Word: tobacco
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...YORK: Did you really think tobacco companies were going to foot the bill for that $206 billion payout to the states? Kings-of-smokes Philip Morris and RJR announced Monday that they would be raising cigarette prices by 45 cents a pack. The rest of the Big Five are expected to follow suit -- this despite analysts' calculations that the 25-year settlement could be paid for with increases of only 35 to 40 cents...
...endorsements now, but only those befitting the dignity of his office: "So far, the only one he's accepted is from Bob's Big Boy." He confessed that his naivete had left him unprepared for this year's events: "I used to think that being in bed with Big Tobacco had something to do with PAC contributions...
...costly habit may get costlier. A $206 billion agreement reached between the tobacco industry and state attorneys general, who had sued to recoup Medicaid costs, could lift the price of a cigarette pack by about 40[cents] over five years (vs. $1.10 under an earlier proposal). But perhaps your kids will save a bundle--if tobacco firms fulfill a pledge not to promote their products to young people...
...YORK: When it comes to fighting Big Tobacco, it's probably best to take the money and run. In a unanimous decision, 46 states (the remaining four have already reached individual agreements) have joined a $206 billion settlement with the Big Five cigarette makers, signing away their right to sue in exchange for educational and smoking-cessation programs, a ban on cartoon camels and other kid-friendly ads -- and, of course, the money...
...TIME Wall Street columnist Daniel Kadlec says it may not be over yet for tobacco companies -- as was the case last time, the federal government could still jump in and queer the deal with extra punishments -- but for the states, this one was a no-brainer. "My view has always been that the states should take the money and stop messing around. This is a public health issue -- the longer they fight in the courts, the more people are going to die in the meantime." And $206 billion in the hand is a whole lot better than waiting...