UPDATE: The Greater Cincinnati Coalition for the Homeless has canceled its Wednesday mock rally for Western & Southern Financial Group. The Coalition Tuesday evening released the following statement: "Due to a change in plans the mock 'Rally to Support Western and Southern' has been canceled. Stay tuned for upcoming gatherings and events to support the Women of the Anna Louise Inn as we fight for the right of self determination."
The following is CityBeat's Tuesday afternoon blog post in response to the event announcement:
The Greater Cincinnati Coalition for the Homeless is helping to organize a mock rally to support what it believes is the bullying of the Anna Louise Inn women’s shelter by Western & Southern Financial Group. The mock group will be called “Citizens for Corporate Bullies” and will hold signs that say “Greed is Good,” “We Support Corporate Bullies,” “Poor Women Not Welcome” and “W&S Take Whatever You Want.” The event begins a noon May 2 at 4th and Sycamore streets.
The Coalition has created a fake persona who supports W&S’s desire to build condos to attract a more desirable class of residents and rhetorically asks, “Besides, what gives the Anna Louis Inn the right to stay in that building just because they own it and it’s been there for a hundred years?”
The protest is in response to ongoing legal issues surrounding the Inn’s proposed expansion and W&S’s development efforts in the neighborhood. CityBeat last October reported on the situation in a story titled, “Putting on the Pressure: Western & Southern won’t take ‘no’ for an answer.” The following is an excerpt summarizing the situation then:
Last summer the facility’s owners rebuffed an offer from the powerful Western & Southern Financial Group to buy their property, triggering a heated legal battle. The company, located near the Anna Louise Inn in the affluent Lytle Park district on downtown’s eastern edge, wanted the site so it could demolish or redevelop the Inn and build upscale condominiums.
After the offer was rejected, the Anna Louise Inn continued with a long-planned renovation and was awarded a $2.7 million loan by Cincinnati City Council. That’s when Western & Southern filed a lawsuit against the Inn and the city, alleging zoning violations.
The showdown pits the Inn, opened in 1909 with the help of prominent attorney Charles P. Taft, against a company that ranks in the Fortune 500 and is headed by CEO John Barrett, an ex-chairman of the Cincinnati Business Committee who is widely considered one of the most powerful men in the city.
The facility’s owners and some city officials say Western & Southern is trying to use its sizable financial resources publicly, along with its political clout behind the scenes, to strong-arm opponents and get what it wants.
Representatives for W&S have stated that the company's $3 million offer to purchase the building is fair and have also offered to aid the Inn in finding a new location.
WVXU reported that supporters of the Inn held a rally April 4 calling for a quick judgment in a court case that could delay funding for the renovation.
Carolyn Washburn has been hired as editor and vice president at The Cincinnati Enquirer, the newspaper announced today. A Greater Cincinnati native, Washburn currently is editor at The Des Moines Register in Iowa.
Washburn, 48, previously worked with Enquirer Publisher Margaret Buchanan while both were at The Idaho Statesman. Buchanan will be Washburn's new boss and made the selection. Washburn begins her new job Jan. 10.
The Pleasant Ridge Community Council wil get words of advice and inspiration tonight from environmental activist Lois Gibbs, who was instrumental in the fight to clean up Love Canal in New York during the 1970s.
Gibbs will speak to the group at 7 p.m. at the Pleasant Ridge Presbyterian Church.
The new year already is looking a lot like the old one for employees at The Enquirer.
Workers at Cincinnati's only remaining daily newspaper got some bad news Wednesday: They can expect to take another five-day furlough during the first quarter of 2011. Robert J. Dickey, who is U.S. newspaper division president at The Gannett Co., The Enquirer's parent firm, announced the latest round of furloughs in a memo sent to workers.
The National Whistleblowers Center (NWC) is urging the Obama administration to use a law signed by President Abraham Lincoln against BP, as a method to circumvent any limits on damages it can seek from the company.
The National Underground Railroad Freedom Center is suffering from a poor economy and continuing financial trouble.
The center announced today that they will be laying off 17 full-time employees, by the end of the year, leaving a staff of 47.
The museum will also no longer be open on Sundays.
Last year, the Freedom Center was caught up in a battle at City Hall when Councilman Chris Monzel attempted to redirect a proposal to give the center $800,000 to pay for speed humps.
