5 things to know: Friday

5 things to know: Friday

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Dykes: Former Reagor-Dykes CFO admits he provided false info to Ford Credit

LUBBOCK, Texas - In his response to Ford Motor Credit's law suit, Reagor-Dykes co-owner Rick Dykes accused the company's former chief financial officer of providing false information to FMC.

Ford Credit notified former R-D chief financial officer Shane Smith of irregularities it found in numbers supplied to Ford Credit. 

According to this new filing, while Reagor-Dykes companies were filing for bankruptcy protection Aug. 1, Smith "admitted that he had provided false financial information regarding the Reagor-Dykes dealerships to Ford Credit and Messrs. Dykes and Reagor. Upon learning of Mr. Smith’s disclosure, Reagor-Dykes Auto Group terminated Mr. Smith’s employment and referred Mr. Smith’s disclosure to the local United States Attorney’s office, which has commenced an investigation." 

Senior U.S. District Judge Sam Cummings granted an extension for parties to respond to Ford Motor Credit's suit. That deadline is Friday. 


$20 million in grants for Texas Tech Health Science Center

LUBBOCK, Texas - Day after day, research advancements are occurring inside the labs of the Texas Tech's Health Science Center and those efforts have been bolstered by $20.5 million in grants.

"From pancreatic cancer to ovarian cancer, to prostate cancer to breast cancer to childhood brain cancer on one end," said Dr. Tedd Mitchell, Texas Tech System Interim Chancellor and HSC president. "And over here you have neurodegenerative changes with Alzheimer and Parkinson's and then you have all the stuff related to microbiology with infectious diseases as well." 

These research grants will also help expand the school's research programs, fund additional equipment, and renovate laboratories. 


Lubbock City Council meeting, members approve next years budget

LUBBOCK, Texas - City council approves next year's budget including a one cent tax increase.

It will mostly go to funding the city's public safety initiative. The $60 million project includes constructing three police substations, a new police headquarters and other facilities. City Manager Jarrett Atkinson said if the tax increase had been rejected, the city would need to cut about $2.8 million from its budget to fund the construction projects.

The council also approves LP&L's rate plan. No one's rates are going up next fiscal year for the first time in five years. It does eliminate the seasonal difference for electric heating customers, similar to the change the power company made during last fiscal year. The rate plan also eliminates the payment arrangement fee to improve customer relations.

Both the budget and LP&L plan go into effect on October 1st.


'Catastrophic' flooding expected in Carolinas
  
WILMINGTON, N.C. (AP) - The National Hurricane Center says that "catastrophic" freshwater flooding is expected over portions of the Carolinas as Hurricane Florence inches closer to the U.S. East Coast.

The now Category 1 storm's intensity diminished as it neared land, with winds dropping to 90 mph (135 kph) by nightfall. But that, combined with the storm's slowing forward movement and heavy rains, had Gov. Roy Cooper warning of an impending disaster.

As of 2 a.m., Florence was centered about 35 miles (55 kilometers) east of Wilmington, North Carolina. Its forward movement increased slightly to 6 mph (9 kph). Hurricane-force winds extended 90 miles (150 kilometers) from its center, and tropical-storm-force winds up to 195 miles (315 kilometers).

Forecasters say the combination of a life-threatening storm surge and the tide will cause normally dry areas near the coast to be flooded by rising waters moving inland from the shoreline.


Trump disputes estimate of Puerto Rico storm deaths

WASHINGTON (AP) - President Donald Trump is rejecting the official death count from Hurricane Maria and falsely accusing Democrats of inflating the Puerto Rican toll from the storm last year to make him "look as bad as possible."

And he did this as Hurricane Florence bore down on the U.S. on Thursday.

Public health experts have estimated that nearly 3,000 perished because of the effects of Maria. But Trump, whose efforts to help the island territory recover have been persistently criticized, was having none of that.

He said just six to 18 people had been reported dead when he visited two weeks after the storm and suggested that many had been added later "if a person died for any reason, like old age."

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