Word: nabisco
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...area where an investor can jump in," says Alan Ackerman, a market strategist at Fahnestock & Co. While stock prices of the big tobacco firms used to rebound quickly after bad news, August has been the long goodbye. Philip Morris plunged from $104.66 a share to $88, and RJR Nabisco from $30.75 to $25.50. Loews Corp., parent of Lorillard Tobacco, slipped from $80.66 to $74.75. "This has all the makings of a tobacco Chernobyl," says Ackerman. Not if you ask the accountants. Overall, profits and sales in the industry are up this year, and sales abroad are strong...
PAUL SIMON (D., Ill.), above right --Baltimore Orioles tickets --Food samples from Nabisco...
...profits hit $1.13 billion, up from $617 million in 1991. The company has added some 9,000 jobs since it reorganized, bringing its payroll to 35,000. Sales have been rising 10% to 11% a year, while other big food companies, such as Campbell Soup and Nabisco, have eked out gains of no more than...
...result, tobacco interests have flooded the G.O.P. with campaign funds. The two largest givers of soft money to the Republicans are the two largest tobacco companies, Philip Morris and RJR Nabisco. All told, tobacco companies ponied up a record $4.1 million in 1995, 78% to Republicans, according to Common Cause. No longer able to argue that smoking is not unhealthy, the industry relies on ideology: Republican laissez-faire offers the best hope for its survival...
What the other cigarette companies do is of little interest to LeBow, a takeover artist who has set his sights on R.J.R. Nabisco. "He's in it to make money,'' says Richard Scruggs, one of whistle-blower Jeffrey Wigand's lawyers, who is helping on the Mississippi Medicaid suit. "This is a very sophisticated business transaction by Bennett LeBow." If LeBow can force a merger between Liggett and R.J.R., then R.J.R. will participate in the settlement, moving out from under the shadow of incessant litigation, boosting its stock price and enabling LeBow to split the company's food and tobacco...