FILE – In this Aug. 19, 2015, file photo, former Subway pitchman Jared Fogle leaves the federal courthouse in Indianapolis, following a hearing on child-pornography charges. Fogle is scheduled Thursday, Nov. 19, 2015, to face a federal judge in Indianapolis for sentencing, after agreeing in August to plead guilty to charges of illicit sexual conduct with a minor and receiving child pornography. (AP Photo/Michael Conroy, File) Subway foundation head facing prison
Federal prosecutors are asking a judge to sentence the former director of a foundation created by longtime Subway spokesman Jared Fogle to 35 years in prison followed by a lifetime of supervised release for providing homemade child pornography to his former boss.
A sentencing memorandum filed Thursday in U.S. District Court in Indianapolis and signed by U.S. Attorney Josh Minkler says Russell Taylor “repeatedly engaged in criminal activity targeting children” and that his actions “greatly impacted the lives of 12 children and their families.”
Taylor is expected to plead guilty Dec. 10 to child exploitation and child pornography charges. He’s admitted using hidden cameras to produce child pornography.
Mississippi utility will cut rates
Mississippi utility regulators are approving a settlement cutting rates for consumers but paying Mississippi Power Co. for part of its Kemper County power plant.
The Public Service Commission voted 3-0 Thursday to approve a previously announced agreement between the unit of Atlanta-based Southern Co. and the Public Utilities Staff.
A residential customer using 1,000 kilowatt hours monthly, will see bills fall $5 to $139 monthly. That reduces an emergency rate increase imposed in August, but rates will remain about 15 percent higher.
Because commissioners found the entire emergency rate increase wasn’t justified, Mississippi Power will credit bills with a refund in 90 days. Residential customers will get $23.
The agreement increases overall rates for Mississippi Power’s 186,000 customers by $126 million annually, not the $159 million the company sought.
Growth in services slows during May
U.S. services firms grew again last month – but at the slowest pace since May.
The Institute for Supply Management reported Thursday that its services index slid to 55.9 last month from 59.1 in October. The November reading was the lowest since May’s 55.7. Still, any reading above 50 signals that services firms are expanding.
The survey registered slower growth for business activity, new orders and employment in the services sector.
Factory orders up last month
U.S. factory orders rebounded in October after two prior monthly declines, helped by rising demand for aircraft, computers and machinery.
Factory orders rose 1.5 percent in October, the Commerce Department said Thursday. This follows monthly declines of -0.8 percent in September and -2.1 percent in August.
Factory orders have tumbled 7.1 percent year-to-date.
30-year mortgages drop to 3.93 percent
Average long-term U.S. mortgage rates edged lower this week for a third straight week.
Mortgage buyer Freddie Mac said Thursday the average rate on a 30-year fixed-rate mortgage slipped to 3.93 percent from 3.95 percent a week earlier. The average rate on 15-year fixed-rate mortgages eased to 3.16 percent from 3.18 percent.
The key 30-year rate was above its level of a year ago, 3.89 percent. Despite the recent declines, the rate has increased significantly overall since the end of October, when it stood at 3.76 percent.