RICHMOND, Va. — Tobacco maker Lorillard Inc. reports its third-quarter results on Monday. The following is a summary of key developments and analyst opinion related to the period.
OVERVIEW: The oldest continuously operating U.S. tobacco company and maker of Newport menthol cigarettes, based in Greensboro, N.C., said in July that it was selling more cigarettes even after it raised prices and a federal tax increase went into effect April 1.
Cigarette volumes at Lorillard, whose brands also include Kent, True, Maverick, Old Gold and Max, increased 2.1 percent for the second quarter, when the company estimated volumes fell 4.1 percent across the industry.
It is the fourth major tobacco company to report on its earnings this month. Altria Group Inc. — owner of the nation's biggest cigarette maker, Philip Morris USA, which makes Marlboros — said cost-cutting and higher cigar sales helped its third-quarter profit rise 1.7 percent, even though it sold fewer cigarettes. Altria said its overall cigarette volume fell 12 percent for the quarter, and it estimated a 10 percent drop industrywide.
Reynolds American Inc. — the second-biggest cigarette seller in the U.S. and maker of Camel and Pall Mall — recorded 72 percent higher profit than in last year's third quarter, when restructuring costs and the falling value of its trademarks dampened its earnings. It said its estimated 11 percent drop in volume was better than the industry's decline, which it pegged at 12.6 percent.
Lorillard joined Reynolds and several smaller tobacco companies in suing the U. S. Food and Drug Administration over statements it has made under the new authority it won in June to regulate the tobacco industry. A federal judge in Kentucky is considering the case.
BY THE NUMBERS: Analysts surveyed by Thomson Financial on average expect Lorillard to post a profit of $1.52 per share on revenue of $1.32 billion. In the third quarter a year earlier, the company earned $1.38 per share on revenue of $1.12 billion.
ANALYST TAKE: Analysts hope the third quarter sheds light on cigarette volumes for the year as the industry recovers from turbulence surrounding the federal tax increase.
Credit Suisse analyst Thilo Wrede told investors Oct. 13 that despite volume declines he expects Newport to keep gaining market share and he said Lorillard's Maverick brand would post double-digit volume gains.
In a separate note Sept. 21, Wrede said Lorillard is the best U.S. tobacco company.
"Lorillard continues to have the best margins, volume growth outlook and brand equity," Wrede wrote, adding that Maverick is drawing budget-conscious smokers.
WHAT'S AHEAD: The tobacco industry is anticipating more fallout from the FDA's new regulatory authority. Although a ban on flavored cigarettes went into effect last month, the FDA has not clarified how it will treat menthol cigarettes like Lorillard's popular Newport brand. And both Altria and Reynolds American hope to take some of Lorillard's share of the menthol market.
Wall Street will be looking at how further smoking bans, tax increases and regulation could affect cigarette volumes and profitability.
STOCK PERFORMANCE: During the quarter that ended Sept. 30, shares of Lorillard rose about 7.2 percent to $74.30. Over the previous 52 weeks, the stock traded between $52.50 and $79.02.
четверг, 29 октября 2009 г.
Earnings Preview: Lorillard Inc.
RICHMOND, Va. — Tobacco maker Lorillard Inc. reports its third-quarter results on Monday. The following is a summary of key developments and analyst opinion related to the period.
OVERVIEW: The oldest continuously operating U.S. tobacco company and maker of Newport menthol cigarettes, based in Greensboro, N.C., said in July that it was selling more cigarettes even after it raised prices and a federal tax increase went into effect April 1.
Cigarette volumes at Lorillard, whose brands also include Kent, True, Maverick, Old Gold and Max, increased 2.1 percent for the second quarter, when the company estimated volumes fell 4.1 percent across the industry.
It is the fourth major tobacco company to report on its earnings this month. Altria Group Inc. — owner of the nation's biggest cigarette maker, Philip Morris USA, which makes Marlboros — said cost-cutting and higher cigar sales helped its third-quarter profit rise 1.7 percent, even though it sold fewer cigarettes. Altria said its overall cigarette volume fell 12 percent for the quarter, and it estimated a 10 percent drop industrywide.
