Word: tobacco
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Dates: during 1980-1989
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...always run by tradition, I would probably still be an accountant for the General Electric Co. In three years, we averaged earnings up nearly 70%. Nothing happened ((to the stock price)). Then we had Black Monday. Stocks went down. It really became evident that this business, especially the tobacco business, should be run as a private business. The shareholders, who are the people who invest in this thing, aren't making...
...There is risk. Less at $75 per share than at $100 per share. At $100 per share, I will have to sell off more businesses. But our tobacco business can stand a lot of leverage. It's the sheer size of this thing that makes everybody shake their heads. I've felt like an Iranian hostage for the past 43 days. You say, would you have done this if you had it to do over again? And my answer is yes. I can look every day into the mirror and say this was the right thing...
...Maybe Harvard will take down the ivy and grow tobacco, since that's a moreprofitable product," said Greg Connolly SPH '78,an analyst for the state Department of PublicHealth and the World Health Organization...
Connolly called on Harvard to support aproposed RJR shareholder resolution that wouldestablish an independent panel to declare smokinga health hazard, curtail the company's tobaccopromotion and advertising, and force RJR to getout of the tobacco business by the year...
Connolly said RJR's promotion of smoking incountries such as China is responsible for "anepidemic of unknown proportions from tobacco usethat has me, as a graduate of the Harvard Schoolof Public Health, appalled that Harvard Universitywould be [part-owner of] a tobacco plant inChina...