You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Local politics

  • Muncie plant to lay off half of workforce
    A packaging company in Muncie has informed the state it plans to lay off 261 workers over the next few months. DIY Group President Phil Durham said the company is laying off roughly half its workforce.
  • Stutzman gives up on repealing Obamacare
    It’s too late to repeal the federal health care law, according to a congressman who has voted many times to eliminate some or all of it. Rep.
  • Feds handcuffing growth: Stutzman
    Regulations-happy federal bureaucrats are sabotaging businesses, suppressing the economy and supplanting congressional authority, U.S. Rep. Marlin Stutzman insisted Tuesday.
Advertisement

Corporate money boosts convention

Companies including Bank of America and Wells Fargo have contributed $20 million toward the cost of the Democratic National Convention, helping finance an event that Democrats initially said wouldn’t accept corporate money, according to two people familiar with the matter.

Organizers of this year’s convention in Charlotte, N.C., turned to corporations after the city’s host committee struggled to reach its $36.7 million fundraising goal, according to the people, who requested anonymity.

Last year, the Charlotte host committee set up a separate entity called New American City Inc., to take corporate cash and to which Bank of America and Wells Fargo contributed, according to the people. The two banks were on a list of corporate donors released Sept. 1 by the host committee that also named AT&T, US Airways Group, Duke Energy and the law-and- lobbying firm McGuireWoods.

After saying in February 2011 they wouldn’t take corporate money, Democratic Party leaders and convention organizers have grappled with how to cover the estimated $52 million cost of the event, which will end Thursday in President Obama’s renomination acceptance speech.

Duke Energy Chief Executive Officer Jim Rogers, co-chairman of the host committee, “has said that he secured $10 million to $11 million from local corporations from Charlotte,” said Tom Williams, a spokesman for Duke. “He has been working hard to build on those numbers to bring in money” for the convention, Williams said.

“We hit our fundraising target and have the resources we need to host a successful convention,” said Kristie Greco, a spokeswoman for the Democratic National Convention Committee.

Suzi Emmerling, a host committee spokeswoman, didn’t respond to a request for comment. Larry DiRita, a spokesman for Charlotte-based Bank of America, declined to comment, while a Wells Fargo representative didn’t immediately respond to requests for comment.

Party officials met to discuss the convention’s budget on Sept. 1, three days before official programming began, in an indication of how cash-strapped the three-day event is, according to one of the people, who spoke on condition of anonymity.

One way to cut costs, said the people, would be to switch the final night’s event from Bank of America Stadium to the Time Warner Cable arena, where the first two nights’ events will be held. The arena is an alternate site for the acceptance speech in case of inclement weather. The Obama campaign has insisted that possible severe weather won’t force them to move.

Advertisement