Don't worry about $10 million lost in DNC default
Posted in the Minneapolis Forum
Saint Paul, MN
#1 Mar 2, 2013
Duke and its' subsidiary will get it all back and more from Dems that regulate energy rates.
Progress agrees to cut proposed rate hike; Duke Energy rate case set for July
Progress Energy Carolinas has agreed to cut its proposed 11 percent rate increase to a total of 5.7 percent.
Staff The Business Journal
Progress Energy Carolinas has agreed to cut its proposed 11 percent rate increase to a total of 5.7 percent phased in over two years in a deal with North Carolina’s utility customers’ advocate, the Charlotte Business Journal reports.
The public staff of the N.C. Utilities Commission filed notice of the deal Monday afternoon. Rates overall will increase 4.7 percent on June 1. An increase of 1 percent more will occur June 1, 2014.
That reduces what would have been $359 million in additional revenue from rates for Progress to a total of $151.4 million this year with $31.4 million more added next year. That cuts the increase by more than 49 percent.
Almost $85 million was cut out of the rate hike by reducing a key component on return on equity sought by Progress.
An evidentiary hearing on the rate increase starts before the commission in mid-March.
Meanwhile, the Charlotte Business Journal also reports the commission will hold an evidentiary hearing on Duke Energy Carolinas’ proposed 9.7 percent rate increase on July 8 in Raleigh. A series of six public hearings will be held beginning in late May throughout the western half of the state for customers and interest groups to comment on the rate increase, including at the Forsyth County Courthouse in Winston-Salem at 7 p.m. June 19.
#2 Mar 2, 2013
Let's move the goal posts BACK !!! LMAOROFU~!
THERE WAS NO DEFAULT AND YOU'RE EITHER AN IDIOT or KNOW IT !!!!
Let's see, the DNC was Sept 3-6 and the share holders were told in November ???
While you "call it", ".. 6 months after the fact again?"
Sorry pal, you're wrong, yet again....
The actual point was Duke supported Obama, but Koch Brothers did the same with Romney...soooo ?
Saint Paul, MN
#3 Mar 2, 2013
Which party made a big deal about not taking any corporate money to fund their national convention again? Let me give you a hint, it begins with a "D".
Duke’s financial support of Charlotte’s biggest event became a political football soon after the credit guarantee was announced in early 2011. Sidewalk protesters from FreedomWorks, a conservative group, waved “Fire Jim Rogers” signs as Duke’s CEO presided over the company’s annual meeting that spring.
Some shareholders also objected.
Concord stock owner Bonny Stilwell questioned Rogers, who led fundraising for the host committee, about the line of credit at an August 2011 meeting to vote on Duke’s merger with Progress Energy.
“If it was something he wanted Duke Energy to do,” she said then,“it should have been his $10 million and not the shareholders’.”
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.
Duke and Progress Energy each got $200 million in federal stimulus money for smart grid improvements in 2009.
Dan Murrey, the host committee’s executive director, could not be reached for comment.
The line of credit wasn't with the utility company, it was with a bank and guaranteed by the utility company. For the utility company to have to pay, the DNC had to default on the line of credit.
How could it be good for local business for the DNC to default at the bank 6 months after the fact again?
To be the amused slewchebag, or not to be the amused slewchebag, that is the question:
Whether 'tis Nobler in the mind to suffer
The Slings and Arrows of the outrageous bushwhacked,
Or to take Arms against a Sea of smart liberals,
And by opposing end them: to die, to sleep
No more; and by a sleep, to say we end
The Heart-ache, and the thousand Natural shocks
That Flesh is heir to?'Tis a consummation
Devoutly to be wished. To die to sleep,
To sleep, perchance to Dream; Aye, there's the rub,
For in that sleep of death, what dreams may come,
When we have shuffled off this mortal coil, will any remember you were once the spell check princess of topix?
#4 Mar 2, 2013
The national political group that helped Governor Christie win his long-shot campaign against a millionaire opponent four years ago, and could play an important role in his future, is a little-scrutinized heavy hitter that spent nearly $100 million on gubernatorial campaigns last year alone, records show.
The Republican Governors Association raised that money — with Christie serving as its vice chairman, and in line to become chairman next year if he is reelected — by offering wealthy donors and corporations one-stop shopping for a chance to influence the people who can veto state laws around the country.
And the funds included more than $700,000 from New Jersey donors, including contractors helping the state recover from superstorm Sandy and industries that would be barred by the state from contributing directly to Christie. The RGA is free to use money from restricted New Jersey sources to help Christie if it spends it without coordinating directly with his campaign.
The association is not shy about what it promises to businesses that contribute.
For $250,000, for example, a corporate donor last year could buy what the group itself called “unparalleled access” to the nation’s GOP governors, including tickets to private meetings with them and their aides in Washington, Las Vegas and Virginia. The association even gave them a title:“Statesman.”
The prospectus sent by the group to potential donors in 2012 also offered lower tiers of corporate membership, from $10,000 “Roundtable” status — allowing small business leaders to “lend their expertise” to the governors — to “Cabinet” membership that includes the ability to “regularly engage with the governors and their senior staff.”
In between are the $25,000 Governors Council and the $50,000 Governors Board.
“Board members work in an advisory capacity,” the prospectus said,“to work together to find solutions to tax, education, crime, health care and environmental policy issues.”
The full calendar of events includes policy summits, lunches, even a golf tournament and ski retreat. And with each step up the donation ladder, the number of invitations grows, and the level of contact with officials becomes more and more intimate.
An association spokesman Mike Schrimpf declined a request for an interview but said in an email that the association is committed to electing Republican governors and follows all applicable laws, including disclosing its donations at least twice a year.
“The RGA is organized exactly the same way as the Democratic Governors Association,” Schrimpf said.
Critics, however, say it takes advantage of gaps in campaign finance laws and plays an influential role in state elections without facing most of the restrictions that other state campaign finance laws around the country set.
“It’s one of the least understood and most important political organizations in the country,” said John Dunbar of the Center for Public Integrity, a non-partisan group that studied the association’s role in the 2010 and 2012 elections.“They become involved in state elections, and game election law to get around various restrictions on contributions.”
The GOP organization outperformed the Democratic Governors Association in fundraising by a 2-to-1 ratio last year, taking in nearly $100 million, according to the Center for Public Integrity.
- See more at: http://www.northjersey.com/news/national/nati...
#5 Mar 2, 2013
Who know what might have happened, if both parties agreed, since your wouldn't. Guess, you're simply a sore loser and after your Governor BOUGHT AN ELECTION, too ?? LMAOROTU~! Pretty sad, you cannot see the NOSE ON YOUR RED FACE ~!!!!
Saint Paul, MN
#8 Mar 5, 2013
Borrow it from China.
#9 Mar 5, 2013
Poor Schmahl, not an original thought in his head.
Saint Paul, MN
#10 Mar 5, 2013
Another loan from China..
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