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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO)
MO 58.17+1.5%12:53 PM EST
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To: RWilson who wrote (1423)4/17/1998 9:39:00 AM
From: Rarebird  Read Replies (1) of 6439
 
I think it's obvious that the industry does realize they made a " strategic blunder ". Will they fight fire with fire, as you would like? That's the Question. If they win in Minnesota, or the pay out is much less than expected ( a win also ) then strategy changes on both sides too- although a backlash in the form of excise taxes could be in the offering.
Either way, I think MO is just beginning an IBM style cost cutting scheme where the domestic tobacco work force will be greatly reduced. Once the smoke clears here I think the Market will focus on that very favorably. As for consolidation and M@A activity, I don't think the Clinton Administration would approve it, unless it became part of the settlement. Then there is the Courts!
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