Reynolds American Inc. — the second-biggest cigarette seller in the U.S. and maker of Camel and Pall Mall — recorded 72 percent higher profit than in last year's third quarter, when restructuring costs and the falling value of its trademarks dampened its earnings. It said its estimated 11 percent drop in volume was better than the industry's decline, which it pegged at 12.6 percent.
Lorillard joined Reynolds and several smaller tobacco companies in suing the U. S. Food and Drug Administration over statements it has made under the new authority it won in June to regulate the tobacco industry. A federal judge in Kentucky is considering the case.
BY THE NUMBERS: Analysts surveyed by Thomson Financial on average expect Lorillard to post a profit of $1.52 per share on revenue of $1.32 billion. In the third quarter a year earlier, the company earned $1.38 per share on revenue of $1.12 billion.
ANALYST TAKE: Analysts hope the third quarter sheds light on cigarette volumes for the year as the industry recovers from turbulence surrounding the federal tax increase.
Credit Suisse analyst Thilo Wrede told investors Oct. 13 that despite volume declines he expects Newport to keep gaining market share and he said Lorillard's Maverick brand would post double-digit volume gains.
In a separate note Sept. 21, Wrede said Lorillard is the best U.S. tobacco company.
"Lorillard continues to have the best margins, volume growth outlook and brand equity," Wrede wrote, adding that Maverick is drawing budget-conscious smokers.
WHAT'S AHEAD: The tobacco industry is anticipating more fallout from the FDA's new regulatory authority. Although a ban on flavored cigarettes went into effect last month, the FDA has not clarified how it will treat menthol cigarettes like Lorillard's popular Newport brand. And both Altria and Reynolds American hope to take some of Lorillard's share of the menthol market.
Wall Street will be looking at how further smoking bans, tax increases and regulation could affect cigarette volumes and profitability.
STOCK PERFORMANCE: During the quarter that ended Sept. 30, shares of Lorillard rose about 7.2 percent to $74.30. Over the previous 52 weeks, the stock traded between $52.50 and $79.02.
OVERVIEW: The oldest continuously operating U.S. tobacco company and maker of Newport menthol cigarettes, based in Greensboro, N.C., said in July that it was selling more cigarettes even after it raised prices and a federal tax increase went into effect April 1.
Cigarette volumes at Lorillard, whose brands also include Kent, True, Maverick, Old Gold and Max, increased 2.1 percent for the second quarter, when the company estimated volumes fell 4.1 percent across the industry.
It is the fourth major tobacco company to report on its earnings this month. Altria Group Inc. — owner of the nation's biggest cigarette maker, Philip Morris USA, which makes Marlboros — said cost-cutting and higher cigar sales helped its third-quarter profit rise 1.7 percent, even though it sold fewer cigarettes. Altria said its overall cigarette volume fell 12 percent for the quarter, and it estimated a 10 percent drop industrywide.
Reynolds American Inc. — the second-biggest cigarette seller in the U.S. and maker of Camel and Pall Mall — recorded 72 percent higher profit than in last year's third quarter, when restructuring costs and the falling value of its trademarks dampened its earnings. It said its estimated 11 percent drop in volume was better than the industry's decline, which it pegged at 12.6 percent.
Lorillard joined Reynolds and several smaller tobacco companies in suing the U. S. Food and Drug Administration over statements it has made under the new authority it won in June to regulate the tobacco industry. A federal judge in Kentucky is considering the case.
BY THE NUMBERS: Analysts surveyed by Thomson Financial on average expect Lorillard to post a profit of $1.52 per share on revenue of $1.32 billion. In the third quarter a year earlier, the company earned $1.38 per share on revenue of $1.12 billion.
ANALYST TAKE: Analysts hope the third quarter sheds light on cigarette volumes for the year as the industry recovers from turbulence surrounding the federal tax increase.
Credit Suisse analyst Thilo Wrede told investors Oct. 13 that despite volume declines he expects Newport to keep gaining market share and he said Lorillard's Maverick brand would post double-digit volume gains.
