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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO)
MO 65.17+1.6%Feb 4 3:59 PM EST
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To: md1derful who wrote (3628)4/10/1999 8:19:00 AM
From: Theo Karantsalis  Read Replies (2) of 6439
 
OK, I'm back!

Forward from Dave to me:

Theo: I am not a subscriber to SI but some things you might want to
pass on. I called Director of Investor Relations Mr. Mike Kenney (phone #
917-663-3428) last week. He stated that MO is repurchasing between 200K and
700K shares daily...Mentioned that on the legal front he expected MO to take
a more aggressive approach..I got the impression, the possibility of being
more proactive (sue first and or counter sue)..stated that more passive
approach was advise provided from legal team in the past does not now appear
to be working as effectively....I asked him what the company was going to
enhance shareholder value and he stated that there were plans in work around
the fall time frame but he was not allowed to disclose also stated that the
company as a history of increasing dividends..(No details provided by
typically 10%)..I asked him if they were in talks with the feds to which he
stated NO.....I asked him why no insider buying...He stated that most of the
Execs have significant amount of net worth invested in company due to long
length of service thus no additional buying....He stated that most of his
counterparts were....Could not by law provide specific comments about on
going lawsuits but said he was a little concerned about Memphis case due to
the "bundling" of plaintiffs....Also called Steven Parrish VP Corporate
Affairs late last week...Believe it or not he returned by call and left a
voice message...I returned his call a few days later but he was on
travel....If any insight is provided, I will forward.
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