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Voters approved the sale of the Cincinnati Southern Railway to Norfolk Southern for $1.6 billion. That revenue will now be invested, but not in gun manufacturing.
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The board hired a consulting firm to rank the 16 applicants who applied for the role. The board winnowed those down to five: UBS, Fifth Third Bank, NEPC, FEG Investment Advisors and Northern Trust.
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An oversight board will interview five applicants for the job of managing a $1.6 billion investment fund resulting from the sale of the Cincinnati Southern Railway.
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Norfolk Southern spent a total of $5,975,000 on a campaign to convince voters to sell the city-owned Cincinnati Southern Railway.
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Voters narrowly approved the sale of the Cincinnati Southern Railway last week, accepting a $1.6 billion deal from Norfolk Southern.
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The official closing of the sale will take place no later than March 15, 2024.
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Cincinnati voters will decide this election whether the city can execute a plan to sell the only municipally owned railroad in the U.S. to a private corporation.
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Cincinnati voters are deciding a hotly debated question on the ballot this election: Should the city sell Cincinnati Southern Railway to Norfolk Southern? On Cincinnati Edition, we devote a second program to Issue 22.
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The first of three public meetings about the sale on the November ballot is Saturday, Oct. 21, at the Evanston Recreation Center.
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Cincinnati voters will decide a hotly debated question on the ballot this election: Should the city sell Cincinnati Southern Railway to Norfolk Southern?