He is pro-business that is one reason for voting for Rossi.
fundamentalist Christian I don't think he is that way.
But being anti-business is one HUGE reason this state is in the condition it is in.
And politicians like Gregoire should be defeated.
1 - example
---------Hooked on Settlement Cash-------------
In 1996, Washington state Attorney General Christine Gregoire sued the country's biggest cigarette companies, eventually extracting hundreds of millions of dollars in settlement money for her state's citizens. "The tobacco industry has targeted our kids, withheld safer products and deliberately misled the public about the safety of smoking," Ms. Gregoire said at the time.
Her efforts, along with those of other state attorneys general, constituted the first large-scale, successful legal assault on the tobacco industry. Opening the door for a slew of additional litigation, the state suits changed the terms of the debate on the cigarette business, shattering the aura of invincibility that had surrounded tobacco companies.
Now, however, Ms. Gregoire and other state attorneys general may go to court to protect Philip Morris USA, the maker of Marlboro. At issue: an Illinois state judge's order that Philip Morris, owned by Altria Group Inc., post a $12 billion bond in order to appeal a massive defeat in a class-action lawsuit. Philip Morris USA suggested the bond requirement could force it into bankruptcy court. Until a recent image makeover, Altria was known as Philip Morris Cos.
Short-Term Solutions
Then, when the economy began to sour, many states chose short-term solutions, such as tapping the settlement payments and draining cash reserves, rather than realigning their budgets to reflect new economic realities. For the current fiscal year, which ends for most states on June 30, 21 of the 46 states that signed the main 1998 tobacco settlement agreement tapped that money to help close shortfalls. The previous year, 16 states relied on settlement money.
As of February, the collective deficit for the 50 states for fiscal year 2003 was $27 billion, according to data supplied by the National Conference of State Legislatures, which is based in Denver. Next year, the states are looking at even bigger deficits. Most states, unlike the federal government, are required by law to balance their books at the end of their one- or two-year budget cycles. This forces them to cut spending, raise taxes, or both.
That's why state officials across the country are watching the situation in Illinois so closely. Philip Morris's general counsel, Denise Keane, last week sent a letter to Ms. Gregoire, the Washington state attorney general, saying that the company was "not financially able to post the enormous bond that the Madison County court has demanded" and warning that "it is presently uncertain" whether Philip Morris would be able to make its $2.5 billion payment to the states.
Illinois Attorney General Lisa Madigan said she will take Philip Morris to court if it doesn't make the payment.
Altria has long prided itself on its high credit rating, so it was particularly striking Monday when Moody's Investors Service cut Altria's rating by two notches, to just three levels above "junk."
Illinois lawmakers are now considering legislation that would limit the amount of money Philip Morris must put up as a bond in order to appeal. Representatives of Philip Morris and the states' outside trial lawyers met Tuesday in Chicago under the auspices of the speaker of the Illinois House of Representatives to try to cut a deal.
Philip Morris wants the cap set at $100 million. The trial lawyers were looking for a cap of between $500 million and $1 billion. State Rep. Robert S. Molaro, a Chicago Democrat, said Tuesday that once the parties agreed on a figure, lawmakers would move forward with a bill.
Public-health groups say they oppose any legislation that would protect Philip Morris. "We don't think the Illinois legislature ought to pass a bill to help one company, especially a company that's been found to have injured more than one million citizens of the state," said Matthew L. Myers, president of the Campaign for Tobacco-Free Kids.
Mr. Myers said that Altria, which isn't a defendant in the Illinois case and thus isn't technically liable, could pay the bond for Philip Morris. Altria has an $8 billion credit line and pays about $5 billion in dividends each year. "Philip Morris wants the court to relieve it of any obligation to make any sacrifice," Mr. Myers said.
Altria responded to this assertion by pointing to a filing it made last week with the Securities and Exchange Commission in which it said Philip Morris can't post a $12 billion bond.
The Illinois share of the Philip Morris payment due April 15 is $150 million, according to former Illinois Gov. Jim Thompson, who is now lobbying for the company. Most of that money is earmarked for health-care programs for the elderly, Mr. Thompson said.
"We're very concerned that the amount of the appeal bond will adversely affect budgets in 46 states," said W.A. Drew Edmondson, attorney general of Oklahoma. There is "no benefit to public health by putting Philip Morris in the financial position" of having to declare bankruptcy, he added. "They're going to sell just as many cigarettes even if they're in receivership."
reclaimdemocracy.org |
