Word: profitable
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Dates: during 1990-1999
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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...
While he said he cannot be certain until the fiscal year is over, General Manager of the Coop Allan E. Powell said "we expect this year to earn a profit...
Generally when the Coop has turned a profit, it has given its members a rebate. If this happens, it would be the first time in four years...
Gray's latest foray into the for-profit world is his new Mars & Venus Counseling Centers, in which therapists pay $2,500 for training in the Mars & Venus "technique," an initial licensing fee of $1,900 for the right to hang out a shingle (and use the logo) as a Mars & Venus counselor, and then a $300-a-month "royalty" payment. Gray says he has acquired his special love insights after years of counseling couples and hearing anecdotes from his fans at book signings and lectures. But he is not a licensed anything other than driver, to which some mental...