Bloggers have done an extraordinary job of documenting the Networx debacle in Memphis. The taxpayers of Memphis invested $29 million in this company and it now appears the "investment" has been a TOTAL loss. The company has refused to reveal even the most basic information to the citizens and now we know why.
West TN Liberal gives Kudos to the Pesky Fly who has done a great job on his blog and in the Memphis Flyer.
and Memphis WatchDog has been on this story even longer.