Tuesday, May 21 2013 7:20 PM EDT2013-05-21 23:20:28 GMT
The Cincinnati Tea Party announced that it will protest the IRS on Tuesday over the targeting of liberty groups regarding their tax status. The protest will begin at Fountain Square at noon on TuesdayFull Story >
The Cincinnati Tea Party protested the IRS on Tuesday over the targeting of liberty groups regarding their tax status. Full Story >
CINCINNATI, OH (FOX19) -
Standard and Poor's has downgraded the city's bond rating outlook, according to a memo sent out by the Cincinnati city manager.
The city requested the bond rating in anticipation of the sale of over $50 million in bonds that will be issued next week. The bonds include $33 million being issued for the streetcar project.
The S&P report points to a "structural gap" resulting from revenue losses that could necessitate reserve funds to balance the City's budget as the source of the revised outlook.
S&P's official bond rating was AA+, the second highest rating assigned by the agency.
Moody's outlook remained stable, noting the city's credit quality "has not considerably weakened during the economic downturn". The agency warns the city's failure to meet the required pension contributions could result in a downgrading of the outlook.
The rating agency's Aa1 rating held, citing the city's "pressured, but still satisfactory financial position". Strengths identified by Moody's include "longstanding prudent financial policies", income tax revenue growth, and redevelopment in the city. Challenges pinpointed include a "reliance on economically sensitive income tax revenues" for the General Fund, significant budget gaps leading to cuts, and pension contribution concerns.
In the memo, the city administration reaffirmed its position that the foundation of Cincinnati's financial issues stems from revenue losses.
The city administration says its goal is to earn back a stable outlook designation from S&P by showing the fiscal stewardship necessary for that distinction.
The city manager points to economic development as a means to increase the revenue sources needed to stabilize the city's "structural imbalance".
Tuesday, May 21 2013 10:36 AM EDT2013-05-21 14:36:49 GMT
(RNN) – A day after long track tornadoes devastated Shawnee and Edmond, OK, another round has begun near Oklahoma City.KOCO broadcast a slow rotating cloud that slowly extended down towards the groundFull Story >
Dozens of people have died after a second day of tornadoes twisted through Oklahoma, this time taking aim at the town of Moore, south of Oklahoma City.Full Story >
Monday, May 20 2013 9:15 PM EDT2013-05-21 01:15:38 GMT
A massive tornado touched down to the southwest of Oklahoma City Monday afternoon. Starting out as a classic funnel it quickly became a giant half-mile wide wedge tornado as it proceeded east north eastFull Story >
A massive tornado touched down to the southwest of Oklahoma City Monday afternoon.Full Story >
Tuesday, May 21 2013 9:44 AM EDT2013-05-21 13:44:48 GMT
Eastbound 275 is closed this morning at the Kellogg due to a roll-over accident with an entrapment. The one car accident happened just after 3A-M. The car landed in the median. One person was takenFull Story >
Officers say speed and alcohol are suspected to be factors in the crash. Jones was wearing his seatbelt. Full Story >
Monday, May 20 2013 5:35 PM EDT2013-05-20 21:35:49 GMT
(RNN) - On May 3, 1999, an F5 tornado touched down near Chickasha, OK and cut northeast through the state before dissipating near Midwest City, OK.Monday's tornado that devastated Moore, OK closely followedFull Story >
In 1999, Oklahoma City saw an F5 tornado that caused more than $1 billion in damage. Full Story >
Tuesday, May 21 2013 6:22 AM EDT2013-05-21 10:22:59 GMT
Cincinnati Firefighters are responding to a fire in the 1800 of Jackson Street in Lincoln Heights. Witnesses reported seeing flames on the back side of the building. The location was known as "The SugarFull Story >
Crews from Woodlawn, Evendale and Wyoming are on the scene. The fire is out but the building is still smoking. Full Story >
A 23-year-old father is charged after allowing his 9-year-old daughter to drive. Police were called to the parking lot of Headland's State Park in Painesville Township on Sunday around 10:15 p.m. afterFull Story >
A Lake County, Ohio father is charged after allowing his 9-year-old daughter to drive.Full Story >
Monday, May 20 2013 10:39 PM EDT2013-05-21 02:39:58 GMT
Police are looking for the suspects who robbed the Fresh Market in Oakley. It happened just before 10 p.m. Monday night at the location on Madison Road. Initial reports are that two men with guns enteredFull Story >
Police are looking for the suspects who robbed the Fresh Market in Oakley.Full Story >
Monday, May 20 2013 10:00 PM EDT2013-05-21 02:00:13 GMT
Bonnie Esrig worked for the IRS for 38 years, many of which were spent in the Cincinnati field office. She retired in January 2013 as an Area Manager in Exempt Organizations Determinations. Esrig saysFull Story >
Bonnie Esrig worked for the IRS for 38 years, many of which were spent in the Cincinnati field office.Full Story >
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