liBeRALs

Saint Paul, MN

#80 Mar 4, 2013
Duke guaranteeing $10 million line of credit for DNC

Energy firm says it protects against cash shortfall; critics say it's like a contribution.

By Jim Morrill
jmorrill@charlotteobserver.com

Posted: Saturday, Mar. 12, 2011


Duke Energy Corp., whose CEO is leading the fundraising for the Democratic National Convention, is guaranteeing a $10 million line of credit for the event.

The credit line from Fifth Third Bank is apparently the first time such an arrangement has been used by any Democratic convention organizers.

A Duke spokesman said stockholders, not rate-payers, would be on the line if the convention's host committee defaults. But the head of the committee said it may never have to draw on the money.

Read more here: http://www.charlotteobserver.com/2011/03/12/2...
non-starter

Saint Paul, MN

#81 Mar 4, 2013
I guess we know now of your duplicity, slew jumbo.

http://www.huffingtonpost.com/2013/03/01/duke...

Duke Energy To Forgive $10 Million Line Of Credit To DNC

The Huffington Post | By Chelsea Kiene Posted: 03/01/2013 5:24 pm EST | Updated: 03/01/2013 5:28 pm EST

The Democratic National Committee will not have to repay the full $10 million line of credit from Duke Energy -- the country’s largest electric power company -- used to fund the 2012 Democratic National Convention, contradicting the committee’s self-imposed prohibition on corporate funding for the Charlotte-based event.

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.

Duke spokesman David Scanzoni defended the company’s move to the Charlotte Observer, explaining that the impact on stakeholders was minimum at best.

“That’s a (large) sum of money, but it did not have a large impact to shareholders,” Scanzoni told the publication.“For most stockholders, it’s not on their radar.”

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

The DNC did not respond to a request for comment from The Huffington Post.

In 2011, the DNC made an unprecedented decision to ban direct corporate donations to the host committee -- co-chaired by Duke CEO Jim Rogers -- in an effort to reinforce the party’s middle-class, grassroots messaging.

“This convention and the new way it is being financed will allow more people from all over the country to be involved in this historic event,” Brad Woodhouse, the Democratic Party communications director, said in a 2011 statement.“This unprecedented step is another sign that things are continuing to change under President Obama’s leadership and that this will, in fact, be the ‘People’s Convention.’”

After struggling to raise money, the DNC backed away from its corporate contribution ban, using the host committee to establish a separate -- but closely affiliated -- entity named New American City, Inc. The new entity openly solicited high-dollar donations, including corporate contributions, to cover convention costs. Duke Energy was one of the three largest donors to the group.

Although it is legal for corporate donors to give financial and in-kind contributions to convention host committees, Duke’s decision to dismiss the DNC’s massive debt brought accusations of political hypocrisy and corporate favoritism.

Reince Priebus, chairman of the National Republican Committee -- called out Democrats over Twitter on Friday, calling the loan forgiveness a “$10 Million Payday” for the DNC.

Watchdog groups are also skeptical of the once-loan-turned-gift, claiming that the $10 million line of credit gives the company, including Rogers, unfair influence in the Obama administration.

Their skepticism is not unfounded: last fall, The Huffington Post reported that,“If the convention goes without a hitch, it would go far to solidify Rogers’ position within the ranks of the political elite -- and help him leapfrog onto the shortlist of potential administration officials Obama could appoint in a second term.”

The report continued,“All of this rubbing elbows provides Duke Energy with enormous intangible benefits. As Rogers told the Wall Street Journal this spring,‘If you’re not at the table, you’re going to be on the menu.’”

Scanzoni told HuffPost that the company was not attempting to win favor with the Obama administration via its involvement in the convention.

In addition to the $10 million loan and $4.14 million contribution to New American City, the Charlotte Observer reported that Duke Energy also donated $1.5 million in in-kind contributions toward the Democratic convention. Rogers personally gave $339,000 -- which included a fundraising assistant marked as an in-kind donation.
liBeRALs

Saint Paul, MN

#82 Mar 4, 2013
Nowhere does it say that the DNC guarantied this line of credit.