In a separate note Sept. 21, Wrede said Lorillard is the best U.S. tobacco company.
"Lorillard continues to have the best margins, volume growth outlook and brand equity," Wrede wrote, adding that Maverick is drawing budget-conscious smokers.
WHAT'S AHEAD: The tobacco industry is anticipating more fallout from the FDA's new regulatory authority. Although a ban on flavored cigarettes went into effect last month, the FDA has not clarified how it will treat menthol cigarettes like Lorillard's popular Newport brand. And both Altria and Reynolds American hope to take some of Lorillard's share of the menthol market.
Wall Street will be looking at how further smoking bans, tax increases and regulation could affect cigarette volumes and profitability.
STOCK PERFORMANCE: During the quarter that ended Sept. 30, shares of Lorillard rose about 7.2 percent to $74.30. Over the previous 52 weeks, the stock traded between $52.50 and $79.02.
среда, 28 октября 2009 г.
Children hooked on illegal tobacco
Children are getting hooked on smoking through the sale of illegal cigarettes in "tab houses".
Trading Standards officials said 30% of young people admitted buying cheap and illicit tobacco - much of which has been smuggled into the country.
The cigarettes are sold from private homes in deprived areas with no age checks, creating a new generation of smokers struggling in the economic climate, it is claimed.
Richard Ferry, from Trading Standards North East, told the BBC: "About 30% of under 18s admit to buying cheap and illicit tobacco.
"It means they start smoking earlier and they can smoke more. The people who sell from tab houses don't care who they sell to."
The sorts of cigarettes being sold include duty-free cigarettes, which should be for personal use only, fake versions of well-known brands and "cheap whites" - cigarettes aimed specifically at the black market.
Tobacco smuggling is thought to cost the UK economy about £3 billion a year in lost tax revenue.
Meanwhile, customs officers have seized n estimated 120 million cigarettes smuggled into the Irish Republic.
It is understood the majority of the Palace and Chelsea brands were destined for the UK market.
Trading Standards officials said 30% of young people admitted buying cheap and illicit tobacco - much of which has been smuggled into the country.
The cigarettes are sold from private homes in deprived areas with no age checks, creating a new generation of smokers struggling in the economic climate, it is claimed.
Richard Ferry, from Trading Standards North East, told the BBC: "About 30% of under 18s admit to buying cheap and illicit tobacco.
"It means they start smoking earlier and they can smoke more. The people who sell from tab houses don't care who they sell to."
The sorts of cigarettes being sold include duty-free cigarettes, which should be for personal use only, fake versions of well-known brands and "cheap whites" - cigarettes aimed specifically at the black market.
Tobacco smuggling is thought to cost the UK economy about £3 billion a year in lost tax revenue.
Meanwhile, customs officers have seized n estimated 120 million cigarettes smuggled into the Irish Republic.
It is understood the majority of the Palace and Chelsea brands were destined for the UK market.
Crushing virtual ciggies can reduce tobacco addiction
Washington, Oct 28 (ANI): A new study has shown that crushing cigarettes in a virtual reality environment reduces tobacco addiction.
In the study, researchers found that smokers who crushed computer-simulated cigarettes as part of a psychosocial treatment program in a virtual reality environment had significantly reduced nicotine dependence and higher rates of tobacco abstinence than smokers participating in the same program who grasped a computer-simulated ball.
Benoit Girard, MD, Vincent Turcotte, and Bruno Girard, MBA, from the GRAP Occupational Psychology Clinic (Quebec, Canada), and Stéphane Bouchard, PhD, from the University of Quebec in Gatineau, randomly assigned 91 smokers enrolled in a 12-week anti-smoking support program to one of two treatment groups.
In a computer-generated virtual reality environment, one group simulated crushing virtual cigarettes, while the other group grasped virtual balls during 4 weekly sessions.
The findings demonstrate a statistically significant reduction in nicotine addiction among the smokers in the cigarette-crushing group versus those in the ball-grasping group.
