VOL. 123 | NO. 244 | Monday, December 15, 2008
Will Seek $7 Million In Damages
Former Memphis Light, Gas and Water Division president and CEO Joseph Lee is set to file a lawsuit in Shelby County Chancery Court Tuesday against all 13 members of the Memphis City Council. He plans to ask for more than $7 million in damages.
In what could be viewed as one of the effects the economic slump is having on cash-strapped Memphians, a nonprofit group that teaches financial literacy classes is adding two teachers to its program.
Low-income customers of Memphis Light, Gas and Water Division eventually could see some relief in the form of lower utility bills if an ordinance the Memphis City Council will discuss Tuesday is approved.
WASHINGTON (AP) – Drivers clocked 9 billion fewer miles on the nation’s roads in October even while gas prices were dropping, suggesting a downturn in driving that began a year ago is attributable to more than just energy costs.
WASHINGTON (AP) – Consumers reduced their spending at retail stores again in November while the costs of goods before they reach store shelves also continued to drop, more bad signs in a recession that appears to be deepening.
The students mix with the masters at Memphis Drum Shop.
JACKSON, Tenn. (AP) - Defense lawyers say they haven't yet seen the government's evidence against two young white supremacists accused of plotting to kill President-elect Barack Obama.
NASHVILLE, Tenn. (AP) - The state Funding Board has adopted revenue projections that assume the state's general fund budget shortfall could plummet more than $1 billion by the end of June.
NEW YORK (AP) - General Motors Corp. said Friday it will temporarily close 20 factories across North America and make sweeping cuts to its vehicle production as it tries to adjust to dramatically weaker automobile demand.
NEW YORK (AP) - A Wall Street powerbroker for nearly 50 years who built an influential firm has confessed to a massive fraud scheme that will cost investors at least $50 billion, federal authorities say.
WASHINGTON (AP) - With Congress gridlocked and the economy flailing, the Bush administration declared Friday it would step in and prevent the "precipitous collapse" of the U.S. auto industry and the disastrous economic impact of the hundreds of thousands of job losses sure to follow.
NASHVILLE, Tenn. (AP) - Solar technology company Hemlock Semiconductor has scheduled two events in Michigan and Tennessee on Monday to announce a multibillion dollar investment.