My Billy cunning in the Great American. Of course, some good news came
out a story written by Sharon Coolidge of The Inquirer. Remember the one point
six billion dollars of the Cincinnati Southern Railway Trust. It's grown by fourteen million
dollars in the first two months. And Amy Murray course on the board with
other of the fathers and mothers, the grandfathers of Cincinnati, Charlie Luke and
Mark Mallory and many others. But this is a little bit of a surprise.
I'm also watching last night John Schneider, who's the number one supporter for
the streetcar, saying, with all this money coming in, we can take
the streetcar to Newport, maybe the Clifton, maybe out to Western Hills.
Who knows what this means. But Amy Murray, welcome again to the Bill
Cunningham showing, first of all, give the American people kind of an overview
of what happened on or about the middle of March. And what happened,
how come you made fourteen million dollars? Are ready? How's it going to
be spent? Is that a surprise? Give us all a full report.
Absolutely, So the middle of March we officially closed on the railway, and
so we sold the railway to Norfolk Southern. We then had the one point
six billion dollars that we needed to invest. Earlier in the year, we
sent out an RFP Request for proposal and had about eighteen people that applied to
be our financial advisors, and we had a lot of interviews going through that
and we ended up selecting UBS and they have a local office here and their
New York folks came in as well. So UBS are our financial advisors and
we met with them and talked about the way that we were going to start
putting the money into the market or into bonds or into cash or whatever.
And you know, they've implemented the plan and have done a great job.
As you said, we brought in almost fourteen million dollars. And the great
thing to Willie is UBS has been a great partner for us. They're locals,
so we've been able to talk to them a lot. They were there
yesterday black Rocks, so they brought in some of their other financial managers that
they use, so they brought the Blackrock into discuss how they're investing the money.
So it is going great. You know, it's always hard. We
have a limited amount in equities in the market because as a market goes up
and down, and we have more bonds where we can be assured as far
as the money that we'll receive in returns. But I think we have a
really good balance that we'll be able to provide, you know, additional money
to the city. We allocated thirty six million to go to the city.
I think it will probably go in July or August of this year or next
year, this year, this year, this year, and then what we
have to do it's interesting, is we have to let the city know in
September of this year how much we're going to give them next July, so
that they can budget for that money and so that they can budget for things
as we talked about as infrastructure. And so the way that we're going to
be able to do that, which is so great, will is when we
look at our bonds. We'll have interest payments interest rate payments on those,
so we know exactly what those will be for the year. Those are fixed,
and then some of the companies that were with with equities will know what
the dividends are, so we'll be able to look at that money and say
to the city. We know absolutely we will have this much money that we
can you know, we can look at and allocate a certain percentage of that.
And then on top of that we also still have the equity growing.
And so before the sale the least payments rough in about twenty six million a
year from the railroad and correct, there's no promises that there's no guarantees except
through Midas Muffler. But if somehow something goes wrong in the economy and then
you release less money to the city and not more. I guess as a
someone involved in politics, who appoints to five members of the board, that's
you, Charlie lucan and and Tiller and uh and Mark Mallory and who Paul
and Paul's sevest So there are five of us and only three can be from
one political party, so that you have diversity among the folks. So the
mayor selects the people and then council has to approve it. Are you getting
any pressure to your knowledge from a city council then unless you agree to expand
the street car, they may come and get your seat. Oh absolutely not.
No, We are a separate entity from city council. It's the same
thing. It's no different than how it would have been two years ago.
I mean city council always could have said, you're giving us this money,
this is you know, you need to give us for this way. Otherwise
we're going to pull your seat. That's just not something that can happen.
We give them the money and they are responsible for it to go for infrastructure,
and that's what they need to do. So nothing has changed from our
end. We still give them the money and that's what they're supposed to use
it for, and that's what they've used it for for the past fifty years.
