jQuery onclick event for <li> tags

I have the following menu items generated by a template generator, artisteer:

<ul class="art-vmenu">

<li><a href="#" ><span class="l"></span><span class="r"></span>
        <span class="t">Home</span></a></li>    
<li><a href="#" ><span class="l"></span><span class="r"></span>
        <span class="t">Create User</span></a></li> 
<li><a href="#" class="active"><span class="l"></span><span class="r"></span>
        <span class="t">List Users</span></a></li>  
<li><a href="#"><span class="l"></span><span class="r"></span>
        <span class="t">Admin</span></a></li>   
</ul>

I want to capture the onclick event for <li> with a single jQuery function: I've tried this which is incomplete:

$(document).ready(function() 
{
   $('ul.art-vmenu li').click(function(e) 
   { 
    alert(this);
   });
});

I can go as far as seeing this is a HTMLliElement but cannot figure how to get the menu text or id for it?

How is menu click usually captured with jQuery?