Cincinnati • March 5, 2025
Good morning, Cincinnati. After 47 years with the company, Kroger CEO Rodney McMullen's sudden resignation amid a personal conduct investigation has sent ripples through one of our city's corporate cornerstones. The shakeup comes as Cincinnati quietly claims an unexpected national title: we're leading the country in office-to-residential conversions per capita, with nearly 12 million square feet of potential space being reimagined for a post-pandemic world.
Meanwhile, literacy blooms across the region as Cincinnati Children's Hospital deploys over 125 employee volunteers to 14 local schools for Read Across America week. These reading champions are sharing STEM-focused books and donating 800 volumes to inspire young minds. The heartwarming initiative offers a bright contrast to the city's financial picture, where a concerning $1.6 billion shortfall has earned Cincinnati a "Sinkhole City" designation and saddled each taxpayer with a theoretical $13,400 share of municipal debt.
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π Kroger CEO resigns amid personal conduct investigation after 47-year career. Rodney McMullen stepped down following a board investigation that found his personal conduct inconsistent with company ethics policies. Cincinnati is making headlines in real estate, leading the nation in office-to-residential conversions per capita with 11.9 million square feet of potential space. Other local developments include a $21M affordable senior housing project downtown, a $150M Hyde Park Square development, and Miami University's plans for a new $187M arena. The article concludes with the author's reflections on hiking at Cincinnati Nature Center.
π Cincinnati Children's volunteers spark literacy in 14 local schools. Over 125 employees are reading to elementary students across Southern Ohio and Northern Kentucky during Read Across America week. The volunteers share STEM-focused books like "Rosie Revere, Engineer" and "Cutie Sue Fights the Germs" while engaging students in creative engineering activities. Cincinnati Children's will donate 800 books to regional schools as part of their mission to help children thrive both physically and emotionally. The hospital has partnered with schools for Read Across America since 2015.
π° Cincinnati plunges deeper into debt with $1.6 billion shortfall. The city earned a "D" grade and "Sinkhole City" status in Truth in Accounting's latest financial assessment, burdening each taxpayer with $13,400 in debt. Cincinnati's financial troubles stem primarily from its retirement system's pension debt doubling after a more realistic projection rate was applied. Additionally, the police budget increased by $2 million due to overtime costs addressing violent crime and officer attrition. With only $1.1 billion available to pay $2.7 billion in bills, city leaders face difficult choices between financial stability and maintaining essential services.
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