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Subscribe to RSSThe Democratic Party's decision to move President Obama's acceptance speech to the Bank of America Stadium in Charlotte has surprised some party activists -- and stirred criticism -- over the use of a venue named for a company that has been at the center of the financial crisis.
"God almighty, I can't believe it." said one top Democratic fundraiser when he learned of the decision to move the speech to Bank of America stadium, where the NFL Carolina Panthers play their football games. "This is an amateur’s mistake."
Convention officials vigorously defended the decision today, saying the use of the open-air 74,000 seat stadium would help excite supporters and enable far more people to see the speech, "That allows for greater participation by Americans from all walks of life," White House Press Secretary Jay Carney said.
But party officials privately confirmed that the move can help with fundraising despite what one called "an obvious optics" problem. And the use of a stadium -- whose naming rights belong to a bank that has been engulfed in controversies over foreclosures, bank fees and bailouts -- was denounced by some watchdog groups.
"It's a surprising and disappointing choice," said Mary Boyle, vice president of Common Cause. "Bank of America is the poster child for corporate greed and corporations out-of-control. The president would be better served by choosing a large public space with no corporate logo attached to it."
Robert Weissman, president of Public Citizen, a group that lobbies against corporate influence, added: "Speaking at a stadium named for one of the financial firms that plunged our country into deep recession, we can only hope that Barack Obama will counter the optics by laying out a meaningful plan to control the Wall Street giants." .
"The president turned the economy around making sure that everyone, from Wall Street to Main Street, plays by the same rules," Kristie Greco, spokeswoman for the Democratic convention, emailed in response. "His record and his policies are not impacted by the name on the stadium."
Greco pointed out that the Democrats' licensing agreement that will allow use of the stadium is with the Carolina Panthers, which actually owns the stadium, not Bank of America itself. In an arrangement similar to those with many other professional sports teams, Bank of America acquired naming rights to the Panthers stadium in 2004 as part of a reported $140 million agreement over 20 years. (A Bank of America spokeswoman did not respond to a request for comment.)
But the choice will enable the Charlotte Host Committee -- which is charged with raising the $36 million needed to pay for the convention -- to offer access to the stadium's plush skyboxes as part of a package deal of perks it has put together to entice wealthy donors and fundraisers.
Suzi Emmerling, a spokeswoman for the host committee, confirmed a Bloomberg report that those deals -- presented to Washington lobbyists last month -- include an escalating menu of packages starting with the $1 million "presidential" level. Those who buy in will receive a "premier uptown hotel room," a "platinum events package and "concierge services." Another $500,000 "Gold Rush" level includes hotel room, credentials and a "premiere events package."
Democratic officials have emphasized for months that this year's convention won’t accept money from lobbyists and corporations. "This year, we are setting a new standard for how conventions are funded. No longer will it be sponsored with money from corporations, special interests, lobbyists and political action committees," the host committee states on its website.
But those seemingly strict rules appear to have some loopholes. While the convention committee itself won't accept cash donations from corporations, it is taking "in kind" contributions from corporations, such as food, beverages, and equipment -- costs that can often add up into the millions.
A separate convention "Hospitality" committee -- operating under the name New American City Foundation -- is also directly accepting corporate and lobbyists' money to pay for the parties and other events that are often attended en masse by delegates, members of Congress and reporters.
In addition, the host committee itself is still accepting big donations of up to $100,000 a piece. "Nobody gets to rent a skybox for a million dollars," said Emmerling.
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You know what they say in politics how one hand washes the other. Well, we know what BOA got for its involvement in politics, but we will never know what Obama got...LOL.
First off I'm glad that someone on here pointed out the obvious in an earlier post about the fact that practically all of the sports arenas in the US are named with the help of large businesses and large banks. Second, what is saddening is all that money will be spent for one event while people (including children) continue to starve and/or find shelter.
Here's a major fact that everyone needs to open their eyes to: ALL politicians are corrupted and don't give a damn about you so stop believing the lies for once.
I'll never vote for a democrat but being impartial here, they should have had the convention in Cleveland. The city has been on the decline for decades and is in a swing state.
God loves the rich and the poor. It is fair to say attitudes towards the middle class and poor is sad among the Republican party. I have no problems when people getting rich, only how they get rich. I am talking about banks with big bonuses and CEO's big bonuses, stealing pensions and sending jobs over seas. Now they want our benefits to help pay our national debt, only to give more tax breaks to the rich. They want health insurance, Medicare, and Social Security to go away. Do they know that people in their 40's, 50's, and 60's rely on these programs just to survive and eat? No one talks about the disabled who can't go to work if they lose these benefits. I don't know about all the disabled, but I worked 40years, mostly 60 to 70 hours a week. At age 57, I lost my job, retired, and had savings of 6 figures. 4 years later and 2 cancer operations, my savings is now at a low 5 figures. If I lose my benefits, I would have nothing. The CEO's stole my pension and lowered my insurance so that I pay more money than the insurance company pays. I have listened to the republicans every night, and I can see that no republican should be elected for the House, the Senate or the President's office. From what I can see the government has been stealing from the middle class for the past 30 years. President Obama has done more for the middle class in this country during these bad times. I will vote President Obama and I as many of million of middle class who have worked over 40 years, to be disgraced by the Republican Party to want to cut our benefits. I see no reason to cut benefits as long as the rich pay only 15% or less in taxes.
