CHARLOTTE, NC (WBTV) - According to this report filed this week with the Federal Election Commission, DNC organizers racked up millions in debt to fund the convention.
The report includes a long list of unpaid obligations, as well as one very big one - a loan of almost $8 million guaranteed by Duke Energy.
Duke Energy CEO Jim Rogers was co-chair of the DNC Host Committee, the group charged with raising money for the convention. Shareholders were really upset with him for putting such a big amount of the company's money on the line. We asked him about that before the convention, at Duke Energy's last shareholder meeting, and Rogers said he felt quite confident that the Host Committee would never actually need to use the line of credit.
"This guarantee on the line of credit," Rogers told us at the time. "We don't pay for the line on the credit, the host committee will. I'm also responsible for helping raise the money for the convention, and so I know based on the work we've done, that in all likelihood, we'll never draw down on that line of credit."
But they did.
And now Rogers and his Host Committee colleagues have to figure out how to pay for a party that's over.