You know they've used it. Now. What we're going to do,
though, Willie, is we want to We're revamp our website CINCINAI Southern Railway
and put how the money is spent so that users have complete you know,
taxpayers have transparency and can say, ah, Cincinnati Southern Railway gave them thirty
five million dollars this year forty million dollars. These are the projects that they
used it for. So we want to have complete transparency with the voters.
Well, we'dn't like to hear that at all because there's always backroom deals.
But nonetheless, when John Schneider and others. He's the great advocate for the
streetcar, by the way, is free and he's talking about expanding it up
to Clifton out the Newport. And there's some on council not in their heads,
like like they're a bobblehead who has control over how the money is spent?
Could they could City Council spend the money on the streetcar expansion Welle.
I don't believe that they can because it has to be for current infrastructure maintenance.
So I don't believe they can, and I don't think that they would.
I don't think that they know the CSR money. We have so many
potholes that need to be fixed, so many roads that need to be fixed,
bridges that you know, whatever money we give them, there are going
to be plenty of really important opportunities. So it's up to the people though
that you elect. It's up to the mayor and elected officials of how they
spend that money. So I encourage people to go to council meetings and pay
attention to how they're spending the money, same as they should have two or
three years ago. Nothing has changed from our viewpoint. They're still getting money,
but the amount of money could skyrocket. In fact, in good times
like these, if you're making like seven million dollars a month, my simple,
dear Park Matt tells me that's about eighty four to eight ninety million dollars
in a year. But then you wouldn't release all that money anyway, correct
if they have a great year, athlete, explain that to the American people.
Yeah, well absolutely, so it's on paper right now fifteen million.
And so something happened to the stocks. It's going to change every day.
And our advisors told us, you know, don't look at it on a
daily basis, because if the stock market goes up a little or down a
little, it can have a huge impact on your money. And so what
we're looking at is we're going to use the dividends and the interest payments interest
rate payments to fund the city. And if we had a year where we
had ninety million, then we'll determine what percentage what a month we'll give to
the city. It needs to be more than twenty six million dollars. Twenty
six point five, I think is what we guaranteed. It'll be more than
that, but we want to keep adding back into the principle so that if
there are down years, we have the buffer there. This is a thirty
year deal, right growing with Lucan and Sylvester and mew Thing and you the
thirty year deal. It's like you and this is something And I've had many
people tell me, well, how much money is Charlie Lucan making out of
this deal? How come they're doing that thing? How about Mallory? Can
you explain that to the American people? Yes, I'm so glad that you
asked me. I mean, this has probably been one of the best nonprofit
boards that I have ever been on. As I said, it's bipartisan.
We have Democrats and Republicans. We all work so well together and look at
what's in the best interest for the city. How can we get more money
for the city. None of us get paid, none of us have an
interest in it. In the amount of hours that you know, the board
members have put in to really look at this deal the last two or three
years, it has been huge amounts of hours. And in the bylaws it
does say that we could pay ourselves, but we don't. And as I've
said before, we don't even get our parking paid for. So you know,
there's there's nothing that any of the people are making from the board.
They are just there to do the best they can for the city. So
you're making no sense at all, because most people I talk to don't believe
that somehow they're saying new things getting paid somehow Amy's making money on the side.
Mallori with Logan and I say, no, they don't. That's a
bunch of bs. So can you say again, how much money salary,
expenses, fees, consultants, whatever it is. How much money are each
of you making? Zero percent? And when we had our celebration dinner after
it's sold, we all paid our own meals, so nothing was paid back
to anyone else. So we make absolutely no money. We pay all our
own expenses, and it's a lot of time and energy, especially like Paul
muf you needs the charity and all. He has spent so much time looking
at this deal and it's really been a service and a sacrifice to the city.
