Posts tagged: business

Raiding more trust funds horrible idea by state

Tweet Republicans in the North Carolina House of Representatives are taking aim at three trust funds set up to disperse half of North Carolina’s share of the national tobacco settlement, all in the name of balancing the state budget. The money flowing into the state from this settlement is part of the agreement the major tobacco companies made with states suing those firms, under which those companies promise to pay hundreds upon hundreds of mi ... Jump to full article >>

Cigarette maker Lorillard 1Q profit rises

Tweet Cigarette maker Lorillard says its net income increased 7 percent in the first quarter as it sold more Newport and Maverick cigarettes at higher prices. Lorillard says it earned $248 million, or $1.71 per share, for the period ended March 31. That’s up from $232 million, or $1.50 per share, a year ago. The per-share figure was boosted by a lower number of shares outstanding. The nation’s third-biggest tobacco company says revenu ... Jump to full article >>

County campaigns against secondhand smoke

Tweet An estimated 4,000 people each year in California die from secondhand smoke, according to Santa Clara County Department of Public Health officials, who kicked off an ad campaign Tuesday to warn people about the dangers of secondhand smoke. The campaign was announced at a news conference April 26 with county Supervisor Ken Yeager and Campbell Mayor Jason Baker, who said that as a father of two kids, he is especially concerned about the impac ... Jump to full article >>

Legal move on Frankston smoking ban

Tweet A FRANKSTON trader is urging other angry shop owners to join him in a legal class action against Frankston Council over its smoking ban – which has become permanent in the trial zone and may be greatly extended. Glen Cooper, of Cooper’s Patisserie in Shannon Street Mall, told the Weekly that he and neighbouring coffee shop and juice bar proprietors have suffered substantial loss of trade since the council introduced its smoke-fr ... Jump to full article >>

Tobacco Net Gets Price Kick

Tweet 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 Americ ... Jump to full article >>

Altria Reports In Line

Tweet 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, lowe ... Jump to full article >>

VGA Opposes taxes that hurt businesses

Tweet On April 15th, the very day many Vermonters’ are trying to pay their end of year tax obligations, the Vermont Senate Finance Committee voted to increase the cigarette tax by $1.00 per pack, making Vermont more than $20.00 carton higher than New Hampshire. Here’s why we oppose this tax increase: The Importance of Buying Local Stemming the Loss of Retail Business Across Vermont’s Borders There has been significant focus across Vermont i ... Jump to full article >>

Heated debate over proposed N.H. tobacco tax cut

Tweet Call it a duel between tobacco tax studies. During a floor debate in the Legislature last month on lowering the New Hampshire tobacco tax, Rep. Patrick Abrami, R-Stratham, said the move was necessary to help small businesses rebound and strengthen a competitive advantage in lower cigarette taxes with neighbor states. “We have reached the tipping point,” Abrami said about the sizeable increase in tobacco taxes that had taken plac ... Jump to full article >>

Tobacco Retailers Say Macon Going ‘Smoke Free’ Would Risk Local Jobs, Businesses

Tweet Two Georgia-based associations of premium tobacco retailers have warned the Macon City Council that the ordinance it is considering to restrict smoking in most indoor public places would be putting local jobs and small businesses at risk for no reason. Two Georgia-based associations of premium tobacco retailers have warned the Macon City Council that the ordinance it is considering to restrict smoking in most indoor public places would be ... Jump to full article >>

Ohio Supreme Court to weigh ban on smoking

Tweet COLUMBUS — The question of whether smokers can light up in bars, restaurants, and other public places has worked its way up to Ohio’s highest court. The Supreme Court Wednesday agreed to hear an appeal of November’s 10th District Court of Appeals ruling that upheld enforcement of the voter-approved ban on indoor public smoking against a challenge brought by a Columbus bar that had racked up $30,000 in fines for repeat viol ... Jump to full article >>