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“The one and only Smart Liberal”

Since: Aug 12

Former MN Tax Payer

#1 Mar 1, 2013
DNC won’t repay Duke Energy for Charlotte convention costs

By Susan Crabtree

The Washington Times
Friday, March 1, 2013


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. At the end of January a Duke Energy spokesman referred all questions about the loan to Dan Murrey, a surgeon in Charlotte who was chairman of the convention host committee.

Mr. Murrey told The Washington Times only that the line of credit was with two banks — Bank of America and Mechanics & Farmers Bank, which is headquartered in Charlotte. Duke Energy had guaranteed the line of credit.

“We are still finishing up some collections and disbursements related to the convention, and the account is still open,” Mr. Murrey wrote in an emailed response.

He did not respond to questions about the terms of the loan, how much had been paid off, or whether the host committee must make monthly payments with a deadline for full repayment.

A follow-up email restating the questions went unanswered.
http://www.washingtontimes.com/news/2013/mar/...
liBeRALs

Saint Paul, MN

#2 Mar 1, 2013
DEADBEAT DNC - no surprise there.
Bushwhacker

Seattle, WA

#3 Mar 2, 2013
Duke Energy, which is headquartered in Charlotte, announced Thursday that it would forgive the Democratic Party of its unpaid loans, instead leaving shareholders to cover $6 million, according to the Charlotte Observer.

Why would you repay money to someone who forgave the loan ???

Scanzoni told The Huffington Post Friday that Duke’s involvement in the DNC was an “economic development event” for Charlotte.

Oh sorry, I forgot you believe in an "advantage" for your loser party.... Of course, all you had to do was agree on campaign reform for BOTH... but you didn't.
Why

Saint Paul, MN

#4 Mar 2, 2013
Just another IrishMN lie.

Is the MN GOP paying it's rent these days?
Bushwhacker

Seattle, WA

#5 Mar 2, 2013
Mired in debt and struggling to stave off financial collapse, the Republican Party of Minnesota did not pay rent on its St. Paul headquarters for at least the first two months of this year, according to a confidential party memo.

Months after a financial review revealed debt that shocked even party leaders, the delinquent lease payments are just the latest setback for the state GOP, which owes almost $2 million to creditors and which remains under investigation by the state campaign finance board.

State GOP Chairman Pat Shortridge declined to discuss whether the party is currently paying its rent, but an internal budget spreadsheet shared with Executive Committee members provides insight into the party's bleak budget situation.

At the end of February, revenue was 43 percent below projection, a predicament that left accountants unable to negotiate payments on some past-due accounts. The tab also includes credit card debt, maxed-out lines of credit, and checks that were reported as paid but that were never sent to vendors.
non-starter

Saint Paul, MN

#6 Mar 2, 2013
Why wrote:
Just another IrishMN lie.
Is the MN GOP paying it's rent these days?
A lie? You mean like the lie that the DNC wouldn't take money from corporate sponsors for the Democratic convention?

http://en.wikipedia.org/wiki/2012_Democratic_...

Funding

The Democratic Party announced in February 2011 that it would not accept corporate donations to fund the convention.[63] This decision was made to increase the party's populist appeal and create distance from Bank of America and the financial industry.[64] As of June, 2012, the convention was $27 million short of its fundraising goals and consequently canceled some planned events.[65](The last DNC raised $33 million from corporate donors.)[66]

The Obama campaign has also received less in union donations than it did in 2008.[52][53]

Corporate sponsors can make in-kind donations such as transportation, as well as host parties.[63] They can also donate to a non-profit called "New American City, Inc.", which is run by the directors of the convention host committee.[52] New American City, incorporated on April 4, 2011, exists to "defray administrative expenses incurred by the host committee organizations".(The host committee, in turn, provides "goods, facilities, equipment and services".)[67]

Donors to this group include Bank of America, Wells Fargo and Duke Energy.[68]

The Party's convention funds are stored in a Bank of America account.[52] The convention also has a $10 million line of credit available from Duke Energy.

Sounds like the DNC took $10 million from Duke Energy. If a $10 loan was forgiven to you or I, we would get a 1099C and have to declare that $10 million as taxable income.

Sounds like Dumbo is the liar, along with the DNC, that wasn't going to accept corporate money to put on the DNC.
Bushwhacker

Seattle, WA

#7 Mar 2, 2013
Since your party took corporate money, the DNC had to, in the interest of fairness... Poor Trashy, you wouldn't understand.
non-starter

Saint Paul, MN

#8 Mar 2, 2013
Bushwhacker wrote:
Since your party took corporate money, the DNC had to, in the interest of fairness... Poor Trashy, you wouldn't understand.
You could be dumber, but then you would likely be unable to type. The DNC said it wouldn't take donations from corporate sponsors, then set up a special account to take money from corporate sponsors, then defaulted on a $10 million line of credit taken out by the DNC with Duke energy guaranteeing the loan.

