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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Demetre Deliyanakis who wrote (16508)	2/26/2003 7:22:00 AM
From: Larry S.	Read Replies (1) \| Respond to of 78494

There is a more serious challenge to MO than the legality of cigarettes. They have lost their pricing power. Governments are stupidly raising tobacco taxes at an absurd rate, trying to compensate for falling revenues in other areas. With a pack of smokes now costing between $5 and $7 in many areas, smokers are either cutting down, quitting, or, more likely, buying cheaper brands. This seems to be a irreversible process right now. I've never seen taxes REDUCED. larry