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

To: Thomas Haegin who wrote (1992)	7/25/1998 9:26:00 AM
From: Xpiderman	Respond to of 6439

Judge Voids Indiana Suit Against Tobacco Firms From Washington Post news services Saturday, July 25, 1998; Page A05 An Indiana judge yesterday dismissed that state's lawsuit against the tobacco industry seeking to recover the costs of treating sick smokers, after another judge in Washington ruled that state's case could go forward. In Indiana, Marion County Superior Court Judge Gerald Zore dismissed the suit filed by Attorney General Jeff Modisett in a two-page order. He ruled that the state's harm was too remote from the companies' alleged fraud in concealing the dangers of smoking. The ruling marks the first of 41 such claims to be completely struck down. The ruling won't derail negotiations between the industry and the states to settle all their Medicaid lawsuits for roughly $196 billion from the industry over 25 years, analysts said. Four states have settled their cases with the industry for more than $36 billion. Philip Morris Cos., RJR Nabisco Holdings Corp. and other cigarette makers and state attorneys general will resume talks next week on a proposed settlement to end the industry's biggest litigation threat. "It confirms our position that the suits brought by attorneys general to recoup their states' Medicaid costs are simply without legal or factual merit and should never have been filed," said Thomas McKim, assistant general counsel of RJR's R.J. Reynolds Tobacco unit. The order surprised Modisett's office, which promised to appeal the Indianapolis ruling. In Washington state, King County Superior Court Judge George Finkle on Thursday rejected requests from the cigarette makers to extinguish several of the state's claims. Washington's case had been in trouble because Finkle previously had thrown out many of its claims. That left the state not only weak in court but also at the settlement table. Finkle did toss out one claim: that the companies had violated a consumer protection law through deceptive advertising. But the remaining elements of the case will proceed toward trial scheduled for Sept. 14.

To: Thomas Haegin who wrote (1992)	7/25/1998 9:28:00 AM
From: Rarebird	Read Replies (2) \| Respond to of 6439

Thomas, the Indiana Ruling puts immense pressure on the Attorney Generals to settle. The AG'S are meeting on Tuesday to discuss a comprehensive settlement with the tobacco industry. A settlement looks good, IMHO, by the end of the summer. Then, shortly afterwards a resumption of the repurchase of shares, a dividend increase and the Big Brokerages upgrading MO from accumulate to Strong BUY. PS. I spoke to the person at the Mcdonalds in my neighborhood who is in charge of ordering all the food supplies. She told me that she orders all their American Cheese from KRAFT. This Mcdonalds was not a franchised restaurant. One of my clients who is a franchiser of two Mcdonalds restaurants in Brooklyn told me that he orders all his American Cheese from Kraft too. He said they were the best and most reliable. According to him, they are never late on a delivery.