Speaking at a breakfast gathering Wednesday morning at the Levine Museum of the New South, Mayor Anthony Foxx and Duke Energy CEO Jim Rogers, who is spearheading the fund-raising efforts for the convention, traded a few memories of the long, nail-biting journey traveled to bring the convention to Charlotte - and civic and economic boost we'll get from it.
When it's all over, Foxx said, "it will be a transformational event", "...the world will know this is not just Anywhere, U.S.A." Chimed Rogers: "It will elevate us on a national and international stage. People will be saying, `We want to move to Charlotte.'"
Meanwhile, though, Foxx and Rogers also conceded that hitting the DNC's $36 million target will be quite a challenge. The reason: new rules that prohibit corporate cash and individual contributions over $100,000.
"It's not going to be easy," Rogers said. "There was a time when I could have just called 50 CEOs."
The $36.6 million to be raised by DNC host committee would, among other things, cover the millions in expenses for upfitting Time Warner Cable Arena, as well as other production costs and transportation for an expected 30,000 delegates and media members.
While Democratic leaders have said the measures put in place to ensure "a people's convention," the changes (a model that was, Foxx said, successfully deployed during President Obama's inauguration) represent a dramatic departure from the way other party conventions have been financed.
In 2008, for example, some companies gave $1 million or more to help Democrats and Republicans stage conventions in Denver and St. Paul.
"That was wholesale," Rogers quipped, "and now it's retail." He added: "Imagine trying to get 360 people to write a check for a $100,000."
To cushion against slower-than-normal fund-raising and potential cash flow problems, Fifth Third Bank has extended the host committee a $10 million line of credit.
Rogers said he expects many contributions will come from individual and organizations outside of Charlotte, and has begun meeting with wealthy party donors.
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1 comment:
People will not say " I am moving to Charlotte " when they see that the Head of schools , Dr Gorman was virtually forced out by the ugly forces of jealousy and hatred. They will not want to move here when they see incidents like we did at the bus station at Speed Week ..The only people that will want to move here are the ones who can further help desroy it .Maybe people from Detroit will move here.
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