Duke Energy Guarantees $10 Million Loan for Democratic Convention

Duke Energy has agreed to underwrite the 2012 Democratic Convention in Charlotte, North Carolina. The line of credit is worth $10 million dollars:


CHARLOTTE, N.C. — Duke Energy Corp., one of Charlotte's biggest companies, is guaranteeing a $10 million line of credit for the 2012 Democratic National Convention, The Charlotte Observer reported Saturday.


The guarantee would put Duke Energy's stockholders — not Duke's electric customers — at risk if the Democratic National Committee defaults on the loan, said company spokesman Tom Williams.

It’s the least they could do for the company’s biggest benefactor. Duke received $204 million in Stimulus Money from the Democratic Party and Obama regime:

The Associated Press

CHARLOTTE, N.C. —


Duke Energy has signed the agreement to formalize the $204 million in economic stimulus funds it will receive from the federal government, the power provider said Thursday.

Duke said it will use the funds from the Department of Energy to modernize its power distribution system and install digital equipment on the transmission system in the Carolinas. It said the funding will save or create about 1,000 jobs in Ohio, Indiana, Kentucky, and the Carolinas.


The grant is part of $3.4 billion in government support for 100 projects announced in October.


Duke Energy Corp. is one of the nation's largest power generators with 4 million customers in the Carolinas and the Midwest.

What’s $10 million amongst friends? Or should I say the taxpayers?

Source: http://seattletimes.nwsource.com/html/businesstechnology/2011859218_apapfnusdukeenergystimulusfunds.html?syndication=rss

http://www.wral.com/news/state/story/9261485/