“Some have cynically suggested that certain charitable organizations to which we have contributed are motivated not by the civic good but instead by political considerations. We do not agree with those suggestions or that our charitable giving practices are anything other than well-intentioned,” said Paul D. Koonce, Dominion vice president, in filed testimony, reports the AP in an update.
The State Corporation Commission had declared in 2011 that it was legal to seek recompense for the contributions, but SCC staff had raised the issue anew in filed testimony. The AP story specifically mentioned $40,000 donated to a tort reform group and a $10,000 gift to a college solicited by a lawmaker who is the school’s paid fundraiser.
Bacon’s bottom line: The amount of money was miniscule — less than a penny per month per customer — but the optics were terrible. Dominion is arguably the most politically powerful corporation in Virginia, fielding a small army of lobbyists, communicators and community relations professionals while also donating major sums to political candidates. Fairly or unfairly, the company is widely said to “own” the SCC and/or legislators. For a minimal impact to shareholders, Dominion has eliminated a practice that feeds negative perceptions about the company.
— JAB