By John J. Byczkowski
The Cincinnati Enquirer

Broadwing Inc. late Thursday reprimanded one of its top executives for failing to disclose a financial relationship with a company doing business with Broadwing.

The company said it will amend its 10-K annual report to disclose details of the financial arrangement and will reprimand Jack Cassidy, the company's chief operating officer. The nature of the reprimand was not disclosed, but it appeared that there was no penalty, financial or otherwise. Cassidy's relationship with the outside company was not, however, branded a "conflict of interest."

The reprimand was announced following an evening telephone meeting of the board of directors, where an investigation of the business arrangement was discussed.

The arrangement involved a company called Scorecard Systems Inc., founded in October 1996. Cassidy "participated in the founding" of Scorecard, Broadwing said in a news release.

Cassidy sold his stake in Scorecard Systems in October 1997, when he was president of Cincinnati Bell Wireless, a subsidiary of Cincinnati Bell, which became Broadwing in 2000. Cassidy's share was $1.67 million, to be paid to him during the next five years.

An affiliate of Scorecard Systems, Scorecard Solutions, began doing business with Cincinnati Bell in 1997. Broadwing said Scorecard Solutions had been formed in order to do business with Cincinnati Bell, but Cassidy had no interest in that company.

In early 2002, Scorecard Systems began doing business with Broadwing while it still owed Cassidy money. Scorecard Systems made its last payment of $676,000 to Cassidy in 2002.

In all, Broadwing did $3.5 million in business with Scorecard Systems and Scorecard Solutions, described in Broadwing's statement as providing "tools to enable telecommunications companies to monitor their businesses."

Broadwing officials did not return phone calls Thursday night.

E-mail johnb@enquirer.com.