Thursday, March 07, 2002

Norwood to get windfall


Some say they weren't informed

The Cincinnati Enquirer

        NORWOOD — The city will receive $1.6 million from Anthem Inc., the former mutually-held insurance company that became a public company last year.

        The switch caused the city to be allocated stock, which will be transferred to the city in April. The city is not allowed to hold stock under state law and must sell it. City officials are embroiled in a debate over how recently the city learned of the windfall.

        City Service-Safety Director Jack Cameron said Treasurer Tim Molony and Councilman Joseph W. Sanker were the first to learn of the amount in December.

        An information packet was addressed to former Mayor Joseph E. Sanker and placed in his son's mailbox at city hall, he said. Mr. Molony received separate notice.

        Mr. Cameron criticized the two for sitting on the information while council members cut four positions and discussed other budget cuts.

        But, “that's a flat-out lie,” Mr. Molony said. “For people to try to make something of this is ridiculous.”

        Mr. Sanker could not be reached.

        Anthem officials said they sent all their members pertinent stock information in August.

       



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