In response to:

Crony Capitalism Gone Wild: Duke Energy CEO Backs President Obama

Matt in N.C. Wrote: Oct 02, 2012 7:22 PM
I hope you're right. A Republican governor and General Assembly -- the first such combination in 114 years -- may be able to do some housecleaning if they have the courage. They'll need it. The last time, Democrats staged an armed insurrection. An insurrection of sorts is what Rogers engineered against former CEO Bill Johnson. I have to wonder what role Rogers' politics played in that sorry episode. While all that settles out, I'm going to join an unknown number of other investors in Progress Energy, which Duke just absorbed, in selling my new shares of Duke. I wouldn't give you two cents for the company's future under a leftist ideologue.

Duke Energy CEO Jim Rogers sets a new standard for crony capitalism. While the vast majority of crony capitalists are pragmatic businessmen who pursue a partnership with President Obama for purely financial reasons, Rogers is a different breed.

Most CEOs are political agnostics and see cronyism as a shortcut to bypass the competitive free enterprise system to a pot of gold. These business executives walk a political tight rope, trying to balance the benefits of political favors against the risk of drawing media scrutiny and controversy of looting the public treasury.

For Jim Rogers, passion for progressive politics appears as...