Also, at week 12 of the program, the smoking abstinence rate was significantly higher for the cigarette-crushing group (15 percent) compared to the ball-grasping group (2 percent).
Other notable findings include the following: smokers who crushed virtual cigarettes tended to stay in the treatment program longer than the ball-grasping group. At the 6-month follow-up, 39 percent of the cigarette crushers reported not smoking during the previous week, compared to 20 percent of the ball graspers.
The study has been described in the current issue of CyberPsychology and Behaviour, a peer-reviewed journal published by Mary Ann Liebert, Inc. (ANI)
In the study, researchers found that smokers who crushed computer-simulated cigarettes as part of a psychosocial treatment program in a virtual reality environment had significantly reduced nicotine dependence and higher rates of tobacco abstinence than smokers participating in the same program who grasped a computer-simulated ball.
Benoit Girard, MD, Vincent Turcotte, and Bruno Girard, MBA, from the GRAP Occupational Psychology Clinic (Quebec, Canada), and Stéphane Bouchard, PhD, from the University of Quebec in Gatineau, randomly assigned 91 smokers enrolled in a 12-week anti-smoking support program to one of two treatment groups.
In a computer-generated virtual reality environment, one group simulated crushing virtual cigarettes, while the other group grasped virtual balls during 4 weekly sessions.
The findings demonstrate a statistically significant reduction in nicotine addiction among the smokers in the cigarette-crushing group versus those in the ball-grasping group.
Also, at week 12 of the program, the smoking abstinence rate was significantly higher for the cigarette-crushing group (15 percent) compared to the ball-grasping group (2 percent).
Other notable findings include the following: smokers who crushed virtual cigarettes tended to stay in the treatment program longer than the ball-grasping group. At the 6-month follow-up, 39 percent of the cigarette crushers reported not smoking during the previous week, compared to 20 percent of the ball graspers.
The study has been described in the current issue of CyberPsychology and Behaviour, a peer-reviewed journal published by Mary Ann Liebert, Inc. (ANI)
пятница, 23 октября 2009 г.
Tobacco Law delayed again
Caymanian smokers can rest easy. The anti tobacco law is going to miss yet another deadline.
Required regulations will not be ready to meet the 30 October deadline to fully implement the Tobacco Law, making it the second delay since the law was passed one year ago.
Government missed a deadline of 31 May, which was set by the previous government, to coincide with World No Tobacco Day.
Just 11 days prior to the 31 May deadline a new Government was voted in and Mark Scotland took the helm as Health Minister.
Despite the fact that there was a 60day consultation period, a Chamber of Commerce luncheon and other forums seeking input on the Tobacco Law, Mr. Scotland said the regulations just aren’t ready.
“I have seen the draft of the regulations and it is all marked up with corrections or revisions,” said Mr. Scotland. “So it is a small delay, probably the end of November or December.”
Director of the Cancer Society Christine Sanders said another delay in implementing the Tobacco law is not good for Cayman.
“The delay means that more people will be put at risk for developing cancer as a result of second hand smoke exposure,” said Ms Sanders.
The only part of the Tobacco law that has been implemented is a ban on selling tobacco to minors, which came into effect on 1 May, coinciding with the start of Child Month in the Cayman Islands.
Even without legislation in place, many restaurants and bars have implemented non–smoking policies indoors with some establishments going completely smoke–free.
“That is the trend,” said Ms Sanders.
Once the regulations are in effect, the law will ban smoking in bars, restaurants and places of collective use.
But smoking outdoors will still be permitted at least 10 feet away from the entrance to buildings.
Cigar bars are exempted but they will be required to install smoke extractors or ventilators within 12 months of the regulations being implemented.
The delay in introducing the Tobacco Law comes when countries around the world and throughout the Caribbean have introduced smoking bans.
Bermuda began enforcing a smoking ban in October 2006. Puerto Rico went further in March 2007 extending the ban on smoking in confined places including private cars with children younger than 13 inside. The British Virgin Islands followed suit in mid–2007 with a ban on smoking in all confined places.
