Study: Conventions funded by millions from corporations

[AllHereTruth]

Source: CNN

(CNN) – The upcoming Republican and Democratic nominating conventions are being funded by more than $100 million in contributions from corporations who also spend substantial sums lobbying the federal government, according to a new study by the Campaign Finance Institute released Wednesday.

Roughly $55 million in private financing is being provided to support the Democratic convention in Denver, and $57 million for the Republican convention in Minneapolis-St. Paul. The organizational donors behind that convention funding have donated another $100 million to federal candidates and parties since 2005 and spent a total of $721.3 million lobbying the federal government during the same period, according to the institute’s analysis.

The institute’s report comes shortly after presumptive Democratic nominee Barack Obama prohibited the Democratic National Committee from accepting contributions from lobbyists or political action committees, to bring its fund-raising practices in line with those of his presidential campaign. Presumptive Republican nominee John McCain spearheaded legislation which banned unregulated “soft money” from federal campaign donations — but the new regulations did not include a soft money ban on funding for nominating conventions.

The Campaign Finance Institute is affiliated with George Washington University. The analysis released by the institute Tuesday included data provided by the Center for Responsive Politics.


Read more: http://politicalticker.blogs.cnn.com/2008/06/18/study-conventions-funded-by-millions-from-corporations/

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*Too little too late from Obama imo*

[Captain Hilts]

1. It's like the baseball All-Star game. It's a corporate racket for insiders. nt

[Ian David]

2. If only, somehow, the Primary season had ended a few months earlier. n/t

[redqueen]

3. "*Too little too late from Obama imo*"

Oh yes... this is SO TOTALLY about Obama.

Uh huh.

Yeah.

[AllHereTruth]

5. *To little too late from Obama/DNC*

That better?

[redqueen]

6. Considering that the article is about both parties' conventions?

Yeah... still pretty transparent IMO.

[meegbear]

4. Well smack my crack and call me Shirley!

No surprise there.

[LiberalFighter]

7. Then why has Denver been having a difficult time ponying up the cash for the convention?

[HiddenCSLib]

18. Not Denver

Denver does not have to pony up for the convention. They are hosting the convention and it is being paid for by the DNC which has not been able to meet most of the agreed upon time frames for the funding. There have been numerous things cancels due to the lack of funds coming in as was agreed to. I am down in Colo Sprgs and I hope that there is not a push to have Colorado cover the unpaid bills. Obama may have money in the bank but so far th DNC seems to follow Hillary's payment plan (promise to pay and skip).

[MaineDem]

19. Sorry, it's not the DNC lacking the funds

It's is indeed the Denver Host Committee - the coalition put together to lure the DNC to pick Denver. They can't come up with the promised funding. Not the DNC.

[LiberalFighter]

20. I disagree... from the website

Who is organizing the convention?
There are two main organizing groups: The Denver 2008 Convention Host Committee and the Democratic National Convention Committee. Other contractual partners are the City and County of Denver and Kroenke Sports, owner of the Pepsi Center.

What is the role of the Denver 2008 Convention Host Committee?
The Denver 2008 Convention Host Committee is a non-profit organization charged with generating the funding to pay for the 2008 Democratic Convention; organizing a volunteer base; and providing hospitality to delegates and credentialed media. Our mission is to showcase Denver and the Rocky Mountain West, to include all aspects of the community and culture of the entire region, and to emphasize environmentally, economically, and socially sustainable development.


And from CQ Politics

Rocky Fundraising for Denver Democratic Convention
By Marie Horrigan, CQ Staff

The committee responsible for raising much of the money to put on the Democratic National Convention announced Monday it has fallen nearly $12 million short of the $40.6 million it was obligated to raise, just 70 days before the convention is scheduled to begin in Denver.

The Host Committee did not give a reason for the 29 percent shortfall, but Colorado Democrats have attributed the slow fundraising to the protracted primary battle between Barack Obama and Hillary Rodham Clinton for the Democratic nomination and also to a lack of enough major corporations in Denver willing to donate to put on the convention.

The financial disclosure came on the heels of the Democratic National Convention Committee’s (which organizes the convention) announcement it was postponing the media walk-through scheduled to begin on Thursday. A Democrat with knowledge of the process conceded that financial problems were behind the committee’s decision to postpone the media briefing well after most media outlets had scheduled their travel to Denver. The media walk-through is a key planning step for media outlets planning to cover the convention. Some 15,000 members of the media are expected to attend the convention.

Despite raising only $29 million of the $40.6 million due by Monday, a spokesman said the Host Committee “is fully confident about completing its fundraising goals” and would continue raising money over the next two months. But this is the third of four fundraising targets that the committee has failed to meet. It fell more than $1 million short of its first fundraising goal of $7.5 million for June 2007, met its December fundraising deadline of $15 million, but then fell $5 million short of the $28 million due by March 17.

[Winterblues]

8. Didn't Obama just specify that no Corporate funds would be accepted by democrats?

I could have sworn he just said that. Maybe he just meant campaign contributions but this type of funding is not much different and sure calls into question his credibility on this matter.

[redqueen]

9. Do you think perhaps the convention was all set up before last month?

I appreciate your "concern" about his credibility.

Enjoy your stay.

[melody]

10. His credibility versus whose?

McCain's? LMAO!

There are no total saints in politics. We have to back the best candidates and walk toward the future

[AllHereTruth]

11. Ok, The reason i posted this article was not to bash Mr. Obama.

I am not here to smear the candidate i pledged $50 of my hard earned dollars to. Seeing as i am barley getting by in daily life that was alot to me. I believe he is here to change politics.

I just find it funny Obama pledges to not accept lobbyist money after the battle against Hillary, and after $50+ million is contributed to the DNC for the convention.

That was my point.

*

Obama compared to McCain. There is no battle. There is no choice for us here at DU. It has to be Obama. But let us understand that Campaign Finance Reform is still needed. And that corporate influence is currently at its highest.

Thank You.

[melody]

13. Then you should understand that Obama is working to change a corrupt system

It's not going to be healed overnight. He will have to interact with it to make any changes he can make.

Criticizing Obama just plays into the hands of the freepers who lurk here by giving them quotes from "liberals who
hate Obama".

[AllHereTruth]

14. Action in Democracy

"Criticizing Obama just plays into the hands of the freepers who lurk here by giving them quotes from "liberals who hate Obama."

So what your telling me is there is no room for criticism for our Dem Candidate. Isnt that what we are here for? to let our elected officials what we like and don't like? isnt that Democracy in action? or am i wrong...

Just because we are Liberals does not mean we have to accept what our Liberal Politicians choose to do.

We are not sheep.

[melody]

15. There are ways to do it that don't present arguments against Obama

Just mho

[AllHereTruth]

17. Always Questioning

Are you seriously suggesting that i, as a member of DU and a proud Liberal, never present facts/arguments that go against the Dem. Candidate?

That sounds an awful lot like Repub. thinking. Just because Person A is the candidate i choose to rally behind that does mean Person A is flawless. That does not mean Person A should never be questioned...

We currently have someone in office who is NEVER questioned. He is never second guessed. And look what thats gotten us.

MY POINT is we, as American people, have to be always questioning no matter the party affiliation.

[OhioChick]

12. Corporations/State

"Should" be kept separate, as Church and State. Unfortunately, neither are.

[apnu]

16. There lies the problem with our political system and government.

We will never be a governmnet of the people, and by the people if "people" also includes corporations.

America is a sad place.