Jesus really? Way to hype up a serious non-issue. Clearly you don't expect our President to own his own venue that is large enough to accommodate his needs do you? Has anyone forgotten that most large banks or companies own the naming right to almost every stadium? Does that keep you from watching football in that stadium? Lol.
Seriously. This article sounds a little like negative hype over a non-issue. I'm disappointed this article was even considered news worthy. Its more like something you would find in a National Enquirer magazine.
OBAMA 2012
God loves the rich and the poor. It is fair to say attitudes towards the middle class and poor is sad among the Republican party. I have no problems when people getting rich, only how they get rich. I am talking about banks with big bonuses and CEO's big bonuses, stealing pensions and sending jobs over seas. Now they want our benefits to help pay our national debt, only to give more tax breaks to the rich. They want health insurance, Medicare, and Social Security to go away. Do they know that people in their 40's, 50's, and 60's rely on these programs just to survive and eat? No one talks about the disabled who can't go to work if they lose these benefits. I don't know about all the disabled, but I worked 40years, mostly 60 to 70 hours a week. At age 57, I lost my job, retired, and had savings of 6 figures. 4 years later and 2 cancer operations, my savings is now at a low 5 figures. If I lose my benefits, I would have nothing. The CEO's stole my pension and lowered my insurance so that I pay more money than the insurance company pays. I have listened to the republicans every night, and I can see that no republican should be elected for the House, the Senate or the President's office. From what I can see the government has been stealing from the middle class for the past 30 years. President Obama has done more for the middle class in this country during these bad times. I will vote President Obama and I as many of million of middle class who have worked over 40 years, to be disgraced by the Republican Party to want to cut our benefits. I see no reason to cut benefits as long as the rich pay only 15% or less in taxes.
Is there an echo in here?
THIS IS THE YEAR all white AMERICAN people most open their eyes & mind even same people live in AMERICA? OBAMA is the only president in AMERICA who created a lot of MIRACLE in the world , what are this FLOODS all over the world, FIRES any where in state of AMERICA & other country, EARTHQUAKE any where in the world, ECONOMIC CRISIS all over the world, BANK CORRUPT SI rather bankrupt in AMERICA, to much money loan to other country, protecting all "THEIVES" in AMERICA which "FRAUD DISABLE" , ETC. This is not a CRITICISM to OBAMA but his is moment of "TRUTH" since hi become President of AMERICA ? what happen to all WHITE AMERICAN PEOPLE are you all scare to fight your right at this time , this is your country remember that don't wait one day all of you WHITE AMERICAN PEOPLE are the SQUATER in their country " AMERICA". All of you need to jiont together with one "GOAL" AMERICAN COUNTRY most run by the "WHITE PEOPLE" not the one who only born in AMERICA my be ? a lot of MALE WHITE AMERICAN PEOPLE are TALK TO MUCH , more than to female white American people that what i sow , for all WHITE AMERICAN PEOPLE SPECIALLY & other people live in AMERICA understand the world OBAMA means "OUT BUDGET AMERICA MANIPULATED AFRICA" if any one WHITE AMERICAN PEOPLE understand this meaning , you are not a "BLIND TO THE TRUTH" but those never see to the rest of your life with your all family you will be "SLAVE" one day by the "RACIAL PEOPLE" therefore all WHITE AMERICAN PEOPLE need to jiont together in one "GOAL" the President of UNITED STATE of AMERICA most be "WHITE PEOPLE" or else no more AMERICA , this will be call UNITED STATE OF AFRICA. that time OBAMA can declared the "MARTIAL LAW" poor WHITE AMERICAN PEOPLE the "GOAL" of BLACK PEOPLE will be happen to "SLAVE" all WHITE AMERICAN PEOPLE which is retalliation or revence against to all WHITE AMERICAN PEOPLE . Be hold this will be happen when the time is come . good luck to all WHITE AMERICAN PEOPLE when this time is come.
To anyone with some figment of gray matter, this is one colossal symbolic screw up
I didn't understand your post/ Are you a white supremecist or what? Maybe I am missing the point of your comment.
The Mao Tse Tung Amphitheater wasn't available that weekend? Really who cares what the name of the Stadium is? This is the lamest argument put forth by anybody in a long time.
As best as I can determine, the thinking by the Democrat convention planners was that since there was no Cracker Barrel® stadium, why not select the Bank of America® stadium, because although it is not quite so sardonic, it nevertheless makes the desired "I am owned" statement in a truly special way, which fits nicely with the new campaign slogan, "Stick with me, and the only change you can believe will be the handful of pennies remaining in your Bank of America account after all the fees and penalties are applied", really . . .
