Justices in the next four years.

Earlier Wednesday, the Republican National Committee announced it raised $6.9 million in the month, ending January with no debt and $7.1 million in the bank.

… and with control of a single part of the Federal government. With a weak-spined liberal Speaker of the House who has now used the democrat minority and some fellow “moderate” Republicans to pass democrat sponsored bills over the wishes of the majority of Republican congressmen.

So, tell me again who is the smart party and who is the not so smart party?

AZfederalist on March 1, 2013 at 3:50 PM

He is the Great and powerful Oz Azz!

- Majority Minority of American Voters

OhEssYouCowboys on March 1, 2013 at 3:38 PM

Kraken on March 1, 2013 at 3:50 PM

A Political donation as a “Business Expense ” ?
And they get to lower their tax liability ?
What do they expect to gain for the $6 million ?

Bad Mojo going on here.

Jabberwock on March 1, 2013 at 3:42 PM

No, no, no! You’re not getting it!

This was not a political donation! It was a loan! Got that? A loan!

Yeah, it was a bad loan, and they knew the borrower would never be able to pay it back, but hey, that’s perfectly kosher in the housing loan industry in order to keep your bank out of trouble with the CRA, so what’s so different about this? It’s actually a bargain — only cost them a few 10′s of millions. Taxpayers got put on the hook for billions from the housing loan debacle. In both cases, the parties making the “loans” were buying political favor.

/s

AZfederalist on March 1, 2013 at 3:54 PM

AZfederalist on March 1, 2013 at 3:54 PM

Exactly, violating the spirit of the law regarding political contributions…although not violating the letter of the law.

22044 on March 1, 2013 at 3:59 PM

Exactly, violating the spirit of the law regarding political contributions…although not violating the letter of the law.

22044 on March 1, 2013 at 3:59 PM

If Duke “contributed” similarily to the Republican Convention, I would have little beef with this.
Otherwise, it’s a blatently political donation.

Jabberwock on March 1, 2013 at 4:11 PM

Read the original story in the Charlotte Observer:

http://www.charlotteobserver.com/2013/03/01/3885178/duke-energy-wont-be-repaid-from.html

A couple of excerpts:

Duke’s convention support wasn’t limited to the credit line.

The company donated $1.5 million in in-kind contributions to the host committee for office space, furniture and other expenses. Rogers personally gave $339,000 in cash and in-kind services, including the hiring of a fundraising assistant.

Duke also gave $4.1 million to a separate fund that could accept corporate money to put on parties boosting the city.

So we’re up to almost $16 million.

Some watchdog groups charged that Duke’s money would buy the highly-regulated company unfair influence with Obama administration officials.

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.

Gee, why would anyone bring up influence-peddling in this situation?

Owen Glendower on March 1, 2013 at 4:29 PM

They say the arrangement raises serious conflict-of-interest issues for Mr. Obama and challenges his claim to be committed to disclosure and transparency.

Oh, look! Someone is just waking up!

GarandFan on March 1, 2013 at 4:45 PM

If Duke “contributed” similarily to the Republican Convention, I would have little beef with this.
Otherwise, it’s a blatently political donation.

Jabberwock on March 1, 2013 at 4:11 PM

In my opinion, two “wrongs” wouldn’t make a right, but I get your point.

22044 on March 1, 2013 at 4:46 PM

The large Energy companies don’t have a single care in the world when it comes to environmental regulation.

Unlike heavy industry, energy companies face no foreign competition. There is localized competition, but due to government regulation one would hardly call it competition.

If the EPA requires them to add expensive pollution controls, they hardly resist. They are able to directly pass the cost on to consumers. As long as the environmental rules apply across the board to energy companies, you will not see them fight with anything more than what is required to convince rate payers that they tried their best.

In fact, I would argue that the large energy companies love additional regulation. It narrows the playing field to the point that only the big boys can play, while allowing them to raise prices. Raising prices and keeping margins the same allows for larger profits.

One of the situations where a market-based economy breaks down due to government interference.

Meanwhile, heavy industrials get hammered by environmental regulations and are unable to pass the costs along wihtout losing market to imports. Add in the increased energy costs for those manufacuterers due to Energy companies rolling over and you get a double whammy that explains the loss of over 6 million high paying manufacturing jobs since 1998.

The only ones defending energy companies from increased regulations are the manufacturers. It is extremely hard to defend someone who won’t defend themself.

This disgusts me. Duke has a few manufacturing guys on their board. I simply cannot for the life of me understand how they could have approved of this.

weaselyone on March 1, 2013 at 4:48 PM

Gee, why would anyone bring up influence-peddling in this situation?

Owen Glendower on March 1, 2013 at 4:29 PM

There is much more to the story, but let’s just think green and everything will be fine.

whbates on March 1, 2013 at 4:49 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.

Um, does this mean that the taxpayers, in the form of $4,000,000 of decreased tax revenue, are covering the balance of the $10,000,000?!?!

talkingpoints on March 1, 2013 at 5:32 PM

Um, does this mean that the taxpayers, in the form of $4,000,000 of decreased tax revenue, are covering the balance of the $10,000,000?!?!

talkingpoints on March 1, 2013 at 5:32 PM

You act like funding Democrats with taxpayer money is something entirely new.

weaselyone on March 1, 2013 at 5:37 PM

Absolutely wonderful.

My power goes out every time it storms. The grid in our neighborhood is 40+ years old and has not been touched and my utility is giving out $10,000,000 to this cluster.

Of course, it does confirm his goal of having us all living in mud huts, cooking on dung fires and wiping our arse with our hands. My neighborhood is just closer to his dream than most.

acyl72 on March 1, 2013 at 6:05 PM