Drudge Retort: The Other Side of the News
Saturday, March 02, 2013

Duke Energy won't be repaid the $10 million line of credit it guaranteed for Charlotte to host last year's Democratic National Convention, the company confirmed Thursday. As the credit line came due, Duke made official what it had signaled to shareholders in an earnings report last November. Because Duke can claim the money as a business expense for tax purposes, shareholders will foot $6 million of the cost.

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The $10 million took 1 cent off Duke's 2012 earnings, when the nation's biggest utility earned $1.7 billion. Company CEO Jim Rogers said the loan was good for Charlotte and Duke Energy and would have been extended to a Republican convention. "At the end of the day we'll do our best to get our money back," he said in January. "But if we don't, it's just a contribution we're making I think for the greater good of our community."

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In other words, it's an illegal campaign contribution and don't expect Holder to prosecute.

#1 | Posted by Diablo at 2013-02-28 09:07 PM | Reply | Flag:

Exactly, nothing to see here move on. The most transparent open Presidency..

BTW Where have ALL Obama's top cabinet people gone since departure?????

#2 | Posted by DavetheWave at 2013-03-01 07:44 AM | Reply | Flag:

Latest figures show Obama campaign war chest approaching $1 billion

www.csmonitor.com

Can't cry poverty on this one

#3 | Posted by paneocon at 2013-03-01 08:56 AM | Reply | Flag:

Not true!!!
- ThinkProgress/MediaMatters -

#4 | Posted by KBM at 2013-03-01 10:38 AM | Reply | Flag:

Not true!!!
- ThinkProgress/MediaMatters -

#4 | Posted by KBM

This message sponsored by Michelle Malkin, Gateway Pundit, and Sweetness and Light.

#5 | Posted by nullifidian at 2013-03-01 10:59 AM | Reply | Flag:

The loan should be repaid in full by the DNC, but it's chump change to Duke Energy, which has its headquarters in Charlotte. Any big corporation would do the same in its hometown. I'm surprised any shareholder complained.

#6 | Posted by rcade at 2013-03-01 11:37 AM | Reply | Flag:

Somebody should let Debbie know she hasn't paid the bills.

#7 | Posted by Dalton at 2013-03-01 11:49 AM | Reply | Flag:

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 said it expected no favoritism from the administration, noting it had agreed with Democrats on some issues but sided with Republican positions on others.

#8 | Posted by DavetheWave at 2013-03-02 03:17 PM | Reply | Flag:

Of course some complain, you will never get 100% consensus on ANY thing an organization does. Most large corporations give to both parties.

Just ask Pepe Fanjul of New Hope Sugar Refinery! Largest private corp buyout by any Gov. organization ever! Oh and he was talking with bill c during his moment with Monica...............

www.nytimes.com

#9 | Posted by DavetheWave at 2013-03-02 03:21 PM | Reply | Flag:

In other words, it's an illegal campaign contribution and don't expect Holder to prosecute.
#1 | POSTED BY DIABLO AT 2013-02-28 09:07 PM | FLAG:

Exactly, nothing to see here move on. The most transparent open Presidency..
#2 | POSTED BY DAVETHEWAVE

Actually, it's completely legal. If you read the article, you'd know that.

The GOP does it all the time.

The reason the DNC couldn't was because the White House said not to...until now apparently.

#10 | Posted by Sycophant at 2013-03-02 06:19 PM | Reply | Flag:

"The loan should be repaid in full by the DNC, but it's chump change to Duke Energy.."

That makes it okay, Rcade? It's sorta like saying the Solyndra scam was 'only' a half-billion. Right?
Prosecute these jerks! The reason our system is so money corrupt is not billionaires. It's this attitude that your side or my side is within accepted bounds when they do this stuff.

#11 | Posted by Diablo at 2013-03-03 03:11 AM | Reply | Flag:

#10 Of course it's legal. Do you even bother to think about what people type? It's called biz as usual in politics.

However coming from the POTUS who promised the most transparent Presidency ever (the DNC LIED) with the least lobbyist influence.....I would say this is just another of the dozens of things promised by bho that he has failed on.

Case in point where are most of his departed staff now working?????

#12 | Posted by DavetheWave at 2013-03-03 08:56 AM | Reply | Flag:

Big surprise here, Dems stiffing someone? When you don't know how to pay bills you don't pay them!

#13 | Posted by fishpaw at 2013-03-03 03:55 PM | Reply | Flag:

why don't thet take some money from Bloomberg/ Soros
or can't they just have the Fed print some money?
or, a paperless wire-transfer

sigh, guess my bank fees will be going up

#14 | Posted by roadrunner22 at 2013-03-03 04:07 PM | Reply | Flag:

"Actually, it's completely legal. If you read the article, you'd know that."

Think of it this way: the Dems are always screaming about corporate campaign contributions. If this company tried to contribute that kind of money directly to a party or candidate, they would be prosecuted.
But to extend that credit, have the party stiff them and just pretend it's a write off is, to my mind, a criminal flaunting of these laws. No minor thing.
And yes, I am sure Pubs do it as well. So what? Prosecute when it is done.

#15 | Posted by Diablo at 2013-03-03 05:18 PM | Reply | Flag:

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