Eddy Elfenbein submits: Tobacco companies are hated by the public but the stocks are very tempting financially. Over the weekend, Barron’s looked at Altria ( MO ): At around 18.50, Altria has one of the lowest price/earnings ratios in the global cigarette industry. It also has one of the highest dividend yields: 7.3%. The stock trades for 10.6 times projected 2009 profits of $1.77 a share and...
A Lagos High Court has dismissed three applications seeking to strike out the names of International Tobacco Company Limited, British American Tobacco Plc and British American Tobacco (investment) Limited from the $21 billion suit instituted by the Lagos State Government and Environmental Rights Action/Friends of the Earth, Nigeria (ERA/FoEN).
Disclosure: I'm proud to be working with the American Association for Justice to protect patients' rights. With the passage of Health Care Reform in the House, the stakes are rising by the day. As we saw this weekend with the adoption of the Stupak-Pitts amendment, changes to the bill can be made with blinding speed and millions of Americans can lose out in hours. Thanks to a well-funded and decades...
Reynolds is in advanced talks to buy a Swedish maker of products that help people stop smoking, a move that could signal a profound shift in direction in the global tobacco industry.
The Mole submits: Markets seemed a little confused on Friday following the release of the October non-farm payrolls report. And that’s not surprising, as the report had something for everyone to latch onto to support their respective bullish or bearish views. Most neutral of all was the headline outcome – the 190k decline in non-farm payrolls was little different to market expectations....
Many investors are being sold on the idea of generating income in retirement by solely focusing on fixed income securities. That way they would have a stable income pretty much for life and there is a high likelihood that the principle would be returned intact after the bond matures. The main problem with this strategy is that while the income would remain unchanged over time, its real purchasing...
Reynolds is in advanced talks to buy a Swedish maker of products that help people stop smoking, a move that could signal a profound shift in direction in the global tobacco industry.
J ust want to say a word about the passage of “national health care” -- maybe not a very welcome word. There comes a time, I think, when you have to point to the American electorate, who put those Democrats in place: in the House, in the Senate, and in the White House. Pelosi et al. did not shoot their way in; they didn’t stage any kind of coup. They were all elected, by good ol’...
Joost Hilterman in the NY Review of Books thinks 2010 could be a very bad year: [J]ust as Odierno will be pulling out his first combat brigades, starting in March, Iraq will be entering into a period of fractious wrangling...
In the past, I posted a list of the top spenders on lobbying for the first quarter of 2009 . Here's a list of the top spenders for the third quarter of 2009. You'll notice that the Chamber of Commerce has really stepped up their spending. As with the last time I posted a list of top spenders on lobbying, this list is imprecise. That is because each of these organizations may have also spent additional...
Click on the picture to enlarge Other Hilton Head Island Concours d’Elegance & Motoring Festival Photos Winners Chosen for Eighth Annual Hilton Head Island Concours d’Elegance & Motoring Festival . The premier winners, the coveted ‘Best of Show’ and ‘People’s Choice’ awards along with the two recently established honors ‘Most Outstanding Car...
Employee of the month Who knows if the health care bill passed by congress will improve health care. That remains to be seen. What is clear is that costs for everyone will not go down as promised. No one believes that. The vast majority of Americans already have fine health care, but is in many ways care that is needlessly expensive. A huge part of that needless expense is due to massive transfer payments...
An analysis of internal advertising agency documents in the United Kingdom has shown that advertising agencies working for cigarette companies behave as though they believe that advertising increases consumption. Internal agency documents occasionally voice concern that people might give up smoking and point to low tar cigarettes as an alternative to quitting. Moreover, the agencies realize that image...