Word: rjr
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...CCSR voted to ask Philip MorrisCompanies, Inc. and RJR-Nabisco--both tobaccomanufacturers--to provide information about theiradvertising practices in developing countries,according to Gray...
...tobacco issues were pulled because the SEC[Securities and Exchange Commission] ruled thatthe wording [on the Philip Morris resolution] wasillegal and RJR went private," Gray said...
...been mailing out videocassettes containing commercials for its Now brand of cigarettes. The company says all the tapes ; were sent to smokers who favor Carlton, a competing brand, in an effort to win them over. But Matthew Myers, staff director of the Coalition on Smoking or Health, contends that RJR's "video loophole" could be used to circumvent Congress's original goal of shielding youngsters from tobacco ads. While the RJR tape is aimed at adults, Myers fears that such ads could creep into videocassettes of teen movies...
...corporations through stock-repurchase programs, mergers, leveraged buyouts or employee-stock- ownership plans. All told, such buybacks have reduced the supply of shares on the market by a record $94 billion during the first half of the year, or nearly 4% of all outstanding stock. The buyout of RJR Nabisco alone took $25 billion worth of stock off the market, while the acquisition of Warner Communications by Time Inc. will reduce supply by another $14 billion...
LBOs invariably lose money at first because heavy debt charges soak up their earnings. RJR Nabisco, which went private last December in a record $25 billion buyout, last week reported a staggering $309 million loss for the second quarter. Reason: $1.05 billion in interest and debt expenses. In announcing the loss, RJR Nabisco said its basic food and tobacco operations, which include Nabisco cookies and Winston cigarettes, performed strongly; the company added that its program to sell assets was ahead of schedule. RJR Nabisco has already sold more than $2.5 billion of businesses, including most of its European food operations...