As part of its slate of endorsements announced today, the Cincinnati U.S.A. Regional Chamber of Commerce stated it's opposed to Issue 48, the proposed charter amendment that would block construction of Cincinnati's planned streetcar system.
The Chamber announced its positions on six local issues that will appear on the Nov. 8 ballot.
The city of Cincinnati is suspending its relationship with SoMoLend, the local startup that the city partnered with in December to connect small businesses and startups to $400,000 in loans.
The broken partnership comes in response to accusations of fraud from the Ohio Division of Securities that have forced SoMoLend to stop giving out loans in the state and could lead to the business’s shutdown.
City spokesperson Meg Olberding told CityBeat in an email that although the city partnered with SoMoLend in December, it has yet to give out any loans through the crowdfunding incubator.
The Ohio Division of Securities says SoMoLend failed to gather the proper federal and state licenses for a peer-to-peer lending business and falsely inflated its performance and financing figures.
SoMoLend gained local and national recognition for supposedly helping foster startup and small businesses by linking them to loans through crowdfunding — a particularly promising proposition given the state of the economy and research from the National Bureau of Economic Research that shows startups are the best drivers for economic and job growth.
But with the extent of the charges, it’s questionable whether SoMoLend had any success to begin with.
Candace Klein, CEO of SoMoLend, told The Cincinnati Enquirer on Sunday that the company is currently in talks with the state. She stressed that the Ohio Division of Securities won’t issue a final order against SoMoLend until after a hearing scheduled for October.
SoMoLend, which stands for Social Mobile Local Lending, was founded in 2011. The business’s specialty is using crowdfunding tactics to connect small businesses and startups with lenders. It then packages the loans to sell them as notes and charges a fee or commission for its services.
When CityBeat profiled the American Legislative Exchange Council (ALEC) in May, just after the conservative organization held a private meeting in Cincinnati, some of its members downplayed conspiracy theories about the group and its love of secrecy.
Fueled by corporate donations, ALEC is credited with working quietly behind the scenes to draft legislation that can then be introduced by elected state lawmakers. Among its efforts, ALEC spearheaded the push in Ohio, Wisconsin and elsewhere to introduce bills that limited or abolished collective bargaining rights for public-sector labor unions.
The membership list that contains the names of the roughly 2,000 state legislators and about 300 private-sector supporters who belong to ALEC is kept confidential.
State Sen. Bill Seitz (R-Green Township), who sits on ALEC's board of directors, noted in the CityBeat article that the identity of its sponsors aren't kept secret. They include the American Petroleum Institute, R.J. Reynolds Tobacco Co., Coors and the National Rifle Association.
Now with the help of Aliya Rahman, an activist based at Miami University in Oxford who organized the Cincinnati protest, The Nation magazine has obtained more than 800 documents representing decades of ALEC's model legislation. The treasure trove of materials is featured in The Nation's Aug. 1-8 issue, which currently is on sale.
[UPDATE: Read more about Rahman's path to unearthing the documents here.]
In conjunction with the Center for Media and Democracy, The Nation asked policy experts to analyze this never-before-seen archive.
As The Nation's John Nichols writes, “Inspired by Milton Friedman’s call for conservatives to 'develop alternatives to existing policies (and) keep them alive and available,' ALEC’s model legislation reflects long-term goals: downsizing government, removing regulations on corporations and making it harder to hold the economically and politically powerful to account. Corporate donors retain veto power over the language, which is developed by the secretive task forces.”
A full archive of the exposed ALEC legislation is available here.
Republican presidential candidate Mitt Romney on Saturday laid out five steps that he said would have America “roaring back” during his first campaign stop since formally accepting the Republican nomination.
At Cincinnati's Union Terminal, Romney was joined on stage by his wife Anne, who spoke briefly, echoing her convention speech meant to humanize her husband.
He said his plan involved encouraging development in oil and coal, implementing a trade policy that favored American companies and not “cheaters” like China, making sure workers and students had skills to succeed in the coming century, reducing the deficit and encouraging small business growth.
“America is going to come roaring back,” Romney told the crowd of thousands packed inside Union Terminal.
Not everyone was so impressed with the GOP nominee’s promises.
About an hour after the Romney campaign event, Cincinnati Democratic leaders held a news conference to rebut the Republican’s speech.
“Much of his (Romney’s) speech was like his speech in Tampa, which is where Romney gave Cincinnatians nothing more than vague platitudes, false and misleading attacks without one single tangible idea on how to move forward,” said Democratic/Charterite Cincinnati City Councilwoman Yvette Simpson.
Simpson, along with Democratic Councilman Cecil Thomas and Bishop Bobby Hilton, attacked the tax plan put forward by Romney and his running mate, Wisconsin Rep. Paul Ryan. They said it would cut taxes for the richest Americans while raising taxes on the middle class by about $2,000 per household, citing an analysis from the nonpartisan Tax Policy Center.
“Mitt Romney’s plan would take Ohio and Cincinnati backwards, and we don’t have time to go backwards,” Hilton said.
