Word: rjr
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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...
...dicey game of timing it may seem. For example, you can guard against missing a quick recovery by buying another depressed stock in the same industry. Sell Halliburton, down 41%, to lock in the tax benefits; then buy rival Schlumberger, down about 30%. Likewise, swap Philip Morris for RJR, AMR for Northwest, Caterpillar for Deere...
...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...