Word: pretax
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...addictive depended very much on where in the morass of tobacco litigation you currently sat. States Attorneys General pointed to the fact that the North Carolina-based maker of Chesterfield, Lark and L&M cigarettes agreed to up-front payments of about $25 million, plus 2.5 percent of its pretax profits over the next 25 years, as evidence that tobacco companies are in some way responsible for the health-care costs states are suing to recover. And the fact that Liggett will turn over hundreds of thousands of insider documents that states hope will prove severely damaging to the tobacco...
...figure down to $3 billion or less. But even at the higher figure, "it's not a lot of money" under certain scenarios, notes Roy Burry, an analyst at Oppenheimer & Co. No industry has greater pricing flexibility, and every nickel-a-pack increase generates $1 billion in annual pretax tobacco earnings. If the industry is worried about gouging customers, shoot, just issue more stock. Wall Street would pay through the nose for a liability-free Philip Morris...
...hefty $1.5 billion in earnings poured in after the budget impasse allowed a 10% sales tax on ticket prices to lapse on Jan. 1. Instead of passing on this tax break to travelers, carriers pocketed the money. This silent fare boost accounted for nearly half the increase in pretax profits that the eight largest airlines reported for the first six months, according to analyst Brian Harris of Lehman Brothers. The tax, which goes to the Aviation Trust Fund to improve airport safety and security, is expected to be reinstated this month. That leaves airlines with the choice of raising ticket...
...sales. Consumer Reports has grumbled about reliability problems on the 1995 Jeep Grand Cherokee and the Dodge Intrepid. And competition is getting tougher in the minivan, pickup and sport-utility fields that made Chrysler's revamped reputation. Though Eaton could still defend the numbers as "the second best pretax earnings we've ever had," that hasn't been enough to stop his company's shares from losing more than 20% of their value between January and mid-April...
...popular than cutting $500 in taxes for every child born to a family earning $200,000 and under? Democrats dismissed the amount as trivial-enough to buy, maybe, a pizza a week. Yet for a family of four earning $40,000, the tax credit would be like a 3.5% pretax raise-more than many of them have been getting from employers...