Hilton credited Cincinnati’s revitalization and urban development in part on federal money obtained from Obama’s stimulus plan.
“We deserve better than this. We deserve better than Romney/Ryan,” he said.
Romney would have disagreed with Hilton’s assessment of Cincinnati’s growth. During his speech he praised Ohio Gov. John Kasich, crediting him with bringing jobs and businesses to the state.
Romney also took time to attack President Barack Obama’s record in office. The GOP nominee said in preparation for his convention speech he read many past convention speeches — including Obama’s.
“He was not one of the ones that I wanted to draw from, except I could not resist a couple of things he said, because he made a lot of promises,” Romney said. “And I noted that he didn't keep a lot of promises.”
Romney also criticized what he called the bitterness and divisiveness of Obama’s campaign, saying as president he would bring the country together. He mentioned the “patriotism and courage” of the late Neil Armstrong, who was honored in a private service in Cincinnati on Friday.
“I will do everything in my power to bring us together, because, united, America built the strongest economy in the history of the earth. United, we put Neil Armstrong on the moon. United, we faced down unspeakable darkness,” Romney said.
“United, our men and women in uniform continue to defend freedom today. I love those people who serve our great nation. This is a time for us to come together as a nation.”
The candidate’s remarks ignited the crowd of thousands, many of whom wore shirts with slogans like “Mr. President, I did build my business,” in response to a remark made by Obama about businesses being helped to grow by government contracts and infrastructure, and “Mitt 2012: At least he never ate dog meat,” referring to a passage in Obama’s 2008 memoir during which he recalls being fed dog meat as a boy in Indonesia.
Steve Heckman, a 62-year-old environmental consultant from Springfield, Ohio, said he voted for Obama in 2008 but will likely vote for Romney in this election.
He said he’d written “some pretty ugly stuff” about Romney in the past but felt jobs was the No. 1 issue and thought the Obama administration’s policies were sending them out of the country.
“The EPA (Environmental Protection Agency) has, to me, become a little too almost like a fringe group, putting so much pressure on businesses that they are moving to Canada,” Heckman said. “Things like air permits, the EPA is taking too long to issue them. It’s not just power plants they’re affecting, but all manufacturing.”
Heckman said he didn’t blame the president personally but thinks whoever he put in charge of the agency is being too strict.
“I grew up when the EPA was first put in place in the '70s, and they were, in my opinion, doing God’s work,” he said, citing the cleaning up of rivers such as the Cuyahoga near Cleveland, which famously caught fire because of pollution in 1969.
“I support the EPA, but it’s driving businesses out of here.”
Speaking ahead of Romney were U.S. House Speaker John Boehner, Sen. Rob Portman, U.S. Rep. Steve Chabot, Ohio treasurer and GOP senatorial candidate Josh Mandel and Republican U.S. House candidate for Ohio’s 2nd District, Brad Wenstrup.
“This election is all about changing Washington,” Mandel said. “The only way to change Washington is to change the people we send there.”
The corporate parent of The Enquirer is offering a voluntary “early retirement” buyout proposal to rid the company of some older and more highly paid employees.
Robert J. Dickey, president of The Gannett Co.'s U.S. newspaper division, announced the buyout offer Thursday in a memorandum to employees.
LGBT rights are becoming “the new normal” in corporate America, but American Financial Group and Western & Southern Financial Group are apparently exceptions. Both Cincinnati-based Fortune 500 companies received a 0 percent for LGBT policies in the 2012 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC).
The index uses LGBT-related corporate policies to determine scores: non-discrimination policies including sexual orientation and gender identity, company-provided domestic partner health insurance, equal health coverage for transgender individuals, organizational LGBT cultural competency, engagement in actions that undermine LGBT equality and other categories. The full rankings, dubbed a “Buyer’s Guide,” can be found here.
In the Greater Cincinnati area, Cincinnati-based Omnicare, Covington-based Ashland and Highland Heights-based General Cable fared only slightly better than American Financial and Western & Southern. The three companies received 15 points for at least including sexual orientation in non-discrimination policies.
Other Cincinnati-based Fortune 500 companies did much
better in HRC’s rankings. Procter & Gamble got a 90 percent, Macy’s
got a 90 percent, Kroger got an 85 percent and Fifth Third Bank got an
85 percent. The high scores show some companies are providing more to LGBT individuals than local, state and federal governments through equal access to health care and other benefits that aren't written into law.
On a national level, the five low-scoring Fortune 500 companies in Greater Cincinnati show a surprising level of backwardness. In general, the nationwide rankings were very positive this year. In an emailed statement, HRC pointed out 252 companies got 100-percent scores in 2012, up from 13 companies in 1991. As HRC put it, “For American companies, 100 percent is the new normal.”
CityBeat could not reach Western & Southern or American Financial Group for immediate comment. This story will be updated if comments become available.
The Business Courier reported today that many downtown business performed better than expected this holiday season, saying that many didn't perform as well as last year but their revised expectations were met or exceeded. This was attributed to the public's increased support of local businesses.