Word: tobacco
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Dates: during 1960-1969
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Kintner's announcement ended a long struggle by the FTC to clarify the benefit of filters for the baffled smoker. An FTC request in 1952 for an injunction to stop health-claim tobacco advertisements was blocked when the U.S. District Court ruled that cigarettes are not a "drug." Later the FTC suggested certain guide lines to assist the companies in documenting their claims, but let them use their own testing laboratories until the commission was able to develop a standard tar-and-nicotine test. The FTC never was able to establish a standard amid the welter of laboratory tests...
Last fall the commission decided the time had come to persuade the tobacco companies to agree to their own ceasefire. For one thing, filter pitches were losing their appeal because conflicting claims were nullifying one another. And there was the example of Winston, consistently the bestselling filter, which had never used the health puff. One of the early entrants in the low-tar derby, Kent switched its main theme to "filters best for the flavor you like...
What really brought on the new ground rules was an aggressive campaign introducing the new filter brand Life last fall, which resulted in a formal FTC complaint against Brown & Williamson Tobacco Corp. for false filter advertising claims. The Life ads convinced the FTC something had to be done for the industry as a whole, and the formal complaint convinced the cigarette makers that it would be prudent to agree to end the filter derby. Said Kintner gratefully, noting that cigarette advertisers spend $190 million a year: "It is no small feat for them to change the major emphasis...
...that followed, oil companies paid millions of dollars for choice concessions. Providing services and equipment to the oil industry made a thin upper crust gorgeously rich, but scarcely benefited such middle-class families as the Betancourts. Rómulo went to work as a bill collector for a wholesale tobacco firm, played sand-lot soccer (right forward), entered the law school of Caracas' Central University...
...after company raised dividends. International Business Machines hiked its quarterly dividend on common stock from 60? to 75?. Swift & Co., the nation's largest meat packer, declared a special dividend of 25? a share in addition to its regular quarterly dividend of 40? a share. Directors of American Tobacco Co. voted an extra dividend of $1 on top of its regular $1 quarterly dividend. American News Co. raised its quarterly dividend from 40? to 50? a share, Johnson & Johnson from 20? to 25?, Associated Dry Goods Corp. from 55? to 62½?. McDonnell Aircraft announced plans to split...