Don't Tell Anyone: Short On Cash, Obama's Dems Cancel Convention Events

(Bloomberg.com) Democrats canceled a political convention kick-off event at the Charlotte Motor Speedway and will move the activities to Charlotte’s main business district, the convention’s host committee announced.

The move comes as party planners are grappling with a fundraising deficit of roughly $27 million, according to two people familiar with the matter who requested anonymity to discuss internal party politics.

With a party ban on direct contributions from corporations, the host committee has raised less than $10 million, well short of its $36.6 million goal, said one of the people. In January, Steve Kerrigan, chief executive officer of the convention committee, said that Democrats were shortening their convention from four days to three “to make room for a day to organize and celebrate the Carolinas, Virginia and the South and kick off the convention at Charlotte Motor Speedway on Labor Day,” Sept. 3. Read The Rest Of The Story