Jim Rogers blows off Commission: Duke Energy will do whatever it wants



WRAL-TV coverage ain't happening because of thunderstorms. Bob Geary has the best Twitter feed on the hearing.

WCNC has it live.

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M&A

After listening to Rogers for a half-hour or so, it's clear that this "merger" is a simple acquisition where the acquiring company (Duke Energy) was willing to promise whatever was necessary to gain approval ... while recognizing that once the deal was done they would do whatever they wanted to clean house and cut costs.

Anyone who thought otherwise is a fool.

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“Don't tell me what you value, show me your budget, and I'll tell you what you value.”
― Joe Biden

As Bob Geary says, the 'clubby' attitude of the Commission...

has to change. I could not believe how obsequious (as in toady) the Chairman of the Commission was towards Jim Rogers.

Martha Brock

When the guy can pass out $40+ million

I'd imagine he gets a lot of sucking up. Looks like the PUC will become a wholly owned subsidiary of Duke Energy ... along with the governor's mansion.

Remarkable that neither McCrory nor Dalton has had a damn thing to say about the Duke Energy coup.

Imagine. A bunch of rich white guys raking in millions of dollars because they happen to have a state-guaranteed monopoly to provide a critical public service. It's not just morally wrong, it's fucking obscene.

____________________________________

“Don't tell me what you value, show me your budget, and I'll tell you what you value.”
― Joe Biden

Coal mines

Rogers is just another canaries in the coal mine, pun intended, of corporate malfeasance. Bloody lies and deceit are fully accepted as legitimate business practices at a growing number of businesses, including, of course, Duke Energy.

____________________________________

“Don't tell me what you value, show me your budget, and I'll tell you what you value.”
― Joe Biden

Rogers gets blame for lack of Convention funds being raised

This just in from the Washington Post:

...with less than two months left before the kickoff and people with knowledge of the operation saying that just over half of the money needed has been collected, some are starting to cast blame. Those fingers are being pointed at the business executive long seen as the convention’s greatest potential rainmaker

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The Post blames Jim Rogers of DukeEnergy for failure of the Democrats to meet fundraising goals, says he has been focused instead on the merger of Duke and Progress.

Martha Brock