Duke Energy - Criticism

Criticism

In 2002, Duke Energy was awarded the Ig Nobel Prize in Economics for "adapting the mathematical concept of imaginary numbers for use in the business world".

In December 2011, the non-partisan organization Public Campaign criticized Duke Energy for spending $17.47 million on lobbying and not paying any taxes during 2008 through 2010 and receiving $216 million in tax rebates, despite making a profit of $5.4 billion and increasing executive pay by 145% to $17.2 million in 2010 for its top 5 executives. The company has recently become the object of protest for its close relationship to the Democratic Party and its funding for the 2012 Democratic National Convention.

In July 2012, Duke Energy was criticized for paying former Progress Energy CEO Bill Johnson $44 million in compensation, including $10 million severance, for essentially 20 minutes on the job as Duke CEO. On July 10, new CEO Jim Rogers spoke before the N.C. Utilities Commission, explaining the reason for Johnson's dismissal as "loss of confidence". He also mentioned an "autocratic style", though some former Progress directors disagreed.

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Famous quotes containing the word criticism:

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    —Herbert Hoover (1874–1964)

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