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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO)
MO 58.05-0.6%Dec 19 3:59 PM EST
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To: Jim Oravetz who wrote (6284)9/5/2001 9:26:01 AM
From: md1derful  Read Replies (1) of 6439
 
Some more goings-on in congress this week:

"Mark McMinimy – Tobacco: The Senate Judiciary Committee has scheduled a hearing for this afternoon
to examine the Justice Department’s civil racketeering lawsuit against domestic cigarette makers.
Sources tell us that witnesses are likely to include the following persons:
· Attorney General John Ashcroft, or his deputy
· Prof. Robert Blakey of Notre Dame University, the "father" of the racketeering statute
· Prof. Jonathan Turley, The George Washington University, an expert on constitutional law
The newly-installed committee chairman, Democrat Patrick Leahy of Vermont, probably wants to
underscore for Ashcroft the importance of this litigation to the panel’s new majority of Democrats and to
chide the new administration for its lack of enthusiasm in pursuing the effort so far.
After expressing concern a few months ago that the government’s case was weak, Ashcroft proposed that
Justice Department lawyers and cigarette makers convene talks to settle the complaint out of court. By all
reports, those talks have not been fruitful and Ashcroft may hint today that Justice Department lawyers are
on the verge of ramping up the effort in view of the lack of success in discussions with cigarette makers so
far.
We continue to believe this lawsuit no longer enjoys the political support that it had under the previous
administration. As such, in practical terms, the threat it poses has also diminished substantially. A trial, even
in the event that it would come to that, would not occur before mid-2003, so a lot of time remains to find a
way to dispose of this matter."
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