Word: philipe
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...criminal cult called the Mungiki has replaced the government in many slums, providing water, housing and dispute-settlement along with drugs, prostitutes and protection. The police, endemically corrupt, fight the Mungiki for turf, and have executed nearly 500 in the last few years, according to a February report by Philip Alston, U.N. rapporteur on extrajudicial, summary and arbitrary executions. Days after his report was released, the police were accused of the murders of two human rights activists who assisted Alston's research; they were shot dead as they sat in traffic during Nairobi's evening rush hour...
...letter to the New England Journal of Medicine (NEJM), suggest that several life and disability insurers, both in the U.S. and abroad, have yet to acquiesce to calls from the American Medical Association and others to divest their holdings in companies such as Reynolds American, Lorillard and Philip Morris. Many insurers cited in the letter say the study wildly overstates their investments, but the authors disagree. "Insurers continue to put their profits above people's health," said Dr. J. Wesley Boyd, the lead author of the report. "It's clear their top priority is making money, not safeguarding people...
...major shareholders of tobacco-related equities. The researchers cite New Jersey-based insurer Prudential Financial as a typical example of what they discovered. Prudential, which sells both life and long-term-disability insurance, owned about $264 million in the stocks of Reynolds American, which makes Camel cigarettes, and Philip Morris International, which manufactures the Marlboro brand. (Watch TIME's video "Au Revoir Cigarettes...
...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 one-tenth that figure, less than $24 million...
...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 Philip Morris and Lorillard. Many of the insurers contacted by TIME declined to outline the specifics of their investment portfolios, but a Prudential spokesman, Darrell Oliver, noted that as a policy, Prudential does not invest in tobacco stocks for its own portfolios: "Some Prudential entities hold tobacco stocks. Those stocks are primarily...