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

To: RWilson who wrote (1385)	4/14/1998 11:31:00 PM
From: Rarebird	Respond to of 6439

" Some Legislation will occur ". That is your perception. The Reality may be quite different. I can see, as in the case of health care reform in 93, that once the different committees in the House starts working on its versions of tobacco legislation that we will have so many different proposals on the table with no clear consensus to push any bill through. I see a lot of discussion and bickering with nothing getting accomplished, which is typical of the way business is done in Washington. This is exactly what happened with health care reform in 93. Conclusion: The socks under siege rallied sharpely and have since quadrupled! Such a scenario is quite possible with MO. Domestic Tobacco: EPS: up 12.3% from 96. ( excluding charges ). International Tobacco: EPS: up 12.6% from 96. Domestic Food: EPS: up 12% from 96. International Food: EPS: down 1.1% ( due to adverse currency movements and the rising price of coffee which resulted in lower coffee volume). Beer: EPS: up 4.5% from 96. International Tobacco Growth: The future looks real bright. MO acquired Tabaqueria in Portugal, increased their interest in the Mexican Market and recently invested 300 million in the Russian Market. I see growth expanding here. Domestic Tobacco: Here I agree with you: It will be difficult to determine the growth rate going forward. But if Canada can serve as an example here, it is safe to say that the Domestic tobacco business will continue to grow steadily in spite of the possible $1.00 increase in the pack of cigarettes. What may also increase is petty crime, as some may have to resort to such measures to fund their tobacco habit. Try not to get caught up in the hysteria and insane politics of the present. Big MO has still got the upper hand ( and the cash )in relation to Uncle Sam. You ain't seen nothing yet!