U.S. tobacco companies’ first quarter earnings are getting a boost from recent price increases but the year’s outlook remains mixed as domestic sales volumes shrink due to state laws banning indoor smoking and the graying of core customers.
On Thursday, Philip Morris International Inc., the world’s largest tobacco company by revenue, posted a 13% profit increase on higher prices and gains in Asian markets. Reynolds American In ... Jump to full article >>
High school students collected 1,087 cigarette butts in 45 minutes at Hunt Club Park Community Center, according to Vidal Anguiano, 18, a Zion-Benton High School student.
Anguiano is one of 26 members of REALITY Illinois, a Lake County chapter of a statewide teen prevention program. Anguiano and his fellow club members met with Gurnee Park District commissioners Monday to try to persuade the board to institute a tobacco-free policy.
“I’m ho ... Jump to full article >>
O’FALLON, Mo. — Just 15 days after voters passed a comprehensive smoking ban, opponents on Wednesday disclosed plans to gather signatures to spur another election on the issue.
A group called Repeal The Ban notified the city of its intention to petition for a referendum on the ban at a special election in November.
The ban – covering bars, restaurants and other indoor public places in St. Charles County’s largest city – ... Jump to full article >>
More violent criminal gangs and drug traffickers are turning to illegal smokes as a reliable moneymaker.
WASHINGTON – Cigarette smuggling is becoming big business for drug traffickers and violent criminal gangs, law enforcement officials and court records show.
Contributing to the increase has been the boost in state tobacco taxes across the country. The Mackinac Center for public policy found that 27 states have hiked cigarette taxes during ... Jump to full article >>
Attorney General Jack Conway announced Wednesday that Kentucky, as required under the 1998 Master Settlement Agreement (MSA) between the major tobacco manufacturers and 52 states and territories, received its annual payment of nearly $100 million in tobacco settlement money this week.
“The money Kentucky receives each year from the MSA provides funding for many invaluable programs -from agriculture to education,” Conway said. “ ... Jump to full article >>
Altria Group Inc. (MO – Analyst Report), the manufacturer and seller of cigarettes, wine and other tobacco products, reported results for the first quarter of fiscal 2011.
Virginia-based Altria posted adjusted earnings of 44 cents a share in the quarter, which was up 4.8% compared with the prior-year quarter and was in line with the Zacks Consensus Estimate. The quarter benefited from strong income across its tobacco businesses, lower ass ... Jump to full article >>
RICHMOND, Va. — Philip Morris USA said a federal judge on Monday rejected a request by a group of California plaintiffs seeking class certification in a medical monitoring lawsuit against the tobacco company, saying that there was no reliable way to identify the class members.
“This decision is absolutely consistent with existing law and the overwhelming majority of previous decisions denying class certification of smokers’ med ... Jump to full article >>
Mount Clemens— A judge Monday denied a Warren bar owner’s request to declare the state’s smoking ban unconstitutional but did toss out a fine the man incurred, agreeing some elements of the law are confusing.
Boyd Cottrell, owner of Sporty O’Toole’s, likens his Mound Road bar to a “small-scale casino” and has said the smoking law, which took effect May 1, is unfairly restricting his establishment, while gami ... Jump to full article >>
CHENNAI: The Cancer Institute (Women India Association) Chennai has urged Prime Minister Manmohan Singh to ban all tobacco-related products from being manufactured or sold in the country.
E Vidhubala, assistant professor and principal investigator, department of psycho-oncology and Tobacco Cessation Centre, Cancer Institute (WIA), Adyar told City Express that the regional directors of the cancer centres had written letters to Prime Minister Manm ... Jump to full article >>
So, the move to cigarette plain packaging will do nothing to reduce the rate of smoking, but it will be a pain in the proverbial for shopkeepers. I’m told this at least once an hour on talk radio, so it must be true.
But things aren’t always what they appear to be. I know this as a reformed tobacco executive. I was employed by Rothmans of Pall Mall from 1994 to 1998 in Queensland, NSW and Victoria in charge of about $250 million in a ... Jump to full article >>