And so it does make me really upset if people say what's in it
for you guys, because there is nothing in it for any of us,
you know, And I think Charlie and Mark Mallry are doing it's part of
their legacy. They care for the city so much, and it's really an
incredible way that they can serve. And you know, I think it should
be looked at as how boards should work together. You're making no sense at
all. Nonetheless, how do you just give me your brief thought about how
the city's doing right now? I was so upset when Liz Keating did not
win because there had to be somebody on council to keep an eye on the
other eight or nine and she lost. Going away, and I'm looking at
open air drug markets. Cops tell me that they stand down, relax,
don't, don't do things. There's an open air drug market, Saint Francis
Sarah. That's going on as I speak. And the solution is to shut
down the Republic Street, as if that's going to solve the problem. We've
had massive shootings and other different qualities. And the mayor had a news conference
the other day and said, well, we're going to keep open the swimming
pools a bit longer and keep open the rec centers, have some midnight basketball.
And so if that's going to solve the problem, do you think the
city's in trouble? You know, I worry about the city, and I
worry that we only have Democrats and elected office. And I'm not saying that
even if there's all Republicans, I think that you need to have the vocal,
loyal opposition. You need to have people. I played that role on
council that said hey have you thought about this? And maybe you don't sway
people's votes, but you you do change minds and you change outcomes and things.
So I'm sad that Liz is not on council because I think she played
a really important role. And I think it's a shame that the city doesn't
have equal representation. I mean within the city, I think we have twenty
thirty percent Republicans, but they are zero percent represented and independence as well,
and so I think when you have one party rule, I think you have
less individuals making decisions. And I think that that's never a good idea.
And I think, you know, with our pro secutter race coming up with
Melissa Powers, you know she is really all about law and order, as
Joe Dieters was, and I worry that if that changes, you know,
that's really important. We've we've seen what happens in other cities when you have
a prosecutor that doesn't hold that don't hold people accountable for their crimes. It's
a it's a bad thing. And I don't know this has been a time
in our history where there's no Charter Rights, no Republicans, and all Democrats
on council. In fact, all the Democrats controlled every county office except the
prosecutor's office. That's going to be a fight to keep it, and it's
not the way it should be. The engineersioneer office. But you know,
you know what I think with that, and you are absolutely right because when
you have just nine people that are all of one party. Our last election,
really there were ten people that were running. The citizens of Cincinnati were
not given a choice. When I ran, there used to be twenty five,
thirty thirty five people running. But what's happening now is Democrats realize that
you need to be on the sample ballot she get elected. So people are
self to themselves not to run. And when that happens, then you have
the Democratic Party or whatever party is in charge, has a bigger role to
play because they'll say, hey, if you don't toe the line, you're
not going to be on our ballot. Right, And so you know,
I don't think that's good for voter. That takes away people's independent views on
things it does. And there's no fights going on in city council. There's
no charterright, there's no Amy Murray, there's no one Ken Blackwell, there's
no one overlooking and saying, hey, what about this. Everyone speaks with
one voice and the county government speaks with one voice, and it's not the
way it ought to be. Well, Amy, we got to go.
I guess congratulations. The one point six billion came in. It's making about
seven million dollars a month, which is above expectations. And I hope the
city doesn't spend the money on expanding the streetcar, which you tell me is
going to be difficult. I guess they can maintain the Presidency Streetcar, but
they can't expand that, I hope, But we'll see what happens. From
Amy Murray, once again, you're a great American. And thank you for
coming on the Bill Cunningham Show this glorious Wednesday afternoon. Thank you very much.
Absolutely thanks Billy by Amy Murray. She's about the best there is.
And no, they're not making any money now, No one believes that,
and I know the integrity of Charlie Luken. I know the integrity of Sylvester.
I know the integrity of Paul Muthing and Mark Mallory, and whenever I
get with him, we laugh together. I know Amy Murray has principles and
values. And they all say they make no money. And guess what,
I believe them. I know you don't, but I believe them. I'll
just continue with more. Bill Cunningham The Great American Live, It's Home of
the Reds, kicking off about five forty did I, by the way,
the weather looks better than we thought tonight starting at five point forty, first
pitch about six forty, all on news radio seven hundred WULW. Meanwhile,
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you give it a try? Of course not. Guys will say anything for
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