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

To: sea_biscuit who wrote (1966)	7/23/1998 8:37:00 AM
From: Geoff	Respond to of 6439

News Flash! Woody Wilner has delayed four suits against our beloved, and beseiged, MO scheduled for October until next year. I would post the entire article, but it would take too long to type. He has not given reason for the delay, the article states that, "Wilner plans to focus on his appeal to the Florida Supreme Court of the recent decision by a state appeals court to overturn a $750,000 award against Brown & Williamson Tobacco Corp. to smoker Grady Carter," said analyst Martin Feldman of Salomon Smith Barney. Here are some other tidbits: A settlement of state cases would leave only two kinds of tobacco litigation: class-action and individual smoker suits such as those filed by Wilner. The industry has succeeded against both kinds. "A substantial portion of the industry's litigation will be eliminated in the next few months if the industry succeeds in reaching a multistate settlement," said Credit Suisse First Boston Inc. analyst Bonnie Zoller. "We would anticipate a modest improvement in tobacco valuations" with the threat of Wilner's lawsuits delayed, said Feldman. "At the earliest, Wilner's next individual case may be brought in February 1999." I wonder if this news helped push the stock up yesterday? I did not see the story until this morning, and it was published at 6:50pm EST. Hang on for the ride! Choo Choo Baby! Wow, it feels good to say that again. geoff