Wednesday, February 21, 2007

Mayor wants MLGW surplus for new stadium??

Memphis Watchdog says Mayor Herenton may have his eye on MLGW (Taxpayer owned utility Memphis Light, Gas, and Water) surplus to pay for new stadium:

Link

Year after year they keep piling up profit when they should be returning these profits to the ratepayers in lower rates. Why do the City Council and the media not investigate this surplus? Could it be that the Mayor has his eyes on this surplus to finance his new stadium as he did with the Water Division of the MLGW which is required to pay $2.5 million per year for the FedEx Arena for over $60 million total. Time will tell but not before the election.