Word: philipe
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Dates: during 1990-1999
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...Philip Elmer-DeWitt
...executive producer and co-writer of the 1994 Showtime film Roswell, I believe you are wrong to be dismissive of Philip J. Corso's book The Day After Roswell. It is the most important breakthrough on UFOs in a half-century. Here is an author who served as part of President Eisenhower's National Security Council, has 19 medals and has let the genie out of the bottle on the UFO cover-up. Corso gives the best justification for secrecy about the Roswell Incident ever offered...
Managing a company in that kind of flux could make even a nonsmoker reach for a butt. You can assume, though, that Big Tobacco thinks business will be better, or it wouldn't have come this far. Profit margins on cigarettes are now about 34%. Last year Philip Morris had an operating profit of $4.2 billion on domestic cigarette sales of $12.5 billion. Unquestionably, tobacco is a cash crop that can cover the settlement tab and still reward stockholders. And with advertising and legal outlays likely to be scaled back, the industry can recover some of its costs immediately...
...least that's what investors seem to think. Tobacco stocks fell Friday, the day of the deal. But it was mere profit taking after a two-week run-up in which shares of Philip Morris, the No. 1 tobacco company, jumped 9%, reaching a new high on Thursday, while No. 2 RJR rose 14%. Tobacco stocks have sold at a discount, compared with other packaged-goods company shares, because of the legal uncertainties. Many analysts expect the stocks to keep on chugging once Wall Street can reliably calculate the settlement costs. "As uncertainty is removed, the stocks move up," says...
...number of smokers declines in the U.S., however, look for a market-share duel to the death. When cigarette advertising on TV and radio was barred in the early 1970s, RJR's Winston was the household name in cigarettes. Philip Morris adapted better to print, though, and boosted its Marlboro brand to prominence. RJR needs to regain some ground, but it won't be easy. "We'll all be jockeying for position in Playboy and Penthouse," an RJR insider quips. Adult magazines are among the few places the tobacco companies would continue to advertise...