Democrats Said to End Convention $15 Million Short

[RightNow]

 
What idiots!!!  Just more and more evidence these bozos can't be trusted to handle our money!!!

Democrats ended their convention in Charlotte $5 million short of their budget even after being forced to draw down a $10 million line of credit from Duke Energy Corp. (DUK), according to a Democratic Party fundraiser.

That will leave a $15 million bill that eventually will have to be paid by President Barack Obama’s campaign or the Democratic National Committee, according to the fundraiser, who spoke on condition of anonymity to discuss internal deliberations.

The Charlotte Host Committee ended the convention with more than $5 million in immediate obligations and may require a direct cash infusion from the Obama campaign to pay vendors, said the fundraiser.

The $10 million line of credit to Duke Energy will need to be repaid next year, said a second person familiar with the matter, who also spoke on condition of anonymity. Duke Energy Chairman and Chief Executive Officer Jim Rogers is co-chairman of the host committee.

lBloomberg

[Mr Mannn]

I'm dying of NOT surprise.

[docstew]

Hmmm... Duke Energy just completed a merger with Progress Energy to become the largest utility company in the country. This merger required federal approval (link). Maybe a shakedown to get $10M for the DNC? IJS...