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

To: Geoff who wrote (2391)	9/24/1998 2:52:00 PM
From: Ralph Bergmann	Read Replies (2) \| Respond to of 6439

Geoff, thank you for your response. I think it took you some time. However, what is very unclear to me is how far the settlement costs are already factored in for the analysts estimation of EPS 1999. In the Mc Cain bill a few months ago there was a limit of 8 Billion $ the companies should have to pay in a year (not considering the possible effect of tax hikes). I think somewhere around this number there will be the actual amount of money companies will have to pay on a yearly basis. We have the rough estimation that MO has to take about 60% of that. This would mean the yearly charge would be about 4.8 billion $ for MO. What would remain from their earnings under these conditions? Please show me in which point my way of thinking is wrong. Ralph