Cuba has banned smoking in most work places, cigarette machines have been removed and it has been illegal to sell tobacco products close to schools since February 2005.
Required regulations will not be ready to meet the 30 October deadline to fully implement the Tobacco Law, making it the second delay since the law was passed one year ago.
Government missed a deadline of 31 May, which was set by the previous government, to coincide with World No Tobacco Day.
Just 11 days prior to the 31 May deadline a new Government was voted in and Mark Scotland took the helm as Health Minister.
Despite the fact that there was a 60day consultation period, a Chamber of Commerce luncheon and other forums seeking input on the Tobacco Law, Mr. Scotland said the regulations just aren’t ready.
“I have seen the draft of the regulations and it is all marked up with corrections or revisions,” said Mr. Scotland. “So it is a small delay, probably the end of November or December.”
Director of the Cancer Society Christine Sanders said another delay in implementing the Tobacco law is not good for Cayman.
“The delay means that more people will be put at risk for developing cancer as a result of second hand smoke exposure,” said Ms Sanders.
The only part of the Tobacco law that has been implemented is a ban on selling tobacco to minors, which came into effect on 1 May, coinciding with the start of Child Month in the Cayman Islands.
Even without legislation in place, many restaurants and bars have implemented non–smoking policies indoors with some establishments going completely smoke–free.
“That is the trend,” said Ms Sanders.
Once the regulations are in effect, the law will ban smoking in bars, restaurants and places of collective use.
But smoking outdoors will still be permitted at least 10 feet away from the entrance to buildings.
Cigar bars are exempted but they will be required to install smoke extractors or ventilators within 12 months of the regulations being implemented.
The delay in introducing the Tobacco Law comes when countries around the world and throughout the Caribbean have introduced smoking bans.
Bermuda began enforcing a smoking ban in October 2006. Puerto Rico went further in March 2007 extending the ban on smoking in confined places including private cars with children younger than 13 inside. The British Virgin Islands followed suit in mid–2007 with a ban on smoking in all confined places.
Cuba has banned smoking in most work places, cigarette machines have been removed and it has been illegal to sell tobacco products close to schools since February 2005.
четверг, 22 октября 2009 г.
Parolee charged in South Loop attack over cigarettes, again
A recent prison parolee -- convicted last year of beating up a couple who refused to give him a cigarette -- was charged again Wednesday after allegedly threatening a woman in the South Loop who refused to give him a smoke.
Derrick King, 47, is charged with a misdemeanor count of assault and was being held on a warrant for violation of probation, according to police News Affairs.King approached a 49-year-old woman about 3:20 a.m. near a store in the 500 block of West Roosevelt Road and asked her for a cigarette, police said. When she declined, King said, “Remember the couple who got beat up real bad for not giving a cigarette, that was me!” He then allegedly charged towards the woman, police said.
The woman was able to flag down Central District police officers who were patrolling the area and King was taken into custody, police said.
King was convicted last year of strong-armed robbery for an Aug. 25, 2008, attack of a couple in their 30s near a South Loop store. He and a woman, Joyce Burgess, confronted the pair and Burgess asked for a cigarette. The female victim, Jen Hall, said "go get a job," a police source said.
A fight ensued and King grabbed Hall, throwing her to the ground, beating her in the head and knocking out most of her upper teeth, according to police.
King, 47, formerly of the Pacific Garden Mission at 1458 S. Canal, and Burgess, 38, were charged with strong-armed robbery in the Aug. 25, 2008, attack, according to police, who said they stole a Blackberry. King was also charged with aggravated battery.
King, who was sentenced to three years in prison, was paroled on Tuesday, according to an Illinois Dept. of Corrections database.
Derrick King, 47, is charged with a misdemeanor count of assault and was being held on a warrant for violation of probation, according to police News Affairs.King approached a 49-year-old woman about 3:20 a.m. near a store in the 500 block of West Roosevelt Road and asked her for a cigarette, police said. When she declined, King said, “Remember the couple who got beat up real bad for not giving a cigarette, that was me!” He then allegedly charged towards the woman, police said.
