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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO)
MO 57.68-0.2%Dec 31 3:59 PM EST
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To: md1derful who wrote (1825)6/18/1998 8:40:00 AM
From: Rarebird  Read Replies (1) of 6439
 
" Would the next step be to somehow get back to the original agreement
with the attorney generals from last June? " Slick definitely got out slicked here by greater strategists and thinkers. The money was on the table; but Greed and Resentment held sway and they got Nothing. I think there is a lesson here for everyone to digest.
I'm not sure what the next step is. In retrospect, it's easy to say that the tobacco industry made a big mistake in negotiating the deal last year with the attorney generals. The only reson for negotiating was the liability protection, which the McCain bill had no interest in upholding.
I think the tobacco industry is better off without any settlement. Without the excise tax, they continue to have pricing power. The Minnesota settlement cost 4 cents a pack. They will hold their own in court, but the results will be mixed and inconclusive. The problem of an extremely hostile administration still remains for the time being.
Personally, I think Clinton may see again a strong backlash in the mid-term elections, as he did in 94. I think many people are fed up with this big brother, big interventionist government mentality. The key, long term, is if the Republicans can put forth a strong independent candidate who is conservative on economic issues but liberal on social issues in 2000. Gore would be worse for the tobacco industry than Clinton.
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