Word: tobacco
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Dates: during 1980-1989
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...federal and state taxes, the recession and America's rising health-consciousness, have taken their toll. Consumption was down half a percent last year, dropping from 627 billion cigarettes in 1981 to 624 billion last year. John Maxwell of Lehman Brothers Kuhn Loeb, Wall Street's leading tobacco-industry analyst, believes that cigarette sales dipped an additional 3% to 6% during this year's first quarter...
Perhaps the most important cause of the recent drop was the doubling, to 16? per pack, of the federal cigarette tax on Jan. 1. In addition, many states-14 since 1982-are pushing up their levies on smokes. Says Reynolds Tobacco Chairman Edward A. Horrigan Jr.: "The excise tax, coupled with state tax increases, caused a dramatic drop in sales during the first quarter of the year." Wisconsin has the dubious honor of having the highest state cigarette tax: 25? a pack, making total taxes on a pack 41?. Those increases helped push up the price of a standard pack...
...instantly. The Sandinistas had been harassing the road for nearly a month with machine-gun, mortar and grenade fire, killing at least five people in previous incidents. The firing was part of a campaign to secure the hills around Jalapa, a strategically located town of 10,000 in the tobacco-growing area of northern Nicaragua...
...twice as many as in 1980, and their numbers are growing fast. Most are small family operations such as Yakima River Winery, Neuharth Winery and Leonetti Cellars, all of which have won awards in the past two years. The biggest by far is Chateau Ste. Michelle, owned by U.S. Tobacco Co., whose three wineries produced 1.25 million gal. last year; it plans to expand to 2.5 million gal. by 1987. By comparison, the Napa Valley's long-established Beaulieu Vineyards makes less than 1 million gal. a year...
Although Royal Crown discovered the marketing potential of decaffeinated soft drinks, Philip Morris (1982 sales: $11.7 billion) turned caffeine-free soda into a national craze. After acquiring Seven-Up Co. in 1978, the tobacco and beer firm initially had little luck. Ad campaigns proclaiming that "America is turning 7Up!" could not keep the lemon-lime drink from falling behind Dr Pepper in market share. But last year Philip Morris seized on rising public fears about caffeine and proclaimed that 7Up "Never had it. Never will." The company also launched Like, the second decaffeinated cola after Royal Crown. Recalls Seven...