Word: morrises
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The U.S. Senate on Thursday struck the most devastating legislative blow in history to Big Tobacco, giving the Food and Drug Administration (FDA) authority over the industry. The new bill, which passed in the House in April, includes tough new restrictions on advertising like allowing only black-and-white text...
Another argument for buying local is that it enhances the "velocity" of money, or circulation speed, in the area. The idea is that if currency circulates more quickly, the money passes through more hands-and more people have had the benefit of the money and what it has purchased for...
The new study is a follow-up to a similar one conducted in 1995. For the new report, Boyd and his Harvard colleagues used a proprietary database called Osiris, which updates its financial data daily, to cull information on the major shareholders of tobacco-related equities. The researchers cite New...
Two other U.S.-based insurers, Northwestern Mutual and MassMutual, also question the study's data. The NEJM letter places Milwaukee-based Northwestern's tobacco-stock holdings at $235 million in Reynolds, Philip Morris and Lorillard, which produces Newport cigarettes. But spokeswoman Jean Towell says the insurer's investments are actually...
All the insurers in question also sell mutual funds and other retirement products alongside their insurance businesses. That means at least some of their exposure to tobacco stocks stems from client assets in index funds, such as those pegged to the S&P 500, which, of course, includes firms like...