Posted on 03/01/2013 4:40:53 AM PST by Free America52
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.
Read more here: http://www.charlotteobserver.com/2013/03/01/3885178/duke-energy-wont-be-repaid-from.html#storylink=cpy
(Excerpt) Read more at charlotteobserver.com ...
Don’t come to the rate payers of NC to get it either...
Should now be considered a political donation...just like forgiven debt is income..
>>“At the end of the day we’ll do our best to get our money back,” he said in a January interview. “But if we don’t, it’s just a contribution we’re making I think for the greater good of our community.”
$10 million in raises for their employees would be out of the question, but donating $10M to the most anti-energy administration in history is a greater good. I guess they’ve been assured of a postion at the table when Obama’s fascism is finally realized.
$10 million out of the shareholders pockets, no big deal, not like it’s coming out of Jimmy Rogers wallet....
>>“At the end of the day we’ll do our best to get our money back,” he said in a January interview. “But if we don’t, it’s just a contribution we’re making I think for the greater good of our community.”
Good. I wish the price of enabling these socialist scumbags would have been higher!
In a just world, whomever authorized that line of credit, right up to the CEO would be ousted from the company sans any depart payments due to malfeasance. Someone has to pay so in this case it will be the stock holders or the rate payers or both, money does not reproduce itself except at the Treasury.
Well, I’ll be looking for my electric bill to inch up shortly to absorb this loss. Yet another way Obama’s put the screws to us.
}:-)4
>>“At the end of the day we’ll do our best to get our money back,” he said in a January interview. “But if we don’t, it’s just a contribution we’re making I think for the greater good of our community.”
Disconnect power from every Democratic office in Duke’s service area.
They already have:
NC panel hears views on Duke Energy rate increase
http://www.salisburypost.com/article/20130219/SP01/130219566/0/SEARCH&slId=9
I can imagine the backroom negotiations on this.
Duke: “Please pay us the $10M you owe us”
DNC: “No. Say, don’t you run some coal plants? I think the EPA is interested in those plants.”
Duke: “Debt? What debt? I don’t recall any debt.”
Then brandy and cognac were passed all around.
They got the money upfront from Obozo’s stimulus package.
This is money laundering 101, give them the money in the form of a grant, they give it back in the form of a donation to his campaign, or his convention.
Capitol One gets big TARP money, hires Alec Dickhead to be their spokesman, AD gives huge donation to Zero’s campaign.
Follow the money.
That comes to $985 million in either tax credits or other people's tax dollars.
The $10 million took 1 cent off Duke’s 2012 earnings, when the nation’s biggest utility earned $1.7 billion“.
So since 2009 the government gave or credited them taxes equivalent to 57% of their last year's earnings.
Pretty good return on a $6 million dollar investment.
By virtue of an anticipated dividend decline (albeit very small on my part), it angers me that I have supported the opposition without choice. I sure hope someone brings this up in the annual shareholders meeting.
They'll just raise their rates to their customers...
DNC -- Chicago THUGS!!
Angry (fellow) shareholder ping.
A Duke company official said the company was claiming the money as a business expense for tax purposes
So the Democrats came up with a way for Duke Energy to get a tax deduction for a non-deductible political contribution to the DNC. This group of Democrats is taking corruption to a brand new level.
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