Word: rjr
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Dates: during 1990-1999
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...from their high point, but from their average price, a proxy for the price most people paid for the stock over that period. On the list are plenty of big, widely held companies, including oil-services giant Halliburton, tractor company Deere, Northwest Airlines and food-and-tobacco conglomerate RJR Nabisco...
...tobacco companies from the negotiations, Moore and the other AGs found themselves serving as reluctant surrogates. The AGs feared that the hike was a backbreaker that would cause R.J. Reynolds, the most vulnerable of the Big Five, to pull out. But McCain was able to reassure them that RJR could handle the costs...
...Although not unexpected (RJR was making loud pullout noises late last week), the move was bold nonetheless; this was (don't laugh) Big Tobacco's bid for sympathy. "Tobacco feels betrayed by the Senate on this deal," says TIME Washington correspondent Bruce Van Voorst. "Senators aren't returning their calls, and the legislation is draconian compared to their deal with the states...
...Senate is serious about saving children's lives, it will want to start right away. "Politically, there is a sense of urgency," says Van Voorst. "And to get this done in the near future, without long court battles, they'll need Big Tobacco to sign on." That's what RJR is betting...
...this one," says TIME Washington correspondent Bruce Van Voorst. "The Senate has been thumbing its nose at the industry all week." McCain was unworried Thursday -- his concern right now is to get the bill through Congress -- but as Van Voorst says, "Tobacco is not without cards in this game." RJR is prepared to fight any restrictions on industry advertising in the courts as a First Amendment violation -- and experts say they more than have a case...