Thursday, April 3 2014
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Streetcar’s Delay Costs Nearly $1 Million
For all the hoopla that Mayor John Cranley generated while trying to kill the streetcar in the name of saving the city money, all he did was end up making the project more expensive. The three-week pause in construction cost the city almost $1 million, which includes more than $637,000 in downtime for contractors. The December delay will add approximately 20 days to the project completion date of April 4, 2016. Passengers are still expected to be able to ride the streetcar in September 2016.
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Cincinnati Makes the First Cut for 2016 GOP Convention
Cincinnati is on the short-list to host the 2016 GOP Convention after making the first round of cuts. Cincinnati will have to compete against Cleveland, Las Vegas, Dallas, Denver and Kansas City for the honors of welcoming thousands of old white males to celebrate other old white males. If Cincinnati were chosen to host the convention, festivities would most likely take place at U.S. Bank Arena. The final decision should be made by the end of the summer.
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GOP Senators Seek to Freeze Ohio’s Energy Standards
In 2008 Ohio established clean energy standards that required utilities to receive a certain amount of their electricity from renewable sources. The amount of energy from renewable sources was to increase year after year. Republicans didn’t think this was a good idea and a bill sponsored by Green Township Sen. Bill Seitz is on its way to freeze the standards at current levels, which would cancel any further increases in renewable power usage.
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Smale Park Receives $12.5 Million for Upgrades and Enhancements
Smale Riverfront Park continues to rake in the cash. The park just secured a combined total of $12.5 million from the U.S. Army Corps of Engineers and the City of Cincinnati for improvements and upgrades to the park. The Engineers gave the money to the park to pay for erosion and flooding control along the Ohio River and the city’s money will go toward other improvements such as Heekin/PNC Grow Up Great Adventure Playground. The park still needs an additional $5 million to be completed by 2017.
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Fifth Third Has Its Day in Court
The class-action lawsuit filed by Fifth Third employees in 2008 regarding massive cuts in employee’s retirement accounts was held this week in the U.S. Supreme Court. According to the Cincinnati Business Courier, the employees claim Fifth Third executives knew their stock had become risky, but continued to invest in the company stock plan that funds the employees' retirement accounts. Fifth Third stock dropped 75 percent from July 2007 to September 2009, which cost employees tens of millions of dollars. The U.S. Supreme Court will ultimately decide whether or not employees can sue their companies over retirement plan losses.
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