The nation’s top cigarette maker is moving quickly to strengthen its business in tobacco products such as snuff and cigars as cigarette volumes erode, the top executive for Altria Group Inc. told shareholders yesterday. “Since the shareholder meeting in May of last year, Altria has continued to transform itself as adult tobacco consumer preferences have evolved,” said Michael E. Szymanczyk, the company’s chairman and chie ... Jump to full article >>

However they satisfy their nicotine cravings, tobacco users are facing a big hit as the single largest federal tobacco tax increase ever takes effect tomorrow. Tobacco companies and public-health advocates, longtime foes in the nicotine battles, are trying to turn the situation to their advantage. The major cigarette makers raised prices a couple of weeks ago, partly to offset any drop in profits once the per-pack tax climbs from 39 cents to $1. ... Jump to full article >>