Energy Company That Got $700 Mil From Obama, Gives Dem Party $10 Mil

Daniel Greenfield, a Shillman Journalism Fellow at the Freedom Center, is a New York writer focusing on radical Islam. He is completing a book on the international challenges America faces in the 21st century.


Big government is an investment. Or as Elizabeth Warren would say, “You didn’t build that, we gave you the money to build it and now you give us the money so we can buy a posh condo in D.C.”

Duke Energy’s motto under CEO Jim Rogers is, “Steal $700 million in taxpayer money on our behalf and we’ll give you a $10 million loan that will turn into a gift.”

Today is a good day for the Democratic National Committee. Duke Energy, which helped bankroll the Democratic convention in Charlotte last year with a $10 million loan, announced it would forgive the Democratic party of its massive debt.

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.

And that $10 million wasn’t all the loot that Jim Rogers passed back to the Democratic Party.

The company donated $1.5 million in in-kind contributions to the host committee for office space, furniture and other expenses. Rogers personally gave $339,000 in cash and in-kind services, including the hiring of a fundraising assistant.

Duke also gave $4.1 million to a separate fund that could accept corporate money to put on parties boosting the city.

So we’re now in the 15 million dollar range. But don’t worry, Duke’s shareholders did all right, even if the taxpayers got screwed.

Nor was it just 200 million that Duke stole from American taxpayers.

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.

So that brings us to 785 million dollars. Some of that money came locally, but we’re still looking at a huge sum.

Duke’s financial support of Charlotte’s biggest event became a political football soon after the credit guarantee was announced in early 2011. Sidewalk protesters from FreedomWorks, a conservative group, waved “Fire Jim Rogers” signs as Duke’s CEO presided over the company’s annual meeting that spring.

Firing Jim Rogers is tricky, because Jim Rogers is tricky.  You can fire him, but he doesn’t stay fired, even when he’s supposed to be fired, as the Progress merger/takeover revealed.

On July 2, at 4:02 p.m., just after the market closed, Duke Energy’s (DUK) board of directors gave final approval for the acquisition of Progress Energy, its cross-state rival. Progress’s CEO, the 6-foot-5 William Johnson, a defensive lineman in his Penn State days, was supposed to become chief executive of the combined company. Under the merger terms, Rogers was scheduled to assume the role of executive chairman, a step toward retirement.

At 4:30 p.m. the Duke board elected Johnson CEO. Then, after Johnson left to celebrate, the board took another vote and ousted him. He served as chief executive for two hours, give or take a few minutes. The Duke board awarded him an exit package of $45 million in deferred compensation, severance, and other benefits. To finish an eventful afternoon, the Duke board reinstalled Rogers in the top job.

Those caught unaware by Johnson’s stealth firing included investors, utility regulators, and some 29,000 employees of the combined company. That was unfortunate, Rogers concedes. Still, “when the day came to get married, our board reached a decision that he was not the right person to lead the company. I think it was that simple.”

This is the kind of slime you’re dealing with and it’s why Rogers is a perfect match for Obama. There has even been talk of finding Rogers a place in Obama Inc.

Duke Energy got the maximum allowable amount in taxpayer money under the stimulus program.

The DOE funds will support two projects: $200  million — the maximum allowed per project under the DOE Smart Grid Investment Grant Program — will assist in modernizing Duke Energy’s power distribution system; $4 million will support the installation of digital equipment on the transmission system in the Carolinas.

And they give the maximum allowable amount to the Democratic Party of Thieves and Criminals.

  • JacksonPearson

    "Big government is an investment. Or as Elizabeth Warren would say, “You didn’t build that, we gave you the money to build it and now you give us the money so we can buy a posh condo in D.C.”

    Duke Energy’s motto under CEO Jim Rogers is, “Steal $700 million in taxpayer money on our behalf and we’ll give you a $10 million loan that will turn into a gift.”"

    In a few simple words, It's called: THE DEMOCRATS ARE A CRIMINAL ENTERPRISE

  • Ar'nun

    Something tells me Obama is going to try and find a way to use Roger's Fired re-hired trick in 2016.

    • Spikey1

      Barack Obama is the current president
      Hussein Obama will be next candidate – No relation to the prior Obama.

  • Feisty Hayseed

    I live in North Carolina and I was appalled when I heard this news on the radio today. I am a forced to buy my electricity from the government mandated monopoly, Progress Energy, recently assimilated into the Duke Power collective. I am outraged that some of the money that I pay for my electricity every month is going to fund the Democratic Party. Know I know how compulsory Union members must feel when their Union dues are given to the Democratic Party! The incestuous relationship between Duke Power, the Federal Government and the Democratic Party is criminal – easily as corrupt as the old La Cosa Nostra Crime Families.

  • DVult

    The old twin brother trick.

  • Feisty Hayseed

    The Federal Government -> Duke Power -> Democratic Party money flow is simply a money laundering scheme, just like Public Sector Unions and the Democratic Party. My issue with it is that as a resident of North Carolina I am forced to purchase my electricity from the government created monopoly, Progress Energy (recently assimilated into the Duke Power collective), so my money is being taken from me to give to the Democratic Party in two ways: 1) my monthly electric bills, and 2) the taxes that I pay to the Federal Government. I wonder how much, without my knowledge or approval, I am contributing to the Democratic Party?

  • joshdelaughder

    Is there a journalistic site I can get this info from?

  • Tony Christopher

    So sad. To work so hard, get taxed up the ass and then to read this…

  • http://greencorruption.blogspot.com/ Christine

    Hmm, I guess I missed some like this one… “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.”

    Because in my Big Wind Story in January, I wrote this….[http://greencorruption.blogspot.com/2013/01/big-wind-energy-subsidies-hurricane-of.html#.UTFlz45dXFI]

    Last September [http://greencorruption.blogspot.com/2012/09/obamas-green-cronies-made-dnc-cameo.html#.UTFoTI5dXFJ I highlighted four Obama cronies that made a special DNC Cameo, which included Jim Rogers, Chairman of Duke Energy, the 2012 DNC host as well as an Obama donor. Duke was the recipient of a $22 million DOE grant from the 2009-Recovery Act “to design, build and install large-scale batteries to store wind energy at one of its wind farms in Texas.” Then June 8, 2010, Notrees Windpower LP received a 1603 grant worth over $90 million for “wind in Texas” [docket #7812 –– $90,354,625]. And after a quick glance, we find more 1603 grants for Duke Energy Carolinas, LLC, totaling over $60 million for “hydropower” and “solar electricity.” Duke was also privy to the “smart” money as well –– in 2009, the DOE awarded Duke Energy a $200 million stimulus smart-grid grant to support projects in the Midwest.