At the time this sum was delivered, a $25 million debt remained for the $110 million construction of the center.
The museum has been criticized by state and local officials for requesting public funds after Freedom Center President Ed Rigaud said the center wouldn’t ask for additional public money to balance its books, even after projected and actual attendance numbers dropped dramatically.
Attendance at the center peaked in its first full year open in 2005 at just over 200,000. The numbers have been falling ever since.
For Christmas, the Freedom Center might want to ask for financial independence.
An institutional shareholder at Cintas Corp. will make a motion at the company’s annual meeting later this month seeking to have an independent chairman appointed to its board of directors to improve oversight and increase company performance.
Representatives for the North Carolina Retirement Systems (NCRS), which represents the pension investments of retired North Carolina state employees, said objective oversight is needed at Cintas to represent shareholders and “reverse a five-year trend of underperformance.”
At the company’s annual meeting on Oct. 14th, the pension fund will also support a proposal seeking an advisory shareholder vote on executive pay and will oppose appointing nominee David Phillips to the firm’s board of directors.
The various proposals are supported by Risk Metrics/ISS Governance Services and Glass Lewis, which offer proxy services to institutional shareholders.
Although Cintas is the largest uniform rental company in North America, its stock has underperformed the S&P 500 and its peers for the past five years, according to pension fund representatives. Cintas’s share price is down 18 percent during that period, while shares of its largest publicly-traded competitors are up 83 percent and 4 percent respectively.
Also, Cintas has lost market share in recent years, a trend that accelerated in 2008.
“These proposals offer an opportunity to make real change at a company that is underperforming and failing to address the concerns of shareholders,” said State Treasurer Richard Moore, who manages NCRS, in a prepared statement. “I encourage other institutional investors and shareholders to vote for these proposals and for improved governance at Cintas.”
Some shareholders contend that current Board Chairman Richard T. Farmer and his son, Cintas CEO Scott Farmer, have stacked the 11-member board of directors with friends and close associates that too closely follow the Farmer family’s directives. Cintas began as a private company started by Richard Farmer’s grandfather in 1929, before it was taken public in 1983.
Another institutional shareholder, CtW Investment Group, first proposed blocking Phillips’ appointment to the board due to what it described as an undisclosed conflict of interest and weak leadership in his role as the company’s Nominating and Corporate Governance Committee chairman.
“As lead director and chairman of the Nominating and Corporate Governance Committee, Mr. Phillips bears responsibility for many of the company’s questionable governance practices, which include … inadequate response to legitimate governance concerns,” Michael Garland, a CtW executive, wrote in an Oct. 1 letter to other shareholders.
The letter continues, “As discussed above, nominee Phillips serves as trustee of Cincinnati Works, which received over $200,000 in charitable contributions from foundations controlled by insiders and affiliates of the Company. We question the need for the Company to engage in such significant charitable contributions with one of its directors, especially considering the amount of such contributions as a percentage of Cincinnati Works’ annual revenue.”
In July, yet another institutional shareholder — the Manville Personal Injury Settlement Trust — filed a lawsuit alleging the firm’s board of directors isn’t fulfilling its fiduciary duties and fosters a corporate culture that ignores safety regulations.
At least 10 Cintas facilities nationwide have been cited for safety violations by the U.S. Occupational Safety and Health Administration (OSHA) in just over the past year.
OSHA imposed a $2.78 million fine against Cintas last year for violations that led to the death of Eleazar Torres-Gomez at the company’s laundry facility near Tulsa, Okla., in March 2007. Gomez died after he jumped onto a conveyor belt to dislodge clothes and was dragged into an industrial dryer, where he burned to death.
Federal and state inspectors have issued citations against Cintas facilities in Alabama, Arkansas, California, Illinois, Indiana, Ohio, Texas and Washington.
Since 2003 Cintas has been cited for more than 170 OSHA violations in its facilities, including more than 70 citations that OSHA deemed could cause “death or serious physical harm.”
Cintas representatives say the company has adequate safety procedures and blame the accidents on workers who don't follow their training on how to handle machinery.
Based in Mason, Ohio, Cintas is the largest uniform supplier in the United States. Cintas reported $531 million in profits for the 2008 fiscal year, which ended in May.— Kevin Osborne