Are you going to admit you lied again now?

Of course not. You were the twerp that posted the Walmart LOST $6 billion dollars last year when in fact the MADE $6 billion. But you never admited you lied on that one, either.
non-starter

Saint Paul, MN

#83 Mar 4, 2013
From your post Slew Jumbo,

Duke Energy Corp., whose CEO is leading the fundraising for the Democratic National Convention, is guaranteeing a $10 million line of credit for the event.

The credit line from Fifth Third Bank is apparently the first time such an arrangement has been used by any Democratic convention organizers.

The credit line was from a bank, guaranteed by Duke energy. For Duke to pay, the DNC defaulted.

Is your reading comprehension always this poor?
liBeRALs

Saint Paul, MN

#84 Mar 4, 2013
non-starter wrote:
From your post Slew Jumbo,
Duke Energy Corp., whose CEO is leading the fundraising for the Democratic National Convention, is guaranteeing a $10 million line of credit for the event.
The credit line from Fifth Third Bank is apparently the first time such an arrangement has been used by any Democratic convention organizers.
The credit line was from a bank, guaranteed by Duke energy. For Duke to pay, the DNC defaulted.
Is your reading comprehension always this poor?
Nowhere does it say that the DNC guarantied this line of credit.

Is YOUR reading comprehension always this poor?
non-starter

Saint Paul, MN

#85 Mar 4, 2013
liBeRALs wrote:
<quoted text>
Nowhere does it say that the DNC guarantied this line of credit.
Is YOUR reading comprehension always this poor?
So the DNC gets a line of credit from a bank, and it is just there, no acountability, no traceability, no guarantee? I think the FEC should look into this.

You don't get a line of credit from a bank without agreeing to repay Slew Jumbo, end of story. Duke guaranteed the line of credit from the bank, co-signed if you will. You can't spin this one, the Huff Post isn't even trying to.
Consistent

Grantsburg, WI

#86 Mar 4, 2013
Oh my!

Another American Corporation whose investors were ripped off by the "Community Activist Shuffle"?

I like Demokrats, they are so Honorable.
Consistent

Grantsburg, WI

#87 Mar 4, 2013
If you run with Dogs, you get Fleas!
Consistent

Grantsburg, WI

#88 Mar 4, 2013
Oh, By the way.......One need not spend to much time or effort trying to figure out how America became Amerika.

Just look at the distorted values of the "Defenders" of the Criminal Demokrats here on Topix.

The great thing about the Situational Ethics of yer Basic Amerikan Demokrat Sheeple, is that no "Ethics" allows the Defectives to modify their Core Values to fit the Situation.

And "we the people" allow these scumbags to vote!
liBeRALs

Saint Paul, MN

#89 Mar 4, 2013
non-starter wrote:
<quoted text>So the DNC gets a line of credit from a bank, and it is just there, no acountability, no traceability, no guarantee? I think the FEC should look into this.
You don't get a line of credit from a bank without agreeing to repay Slew Jumbo, end of story. Duke guaranteed the line of credit from the bank, co-signed if you will. You can't spin this one, the Huff Post isn't even trying to.
There is nothing to spin. You Republicans keep trying to make something out of nothing, and it isn't working.
non-starter

Saint Paul, MN

#90 Mar 4, 2013
The DNC gets a line of credit from a bank, and it is guaranteed by Duke Energy.

You don't get a line of credit from a bank without agreeing to repay Slew Jumbo, end of story. Duke guaranteed the line of credit from the bank, co-signed if you will. You can't spin this one, the Huff Post isn't even trying to.
liBeRALs

Saint Paul, MN

#91 Mar 4, 2013
There is nothing to spin. You Republicans keep trying to make something out of nothing, and it isn't working.

