Philip Morris - A Stock For Wealth Or Poverty (MO) Message Board

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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO)

MO 58.88

-0.1%

11:23 AM EST

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To: Theo Karantsalis who wrote (5055)	11/5/1999 4:21:00 PM
From: don kramer	Read Replies (1) of 6439

Response to: The Case Against Philip Morris.byTom Byrne (11/5/99) msg 5055 He wrote >Little MO has $16 billion in total debt versus $15.9 billion in shareholders equity, a very scary ratio ! since when is debt serviced by shareholders equity ? He wrote>It has a liability for “Accrued Settlements” of $2.7 billion, a liability that will just keep growing because state after state is going to side in favor of smokers and against the tobacco companies. It's David vs. Goliath and we all know the outcome of that ttle donnybrook. My response... ? huh , say what? "keep growing" huh ? He wrote>4.4 billion in cash flow from operations in the first half of 1999. ...this is what keeps growing (btw...CDC reported that over the last 10 yrs...number of tobacco users have not change) that will not be enough to cover its debt payments and fund the reserves it needs to settle the lawsuit settlements it faces over the next ten years. ...again "say what" what spreadsheet model are you using to come to this conclusion ? ...show me the numbers ...back up that assertion ... don't present it has fact...! show me ! ...and I will show you mine.... I will let the others address this article on other topics which interest you... ...however...the rating agencies of MO as to debt servicing and the other quantitative and qualitative evaluations allow the rating agencies to issue MO bonds at investment quality... DK...

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