It is the height of hypocrisy to claim you won't take corporate money and make a big deal about not taking corporate money, then quietly take it under a cover of secrecy later. DNC, run by professional liars.
Why

Saint Paul, MN

#9 Mar 2, 2013
non-starter wrote:
<quoted text>A lie? You mean like the lie that the DNC wouldn't take money from corporate sponsors for the Democratic convention?
http://en.wikipedia.org/wiki/2012_Democratic_...
Funding
The Democratic Party announced in February 2011 that it would not accept corporate donations to fund the convention.[63] This decision was made to increase the party's populist appeal and create distance from Bank of America and the financial industry.[64] As of June, 2012, the convention was $27 million short of its fundraising goals and consequently canceled some planned events.[65](The last DNC raised $33 million from corporate donors.)[66]
The Obama campaign has also received less in union donations than it did in 2008.[52][53]
Corporate sponsors can make in-kind donations such as transportation, as well as host parties.[63] They can also donate to a non-profit called "New American City, Inc.", which is run by the directors of the convention host committee.[52] New American City, incorporated on April 4, 2011, exists to "defray administrative expenses incurred by the host committee organizations".(The host committee, in turn, provides "goods, facilities, equipment and services".)[67]
Donors to this group include Bank of America, Wells Fargo and Duke Energy.[68]
The Party's convention funds are stored in a Bank of America account.[52] The convention also has a $10 million line of credit available from Duke Energy.
Sounds like the DNC took $10 million from Duke Energy. If a $10 loan was forgiven to you or I, we would get a 1099C and have to declare that $10 million as taxable income.
Sounds like Dumbo is the liar, along with the DNC, that wasn't going to accept corporate money to put on the DNC.
Nice of you to dive in and try to change the meaning and pupose of Irish's thread. Irish presents it as the DNC stiffing creditors. You take a a different route in denial of the real topic at hand, the Lying Eyes of IrishMN.

Start your own thread or go back to complaining about Eagan.
non-starter

Saint Paul, MN

#10 Mar 2, 2013
Why wrote:
<quoted text>
Nice of you to dive in and try to change the meaning and pupose of Irish's thread. Irish presents it as the DNC stiffing creditors. You take a a different route in denial of the real topic at hand, the Lying Eyes of IrishMN.
Start your own thread or go back to complaining about Eagan.
Nice deflection Dumbo. Since we get to make up rules, maybe you should post under a single moniker instead of 40+ monikers. The DNC defaulted on a $10 million line of credit to Duke energy, even though there was probably money left in Obama's campaign funds to cover it. Sounds like a defacto $10 million donation from Duke Energy to the DNC to me, or don't you believe that money is fungible?
Smarter Liberal

Seattle, WA

#11 Mar 2, 2013
non-starter wrote:
<quoted text>You could be dumber, but then you would likely be unable to type. The DNC said it wouldn't take donations from corporate sponsors, then set up a special account to take money from corporate sponsors, then defaulted on a $10 million line of credit taken out by the DNC with Duke energy guaranteeing the loan.
It is the height of hypocrisy to claim you won't take corporate money and make a big deal about not taking corporate money, then quietly take it under a cover of secrecy later. DNC, run by professional liars.
They took money ?? I read the debt was forgiven... Seems, even in your twisted "mind", no money changed hands !!! Funny, your party refused the concept, so you hold the DNC to a higher standard ?? Hardly seem fair ...Good luck !!! LMAOROTFU~!
non-starter

Saint Paul, MN

#12 Mar 2, 2013
Smarter Liberal wrote:
<quoted text>They took money ?? I read the debt was forgiven... Seems, even in your twisted "mind", no money changed hands !!! Funny, your party refused the concept, so you hold the DNC to a higher standard ?? Hardly seem fair ...Good luck !!! LMAOROTFU~!
You could be dumber, but then you would likely be unable to type. The DNC said it wouldn't take donations from corporate sponsors, then set up a special account to take money from corporate sponsors, then defaulted on a $10 million line of credit taken out by the DNC with Duke energy guaranteeing the loan.

It is the height of hypocrisy to claim you won't take corporate money and make a big deal about not taking corporate money, then quietly take it under a cover of secrecy later. DNC, run by professional liars.
non-starter

Saint Paul, MN

#13 Mar 2, 2013
Smarter Liberal wrote:
<quoted text>They took money ?? I read the debt was forgiven... Seems, even in your twisted "mind", no money changed hands !!! Funny, your party refused the concept, so you hold the DNC to a higher standard ?? Hardly seem fair ...Good luck !!! LMAOROTFU~!
DNC - We won't take money from corporate sponsors, then, in fine print :

Corporate sponsors can make in-kind donations such as transportation, as well as host parties.[63] They can also donate to a non-profit called "New American City, Inc.", which is run by the directors of the convention host committee.[52] New American City, incorporated on April 4, 2011, exists to "defray administrative expenses incurred by the host committee organizations".(The host committee, in turn, provides "goods, facilities, equipment and services".)[67] From Wikipedia. http://en.wikipedia.org/wiki/2012_Democratic_...

