"Clockwise direction: winter setting
Counter-clockwise: summer setting I often forget to do this until I'm miserable, but just had my lightbulb moment and did it a week or so early. (Hey, I'm in Texas.)"
Here's the text from Frugalforlife.blogspot.com:
In hot weather, operate the fan in the normal, counter-clockwise direction. This creates a cooling "wind chill" effect to make you feel up to 8 degrees cooler. The room thermostat setting can then be raised, resulting in reduced air-conditioning energy consumption of 40 percent or more.
Re-edited from a post originally published on 05.23.05