Western & Southern Financial Group: Difference between revisions
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In May 2013, Western & Southern signed a deal with Cincinnati Union Bethel to purchase the Anna Louise Inn - a historic building housing a women's shelter with over 100 years of service providing low-cost housing and health services to women, including those leaving abusive relationships or prostitution, recovering from drug and alcohol addiction, or transitioning out of foster care. After declining to sell the property to Western & Southern for $1.8 million, less than half its value, Cincinnati Union Bethel was sued by Western & Southern citing a "zoning issue" involving a $12.6 million HUD grant for a renovation project.<ref>http://news.cincinnati.com/article/20130407/NEWS/304070032</ref> After a two year fight, Cincinnati Union Bethel, citing the lack funds to continue the fight, reluctantly agreed to sell the property to Western & Southern for $4 million. The women will be allowed to remain until a new building is finished two miles north in the Mt. Auburn neighborhood - considered to be a shabbier part of the city.<ref name=AP /> |
In May 2013, Western & Southern signed a deal with Cincinnati Union Bethel to purchase the Anna Louise Inn - a historic building housing a women's shelter with over 100 years of service providing low-cost housing and health services to women, including those leaving abusive relationships or prostitution, recovering from drug and alcohol addiction, or transitioning out of foster care. After declining to sell the property to Western & Southern for $1.8 million, less than half its value, Cincinnati Union Bethel was sued by Western & Southern citing a "zoning issue" involving a $12.6 million HUD grant for a renovation project.<ref>http://news.cincinnati.com/article/20130407/NEWS/304070032</ref> After a two year fight, Cincinnati Union Bethel, citing the lack funds to continue the fight, reluctantly agreed to sell the property to Western & Southern for $4 million. The women will be allowed to remain until a new building is finished two miles north in the Mt. Auburn neighborhood - considered to be a shabbier part of the city.<ref name=AP /> |
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Western & Southern CEO John Barrett has often been critical of the Anna Louise Inn while inaccurately referring to its residents as recovering prostitutes and stating they just don't belong in the neighborhood. Many in the community loathe CEO John Barrett and see his efforts to acquire the Anna Louise Inn as a prime example of [[corporate greed]].<ref name=AP /> |
Western & Southern CEO John Barrett has often been critical of the Anna Louise Inn while inaccurately referring to its residents as recovering prostitutes and stating they just don't belong in the neighborhood<ref>http://www.seattlepi.com/news/us/article/Insurance-giant-buys-out-Cincinnati-women-s-home-4511674.php</ref>. Many in the community loathe CEO John Barrett and see his efforts to acquire the Anna Louise Inn as a prime example of [[corporate greed]].<ref name=AP /> |
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The company characterized this disposition as a "win-win".<ref name=AP>http://news.yahoo.com/women-sad-angry-over-sale-nonprofit-ohio-home-152229520.html</ref> Western & Southern has stated that it plans to develop the Inn property as a boutique hotel. However, the women currently living at Anna Louise would be forced to move to accommodate the development project. Further adding to CEO John Barrett's characterization as insensitive and greedy, he stated he believes "nobody will remember" the fight between Western & Southern and the Anna Louise Inn.<ref>http://news.cincinnati.com/article/20130515/BIZ/305150052/John-Barrett-toughed-out-Anna-Louise-fight</ref> |
The company characterized this disposition as a "win-win".<ref name=AP>http://news.yahoo.com/women-sad-angry-over-sale-nonprofit-ohio-home-152229520.html</ref> Western & Southern has stated that it plans to develop the Inn property as a boutique hotel. However, the women currently living at Anna Louise would be forced to move to accommodate the development project. Further adding to CEO John Barrett's characterization as insensitive and greedy, he stated he believes "nobody will remember" the fight between Western & Southern and the Anna Louise Inn.<ref>http://news.cincinnati.com/article/20130515/BIZ/305150052/John-Barrett-toughed-out-Anna-Louise-fight</ref> |
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Revision as of 20:18, 22 May 2013
| File:Western & Southern Financial Logo.JPG | |
| Company type | Mutual |
|---|---|
| Genre | Financial Services |
| Founded | 1888 as Western and Southern Life Insurance |
| Headquarters | Cincinnati, Ohio , United States |
Key people | John F. Barrett |
| Products | Insurance, Annuities, Mutual Funds |
| Revenue | 5,392,160,000 United States dollar (2021)  |
| 535,230,000 United States dollar (2021) | |
| Total assets | $52 billion |
| Website | www.westernsouthern.com |
Western & Southern Financial Group, also commonly referred to as Western & Southern, is a Cincinnati, Ohio-based diversified family of financial services companies with assets owned, managed and under care in excess of $52 billion as of March, 2011.[1] It is one of the eight highest-rated life insurance groups in the world based on Standard & Poor's rating.[2]
With heritage dating back to 1888, Western & Southern is a Fortune 500 company ranking at 482 as of 2012.[3] Through its member companies, Western & Southern offers a variety of financial services such as life insurance, annuities, mutual funds and investment management. Western & Southern's member companies include The Western & Southern Life Insurance Co, Western-Southern Life Assurance Co, Columbus Life Insurance Co, Lafayette Life Insurance Co, IFS Financial Services, Fort Washington Investment Advisors, Eagle Realty Group, Integrity Life Insurance Co, and National Integrity Life Insurance Co.
