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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: chartseer who wrote (132348)	5/12/2012 9:46:10 AM
From: Hope Praytochange	2 Recommendations Respond to of 224725

Democrats' Fund Taps Corporate Donors for Convention By BRODY MULLINS And PETER NICHOLAS Democrats have trumpeted their ban on corporate donations to their national convention this summer, saying that it shows they are free from the influence of special interests. But through a special fund, convention planners are accepting millions of dollars in corporate contributions to help pay for many of the activities outside the convention hall—as well as some expenses directly related to the event. Donors include Wells Fargo WFC +0.36%& Co., Bank of America Corp. BAC -1.95%and Duke Energy Corp., DUK -0.32%all significant employers in Charlotte, N.C., where the convention will be held in early September. The fund, called New American City Inc., plans to raise more than $10 million to cover convention expenses, including salaries for convention workers, promotional materials and overhead. Costs also include entertainment for delegates and others, such as a welcoming party for the media that will feature celebrity performers and as many as 10,000 guests. Before this year, both political parties accepted corporate funding for their conventions. In 2008, companies contributed about $40 million of the $60 million that Democrats raised for their convention. This year, Democrats say they have a $36.6 million budget without corporate money. The New American City fund could make up some of the difference. One contributor to the New American City fund, Charlotte-based Duke Energy, also has made available a $10 million line of credit for the event. Duke Energy's chairman, president and CEO, James E. Rogers, is co-chairman of the host committee. The Obama campaign declined to comment on the New American City fund. In tapping Charlotte for the convention, Democrats hoped the choice would energize voters and help the president carry North Carolina. That plan is now facing headwinds. North Carolina voters this week passed a constitutional ban on gay marriage, rejecting the position Mr. Obama took the following day with his endorsement of same-sex marriage. And on Tuesday, nearly 200,000 Democrats—or 21% of the total—cast ballots for "no preference'' in the Democratic primary rather than backing Mr. Obama.