Really! :-o
Image that! The (behind the scenes) leader of the Wall Street Mobs, and largest campaign recipient of money from Wall street, having Obama's acceptance speech at a bank. Obama has no shame-when it comes to getting re-elected.
Obama is nothing more than an ambulance chasing lawyer! Get rid of him quick!!! He has already overspent our tax money on himself and his family trips and whatever else he may have purchased behind our backs.
Obama was never a personal injury attorney.
Yup. All the Political Correctness police are out in full gear. Anything with the name of a bank on it is definitely not PC.
I am sure the owners of the stadium will be thanking Obama. Hypocrite is an understatement.
This could really backfire on Obama and company! 74,000 seats and half empty? Just think of how the Republicans will react to that! Dumb, really Dumb!
This is an open stadium, what if the weather is bad? Hate to say it but Mitt is looking better and better.
I think Ms. Grieco, of the Covention committee, really believes that Obama has turned anything around. It will be more like Nuremberg in the 1930's. The union's will be in their normal Brown Shirts. The Occupy drones will be hold the torches. The problem with B of A and others comes directly from the Democrats and Mr. Franks who forced Red Lining down the throats of every lending institution in America including Fannie and Freddie. Don't know what Red Lining is? Then you should not be voting.
Everything this Putz Hussein does draws criticism. Only way to remedy that, is to get RID of Pathetic Hussein.
Let the rock star party begin... o/' Woo Hoo o/'
Some people will vote the same, it's such a shame.
Hmmm, an "amateur mistake" by an amateur....no surprise there.
More Media Manufactured Outrage. Apparently, Obama is both an evil socialist and an evil corporatist all at the same time. Just another manufactured controversy.
Who cares! Obama is getting evicted from the White House in 2012
Mr. Tommy Gun Obama, remember to invite your cohorts in crime including
1) Mike Easley (convicted felon & former governor of NC)
2) Roy Cooper (Easley cohort and current unethical NC State Attorney General)
3) Joe Cheshire (criminal attorney for Mike Easley)
4) Dean Poirier (judge, NC)
5) John Leydon
6) Dick Jenrette
You should have all the funding you require right there within this list.
(I hope you all go to Guantanamo Bay prison for the rest of your lives. Could be why it's still open)
Is the venue big enough for his ego? I just don't see it fitting.
Is North Carolina a "right to work" state? There be some union thugs gonna be upset...
Exactly what venue do you find to handle that amount of people which isn't owned by a billionaire or a corporation? Besides that, public funds helped build that stadium well before BoA put their name on it.
We always pay for the expense of the corporations, but they benefit with their name on these venues, which to me is bullsh!t!!! Why should we pay and their names are on these places as if they paid for them? It's another rip off!!!! Plenty of poor people work and pay taxes, but can't afford to spend their hard earned money going to these games, they should say, "if I can't afford to go, why should my tax dollars pay for it to be built"??? It's a damn rip off that's what it is!!!!!
why does it need to be a 74k seated stadium? Appearance.....that's the only reason. That's the only reason they are doing this....appearance.
What the bone heads didnt consider though is the APPEARANCE this will give if the president gives his acceptance speech at a stadium carrying BoA name.
horrific decision. Turns my stomach. They have been at war with the american middle class trying to bleed us dry and at the same time taking our tax dollars to save their asses from their greedy horrible decisions.
I support the president (mostly). But, this one will not pass.
They could move it out to the race track at Charlotte Motor Speedway, it hold far more people has plenty of parking, onsite landing pads for helicopters and is not that far from downtown, but not a walk either.
Get real. Who in the hell has a convention at a motor speedway?
Chris
it's not for the convention. it's where the acceptance speech will be. dont mean to get snarky, but you had no problem, so, I think you need to get real.
This just goes to show how out of touch all politicians really are. Once these banks took bailout money, any and all naming rights money paid should have been cancelled and that money given back to the taxpayers.
Holding a rally in a stadium with that name is just stupid. But its ok, the corporate donators(the real politicians of this country) will make sure his super PAC gets a crapload of money though
To me, this shows just how much this president DOESN'T CARE abt the plight of the middle class and poor. He WILL NOT get my vote in 2012!!!! He expanded TARP, Bush created it. He's in bed with big business, so there's a conflict of interest.....you cannot serve two masters!!!! He's made his choice, and I've made mine.....he WILL NOT get my vote in 2012, neither will any of the others. We're dealing with a choice of the lessor of two evils, and I refuse to choose between the two!!!!
In what way does the choice of venue show the President doesn't care about the poor and middle class? I just don't see the connection or relevence. Seems like a non-story, honestly.
You weren't going to vote for him anyway so stop with the drama. Who decides on which candidate to vote for by looking at the convention venue? Maybe you should stay in the bagger party since that's where mental giants like yourself seem to reside.
Agreed...blah. Who cares? This is such a stupid story.
To me, it's really a weak attempt for First Read to act as if they're being critical of Obama.
Good Renee...he doesn't need your vote.