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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO) -- Ignore unavailable to you. Want to Upgrade?

To: Xianming Liu who wrote (6270)	7/31/2001 10:43:24 AM
From: md1derful	Respond to of 6439

X: Thanks for the articles from LA times..interesting read..not too sure what exactly caused the drop...it was on light volume and I suspect there was some concerted selling by a fund or two for whatever reason.....short of market anti-mo hysteria, I can't see any logical reason for any more decline based on fundamentals or any sound reasoning...interesting that the state of Florida has seen fit to invest its pension funds back into MO...very smart...sue 'em and then join 'em....see ya doc

To: Xianming Liu who wrote (6270)	8/7/2001 12:33:07 PM
From: md1derful	Read Replies (1) \| Respond to of 6439

X: Here is the next big problem for big tob.: "Mark McMinimy -- Tobacco: As Expected, EU Countries Move to Refile Smuggling/Racketeering Claims A story in today's Wall Street Journal affirms our view that following the dismissal by a federal judge of a smuggling/racketeering case brought by the EU Commission against Philip Morris (MO 45)² and R.J. Reynolds (RJR 52) on the grounds that the Commission lacked standing because it had not suffered any injury, individual member countries of the EU would refile essentially the same case on their own behalf. We said the dismissal was more bad news than good for the industry because the federal judge rejected the industry's key argument that the Revenue Rule prevents U.S. courts from hearing this case and others like it, such as Canada's. The judge's reasoning will certainly be taken into account by a three-judge panel at the federal appeals court of the Second Circuit, which is considering whether or not the Revenue Rule prevents Canada from pursuing a similar claim against RJR in federal court. This upcoming decision will be pivotal in determine whether cigarette makers are exposed to an untested and potentially threatening new front in the litigation wars. We believe Canada has a better than 50 percent chance of prevailing. A ruling is likely before the year is out." We'll have to keep an eye on this doc