Duke Energy paid the line of credit in full, there is no issue here.
non-starter

Saint Paul, MN

#92 Mar 4, 2013
You don't get a line of credit from a bank without agreeing to repay, Slew Jumbo, end of story. Duke guaranteed the line of credit from the bank, co-signed if you will. The DNC defaulted on the line of credit at the bank, and Duke Energy was on the hook to repay it.
redeemer

Minneapolis, MN

#93 Mar 4, 2013
Consistent wrote:
If you run with Dogs, you get Fleas!
You should know Bugs!
Consistent

Grantsburg, WI

#94 Mar 4, 2013
redeemer wrote:
<quoted text>You should know Bugs!
Defective,

Give us your "Plantation Perspective" on the issue of the ripping off of an American Business as an Official Act of the Demokrat Victims Party in order to stage the Kool Aid Event that they put on for you Sheeple in 2012 in Norf Carolina.
redeemer

Minneapolis, MN

#95 Mar 4, 2013
non-starter wrote:
The DNC gets a line of credit from a bank, and it is guaranteed by Duke Energy.
You don't get a line of credit from a bank without agreeing to repay Slew Jumbo, end of story. Duke guaranteed the line of credit from the bank, co-signed if you will. You can't spin this one, the Huff Post isn't even trying to.
You must have gotten your information from Randolph and Mortimer Duke!
redeemer

Minneapolis, MN

#96 Mar 4, 2013
Consistent wrote:
<quoted text>
Defective,
Give us your "Plantation Perspective" on the issue of the ripping off of an American Business as an Official Act of the Demokrat Victims Party in order to stage the Kool Aid Event that they put on for you Sheeple in 2012 in Norf Carolina.
you should should spray some raid in your long nose.
Consistent

Grantsburg, WI

#97 Mar 4, 2013
redeemer wrote:
<quoted text>
You must have gotten your information from Randolph and Mortimer Duke!
Give us the "Truth" about this from the Urban Cesspool. What are the "Folk" down at the Gubernment Center saying in the Welfare Line?
non-starter

Saint Paul, MN

#98 Mar 4, 2013
redeemer wrote:
<quoted text>
You must have gotten your information from Randolph and Mortimer Duke!
Nope, just Wikipedia, Reuters, Huffington Post, and the Charlotte Observer. All agree the DNC had a line of credit with a bank that Duke Energy guaranteed. When the DNC defaulted, Duke Energy had to pay up. Since the DNC had put a ban on taking money from corporate donors, I hope the FEC investigates.
redeemer

Minneapolis, MN

#99 Mar 4, 2013
Consistent wrote:
<quoted text>
Give us the "Truth" about this from the Urban Cesspool. What are the "Folk" down at the Gubernment Center saying in the Welfare Line?
You should tell the truth sometimes peckerwood trash!
byhahahaha

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Minneapolis Discussions

Title Updated Last By Comments
Louisiana teachers accused of group sex with st... 2 hr space ace 6
Vehicle License Tabs 3 hr Snoop 2
Jihadi John Identified 6 hr cowboy chris 2
U of M refuses to describe criminals 6 hr FOVR 9
Message Of Hope To Minnesota Veterans From Kore... 6 hr FOVR 7
Global warming 'undeniable,' scientists say (Jul '10) 6 hr litesong 33,904
Review: State Wide Protective Agency (Jul '11) 7 hr Karma 123
Minneapolis Dating
Find my Match
More from around the web

Minneapolis People Search

Addresses and phone numbers for FREE

Personal Finance

Mortgages [ See current mortgage rates ]

NFL Latest News

Updated 11:02 am PST

Yahoo! Sports11:02AM
Vikings rusher Peterson reinstated by US judge
ESPN11:20 AM
On Adrian Peterson: 2/26
ESPN11:51 AM
Judge Rules Against NFL In Peterson's Appeal
Yahoo! Sports12:09 PM
U.S. judge rules for Vikings' Peterson in NFL discipline case
Yahoo! Sports12:25 PM
Brandon Bostick befriends someone who understands his mistake