A scandal that won’t go away for Duke Energy CEO James Rogers revealed over the weekend, once again, that he will turn over every government rock he can to try to find money to pay for his irrational Green agenda, with reckless disregard for taxpayers and his customers.
In March NLPC reported that Duke Energy guaranteed a $10 million loan to the Democratic National Committee to host its 2012 convention in Charlotte, NC – the utility’s hometown. Now Duke CEO James Rogers – who heads the fundraising effort as co-chair of the DNC host committee for the convention – is silent about how much money has been brought in so far.
The Indianapolis Colts’ loss of future Hall-of-Fame quarterback Peyton Manning (neck surgeries) has led to a winless (0-7) season so far, which places the team in the lead for the No. 1 overall pick in next year’s NFL draft. By unanimity football experts project Stanford University quarterback Andrew Luck – considered by many the best to emerge from the draft in many years – to be the top prize, so the “competition” to fail in order to attain the top choice has been deemed the “Suck for Luck” sweepstakes.
With all the forest clear-cutting, particulate emissions, and wildlife displacement with the widespread burning that is associated with Apple’s massive new energy-sucking data center in Maiden, NC, you’d think the folks at Greenpeace’s new Charlotte office and/or dozens of other environmentalist groups would be protesting non-stop over the damage inflicted on Mother Earth.
While sales of the Chevy Volt languish, the maker of the all-electric and better-selling (but not great-selling) Nissan Leaf maintains that his company’s fortunes and that of his alternative vehicle have a promising future – with two big “ifs.”
Say what you want about Duke Energy and the often-injudicious CEO James Rogers, but at least he is focused on his company’s profitability and the interests of shareholders.
Last week he composed an op-ed for The News & Observer of Raleigh in which he praised Democrat Sen. Kay Hagan and Republican Sen. John McCain for their introduction of the Foreign Earnings Reinvestment Act. The bill would give American companies a “holiday” from the 35 percent U.S. corporate income tax, enabling businesses to – as James Valvo of Americans for Prosperity explained – invest in capital and R&D, hire and train employees, and pay dividends to shareholders.
The merger hearings for Duke Energy and Progress Energy before the North Carolina Utilities Commission were supposed to be the last major hurdle for the deal to be approved, but now the concerns of a small coastal city and a federal government regulatory agency have cast last-minute doubts. It turns out the demands by environmental groups for Duke to pay more money into weatherization boondoggles were minor irritants compared to the threat posed by the Federal Energy Regulatory Commission.
If it wasn’t already obvious, then a report in Friday’s Raleigh News & Observer about the merger hearings between Duke Energy and Progress Energy into the nation’s largest utility makes it clear: That Duke’s strategy is continued growth into “a political juggernaut.”
That’s what came out of the final day of testimony about the deal before the North Carolina Utilities Commission, which appears to be the final major hurdle for the merger’s approval. The N&O cited “hints” by company executives about “further acquisitions down the road,” in which Duke would wield even more power than they do now.
It seemed the merger of Duke Energy and Progress Energy into the nation’s largest (by several measures) utility would sail through by the end of this year, but several activists in North Carolina have intervened at the last minute. The moves by environmental groups to extract funds for their pet projects out of the deal would make shakedown artists proud. Among the organizations – who have myriad methods of wringing dollars from taxpayers through lawsuits and corporate campaign-type pressure tactics – are Sierra Club, Environmental Defense Fund, and Southern Environmental Law Center.