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

To: Ian@SI who wrote (2040)	8/3/1998 11:06:00 AM
From: Geoff	Respond to of 6439

Interesting article. I thought that some of that cash was earmarked for paying off the settlement with the states. Was I mistaken? I know that MO et al only need to raise the prices of cigs to cover the settlement costs, but I thought they had to make payouts from cash reserves as well. Actually, now that I have stopped drinking since its Monday, I seem to recall that MO has taken charges to its quarterly earnings to reflect such payouts. Now am I correct, that MO has already begun to siphon of some $$$ from earnings? I'm sure glad I bought those DEC 55s now, and am keeping my fingers crossed. later, geoff

To: Ian@SI who wrote (2040)	8/3/1998 9:03:00 PM
From: Ian@SI	Read Replies (2) \| Respond to of 6439

Garzarelli named MO as one of her favourites on CNBC this afternoon. Hopefully, she won't jinx its recent progress. ;-) Philip Morris Companies Inc. (MO) After market close, Colorado Attorney General Gale Norton said she was hopeful states and tobacco companies would succeed in settling lawsuits against the industry, though some issues could still derail the negotiations. The talks are expected to resume in New York "sometime this week," she told reporters. "While I think we are coming close to an agreement on major issues, there are still some very difficult issues that may cause the entire negotiations to break down," Norton said. Norton said health issues were still the main focus of negotiations. (Reuters 04:41 PM ET 08/03/98)