Then, after taking money from corporate sponsors, default on a $10 million line of credit guaranteed by "Duke Energy", evidently a non-corporate sponsor, since the DNC took no money from corporate sponsors. If you, or I defaulted on a loan, and the person that made the loan took a $10 million write off on their taxes, the IRS would treat that $10 million as income for us and come after us for income taxes.

Hypocrisy - from Wikipedia - the state of promoting or trying to enforce standards, attitudes, lifestyles, virtues, beliefs, principles, etc., that one does not actually hold.

The DNC - hypocrisy is our goal.
Why

Saint Paul, MN

#14 Mar 2, 2013
non-starter wrote:
<quoted text>Nice deflection Dumbo. Since we get to make up rules, maybe you should post under a single moniker instead of 40+ monikers. The DNC defaulted on a $10 million line of credit to Duke energy, even though there was probably money left in Obama's campaign funds to cover it. Sounds like a defacto $10 million donation from Duke Energy to the DNC to me, or don't you believe that money is fungible?
Looks like we need to address some definitions:

Staying on topic is not "deflection".

"Default" - A failure to pay back a loan.

"Forgiven" - No need to pay back the loan.

You can not default on a forgiven loan.

If you believe money is fungible you have eliminated your original objection.

Finally, the big bad "Le Jumbo" card.

I am not he, he is not me. I post under different names but only one per day. I'm on here once, maybe twice a week. Every time I'm on here somebody accuses me of the multiple name thing. Funny and sad all in one package.
non-starter

Saint Paul, MN

#15 Mar 2, 2013
Why wrote:
<quoted text>
Looks like we need to address some definitions:
Staying on topic is not "deflection".
"Default" - A failure to pay back a loan.
"Forgiven" - No need to pay back the loan.
You can not default on a forgiven loan.
If you believe money is fungible you have eliminated your original objection.
Finally, the big bad "Le Jumbo" card.
I am not he, he is not me. I post under different names but only one per day. I'm on here once, maybe twice a week. Every time I'm on here somebody accuses me of the multiple name thing. Funny and sad all in one package.
First, you deflected to the MN GOP.

2nd, it was the DNC's line of credit with Duke guaranteeing the line of credit. The DNC defaulted, or Duke wouldn't have had to pay up. Duke then forgave the DNC, however, it becomes a donation at that point, since Duke never intended to pay the $10 million. In addition, the DNC had said it would not accept corporate donations, and this ends up being a $10 million corporate donation to the DNC.
non-starter

Saint Paul, MN

#16 Mar 2, 2013
Why wrote:
<quoted text>
Looks like we need to address some definitions:
Staying on topic is not "deflection".
"Default" - A failure to pay back a loan.
"Forgiven" - No need to pay back the loan.
You can not default on a forgiven loan.
If you believe money is fungible you have eliminated your original objection.
Finally, the big bad "Le Jumbo" card.
I am not he, he is not me. I post under different names but only one per day. I'm on here once, maybe twice a week. Every time I'm on here somebody accuses me of the multiple name thing. Funny and sad all in one package.
My money is fungible point means that the $10 million loan forgiven by Duke Energy will be available for the Democratic National Committee to spend on campaigns next election cycle.
Bushwhackers Uncle Daddy

Grantsburg, WI

#17 Mar 2, 2013
Sheeeeet!

Dat be somb ub dat free mo money. Don't nobody need pay that!

It all be gots Cumbunity Orgasmized!

What is wrong with America again?
non-starter

Saint Paul, MN

#20 Mar 2, 2013
Why wrote:
Just another IrishMN lie.
Is the MN GOP paying it's rent these days?
So you called it a lie, then didn't say why it was a lie? Seems like you have a very pronounced bias.
Bushwhacked

Seattle, WA

#21 Mar 2, 2013
It's a lie of omission/implication. There's no debt to repay.

Pretty sad, you use semantics to pretend to have a point, yet our country see through it, so you rewind/repeat.

If your life is so lousy, CHANGE IT !!

Funny, you said you're not here weekends, must be mid-week in your time zone, right liar ? LMAOROTFU~!
Bushwhacked

Seattle, WA

#22 Mar 2, 2013
You implied they owed money, but they don't since the obligation was forgiven. Funny, you used deceit to make no point and are actually proud of it, under another lying moniker ???

Poor TrashyLiar, life's a game and you're a loser...

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