Speed critical of Hood lawsuit

Leland Speed says that Hood’s plan to renew his lawsuit against a national insurance company over homeowners’ claims following Hurricane Katrina hurts not only the homeowners, but economic development on the Gulf Coast as well.

Speed, who left MDA at the end of last year and is currently chairman of EastGroup Properties and other development companies, claimed that Hood’s determination to pursue a class-action lawsuit will only slow the process of recovery.

“We don’t enjoy the reputation of having the finest business climate in America, and this isn’t going to help it a damn bit,” said Speed.

Madison County Journal