Word: tobacco
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Dates: during 1980-1989
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...company had hailed its product as the "most significant breakthrough in cigarette history." But after seven years of development at an estimated cost of more than $300 million and five months of test marketing, R.J. Reynolds Tobacco last week scrapped its Premier cigarette. Billed as a "cleaner smoke," Premier heated its tobacco instead of burning it. But the product tasted and smelled awful to most consumers...
...would be $100 million dollars. Already 70% of the pilot's ad time has been sold, with the rest likely to be gone by next month. While Whittle will not release sponsors' names, product categories include sneakers, food and toiletries. Whittle pledges there will be no ads for alcohol, tobacco or contraceptives...
...Peterson said this week, "you won't see the tobacco issue" anymore because there are no proxy resolutions in private companies...
...whether Harvard is a partner or a stockholder in the new RJR-Nabisco, the private investment will have a different nature than the public stock the University once held in the tobacco company, Peterson explained...
Proxy votes for RJR-Nabisco and Philip Morris Companies, Inc., another tobacco manufacturer in which Harvard owns stock, are scheduled to take place this spring, Gray said. According to Harvard's finance report for last year, the University held more than $27 million in Philip Morris stock. At that time, Philip Morris was Harvard's third-largest public stock investment...