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DNC won't repay Duke Energy for convention costs
Posted By -NO AUTHOR- On 03/01/2013 @ 10:23 pm In Politics | No Comments
(Washington Times) 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.
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