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IRS
2:31 pm
Thu January 9, 2014

IRS Commissioner: finish investigation, make changes

New IRS Commissioner John Koskinen talks to Cincinnati employees on how to make the 501(c)(4) application process more efficient.
Credit IRS

New IRS Commissioner John Koskinen came to Cincinnati Thursday to find out how the process of applying for 501 (c)(4) status can be more efficient and learn from employees what resources they need and what obstacles they have.

Koskinen is known as a turnaround specialist, having run Freddie Mac in the middle of the financial crisis, and guiding Penn Central Railroad and a teamsters pension fund. He was also President Clinton's Y2K czar in the late 1990s. He now aims to restore confidence in the Internal Revenue Service.

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Foreclosure
12:01 am
Thu January 9, 2014

Ohioans still underwater

The number of underwater residential properties is declining nationally, but a new report shows Ohio is still in the top six.

The latest RealtyTrac U.S. Home Equity & Underwater report shows 9.3 million U. S. residential properties were deeply underwater, meaning, they are worth at least 25% less than the combined loans secured by the property.

States with the highest percentage of residential properties deeply underwater in December were:

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Macy's
5:40 pm
Wed January 8, 2014

Macy's laying off thousands as part of cost reduction and organizational changes

Macy's says it's starting a series of cost reductions and organizational changes that will include laying off about 2,500 employees.  In a statement, the Cincinnati-based retailer says they'll be eligible for severance.  Other associates are being reassigned or transferred and the company says some open positions will not be filled. 

Macy's expects all the changes it's implementing to save about $100 million per year. 

Local News
5:32 pm
Wed January 8, 2014

Kasich launches youth drug abuse prevention program

Ohio Gov. John Kasich (file)
Holly Yurchison WVXU

Ohio Governor John Kasich came to Finneytown Secondary School Wednesday to launch "Start Talking,'' a statewide effort to cut down the use of heroin and prescription drugs among young people.
 
Kasich, with Ohio Attorney General Mike DeWine and members of his cabinet at his side, said Start Talking will involve parents, teachers coaches and the students themselves in helping end the drug abuse he said is in every town, in every corner of the state.

It is a problem, Kasich said, which won't go away on its own and has to be met head-on by every family in Ohio.

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Transportation
2:57 pm
Wed January 8, 2014

Hamilton County cracking down on commerical vehicle violations

Hamilton County is dedicating a full-time Sheriff's deputy to catching semis and others breaking commercial vehicle laws.

The Sheriff and county engineer have been working together on this issue but now Engineer Ted Hubbard says the departments are formalizing the arrangement.

"We have to be able to make sure that the vehicles that travel over the roadway system are the proper weight and the proper size," says Hubbard. "If they're not it can cause undue damage to the infrastructure system."

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