Western & Southern's annual report is available at "Western Southern Annual Report" (PDF). Western & Southern Financial Group. Retrieved 2011-05-20.
Western & Southern hosts the Western & Southern Open tennis tournament. This tennis event has contributed more than $5.5 million to charities in the Greater Cincinnati community.[4]
Western & Southern played a key role in the development of the Great American Tower at Queen City Square project in downtown Cincinnati, Ohio.
Anna Louise Inn
In May 2013, Western & Southern signed a deal with Cincinnati Union Bethel to purchase the Anna Louise Inn - a historic building housing a women's shelter with over 100 years of service providing low-cost housing and health services to women, including those leaving abusive relationships or prostitution, recovering from drug and alcohol addiction, or transitioning out of foster care. After declining to sell the property to Western & Southern for $1.8 million, less than half its value, Cincinnati Union Bethel was sued by Western & Southern citing a "zoning issue" involving a $12.6 million HUD grant for a renovation project.[5] After a two year fight, Cincinnati Union Bethel, citing the lack funds to continue the fight, reluctantly agreed to sell the property to Western & Southern for $4 million. The women will be allowed to remain until a new building is finished two miles north in the Mt. Auburn neighborhood - considered to be a shabbier part of the city.[6]
Western & Southern CEO John Barrett has often been critical of the Anna Louise Inn while inaccurately referring to its residents as recovering prostitutes and stating they just don't belong in the neighborhood[7]. Many in the community loathe CEO John Barrett and see his efforts to acquire the Anna Louise Inn as a prime example of corporate greed.[6]
The company characterized this disposition as a "win-win".[6] Western & Southern has stated that it plans to develop the Inn property as a boutique hotel. However, the women currently living at Anna Louise would be forced to move to accommodate the development project. Further adding to CEO John Barrett's characterization as insensitive and greedy, he stated he believes "nobody will remember" the fight between Western & Southern and the Anna Louise Inn.[8]
In addition to the protracted legal fight and numerous rallies and protests against Western & Southern, women living at the Inn filed a federal lawsuit alleging Western & Southern violated the federal Fair Housing Act. It accused Western & Southern of vilifying residents, photographing them without their permission and accusing residents of engaging in unsubstantiated criminal activity and other inappropriate behavior in the neighborhood.[9]
In support of the Anna Louise Inn, a video was made by an organization, Cincinnati Faith and Justice, parodying Western & Southern's attacks on the Inn.[9]
References
- ^ http://www.m3annuities.com/?q=integrity
- ^ “Speakers” http://www.forumforglobalcities.com/speakers
- ^ "Fortune 500 2011: Top 500 American Companies". CNN.
- ^ "Director dropped from Western & Southern tennis event," by Shannon Russell. Cincinnati Enquirer, Jan. 12, 2011.http://news.cincinnati.com/article/20110112/SPT/101130325/Flory-dropped-from-W-S-tennis-event
- ^ http://news.cincinnati.com/article/20130407/NEWS/304070032
- ^ a b c http://news.yahoo.com/women-sad-angry-over-sale-nonprofit-ohio-home-152229520.html
- ^ http://www.seattlepi.com/news/us/article/Insurance-giant-buys-out-Cincinnati-women-s-home-4511674.php
- ^ http://news.cincinnati.com/article/20130515/BIZ/305150052/John-Barrett-toughed-out-Anna-Louise-fight
- ^ a b http://www.citybeat.com/cincinnati/article-25973-surrounded_by_skyscr.html