Word: tobacco
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Dates: during 1980-1989
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...bravery of Ryan, John, Sutton and Nettles as each game they pray that the mind can still command the muscles, that cunning can compensate for crumbling coordination. Men in their 40s are not meant to be gladiators; they are designed to be potbellied third-base coaches spitting tobacco juice, and gray-haired managers storming out of the dugout...
When nothing else works, the intimidating presence of the 220-lb. Carrasco, a champion boxer in his college days, can make the difference. "He's a top sergeant, shouting 'This is your last chance! Without training, you're going nowhere!' " recalls Alumnus Carlos Porras, now a tobacco salesman who owns a house complete with swimming pool...
...bans cigarette ads in print as of Jan. 1 and banishes them from billboards by 1991. (As in the U.S., cigarette makers in Canada do not advertise on TV.) Beginning next year, every pack of cigarettes sold in Canada will contain a leaflet explaining the dangers of smoking. The tobacco industry fears that the Canadian legislation will inspire a similar crackdown by Congress...
Even if the Cipollone verdict stands and inspires similar cases, the cigarette industry is not about to start settling lawsuits out of court or to back out of the business. While the six major U.S. tobacco makers have diversified into products ranging from beer to biscuits, their profits from cigarettes are as robust as ever. The industry is expected to have operating earnings of $6.4 billion this year, up from $5.2 billion in 1986. The number of cigarettes smoked by Americans has steadily declined, from 640 billion in 1981 to 565 billion last year, but the companies have more than...
...Tobacco's profitability gives the industry large resources for fighting lawsuits. Estimates of what cigarette manufacturers have spent on defense in recent years range from $600 million to $3 billion. According to calculations by Marc Cohen, who follows the industry for the Sanford C. Bernstein investment firm, U.S. tobacco companies could lose 15,000 verdicts a year like Cipollone's and pay the total $6 billion in damages simply by raising the price of cigarettes 25 cents a pack -- even taking into account a 10% drop in business because of the price increase...