The woman was able to flag down Central District police officers who were patrolling the area and King was taken into custody, police said.
King was convicted last year of strong-armed robbery for an Aug. 25, 2008, attack of a couple in their 30s near a South Loop store. He and a woman, Joyce Burgess, confronted the pair and Burgess asked for a cigarette. The female victim, Jen Hall, said "go get a job," a police source said.
A fight ensued and King grabbed Hall, throwing her to the ground, beating her in the head and knocking out most of her upper teeth, according to police.
King, 47, formerly of the Pacific Garden Mission at 1458 S. Canal, and Burgess, 38, were charged with strong-armed robbery in the Aug. 25, 2008, attack, according to police, who said they stole a Blackberry. King was also charged with aggravated battery.
King, who was sentenced to three years in prison, was paroled on Tuesday, according to an Illinois Dept. of Corrections database.
пятница, 16 октября 2009 г.
Authorities release image of suspect in Cambridge City robbery
The Wayne County Sheriff’s Department released a photo this morning of a man wearing a blue surgical mask who robbed a gas station at gunpoint Sunday morning near Cambridge City.
“The suspect approached the counter and acted like he was going to buy a Mountain Dew and two packs of Marlboro cigarettes,” Chief Deputy Jeff Cappa said in a release issued this morning.
After the clerk scanned the items into the register, the suspect pulled a small handgun and demanded money from the register. The clerk complied with the demands, and the suspect fled the store with an undisclosed amount of money, Cappa said.
The robbery took place at 2:20 a.m. Sunday at Gas America, 1589 Indiana 1 N.
The suspect is described as about 5 feet, 9 inches tall with a medium build. He wore a gray hooded jacket, black gloves, blue jeans and white shoes.
The sheriff’s department immediately secured the scene and processed evidence, including video surveillance.
“The suspect approached the counter and acted like he was going to buy a Mountain Dew and two packs of Marlboro cigarettes,” Chief Deputy Jeff Cappa said in a release issued this morning.
After the clerk scanned the items into the register, the suspect pulled a small handgun and demanded money from the register. The clerk complied with the demands, and the suspect fled the store with an undisclosed amount of money, Cappa said.
The robbery took place at 2:20 a.m. Sunday at Gas America, 1589 Indiana 1 N.
The suspect is described as about 5 feet, 9 inches tall with a medium build. He wore a gray hooded jacket, black gloves, blue jeans and white shoes.
The sheriff’s department immediately secured the scene and processed evidence, including video surveillance.
вторник, 13 октября 2009 г.
Firms fighting cig tax
A Mississippi cigarette distribution company and a Kentucky manufacturer want to nix a state law that taxes their cigarettes sold out of state.
In a complaint filed in Hinds County Chancery Court against the State Tax Commission, The Corr-Williams Co. and Commonwealth Brands Inc. said the 1 1/4-cent-per-cigarette fee on smokes sold out of state violates the U.S. Constitution by unfairly taxing interstate commerce.
The companies are not challenging taxes collected on cigarettes sold in state.
The tax in question - which equates to about 20 cents a pack - went into affect in July and applies to manufacturers not included in the state's 1997 tobacco settlement.
Last month, the state billed 20 manufacturers $537,499, said Kathy Waterbury, a spokeswoman for the State Tax Commission. Those first payments are due Thursday.
In the complaint, the companies ask the state be prevented from collecting the fee.
Because it is pending litigation, Waterbury would not answer questions about the lawsuit.
Roy Wilkey, an attorney for Commonwealth, did not return calls seeking comment.
In its complaint, the Bowling Green, Ky.-based company alleges it's being taxed twice on cigarettes distributed through the state.
Commonwealth was not sued by the state and is not a part of Mississippi's tobacco tax settlement. The company voluntarily joined a settlement agreement with 46 other states, a group that does not include Mississippi.
In the agreement with other states, Commonwealth pays taxes based - in part - on all of its sales, including those in Mississippi.
In May, Philip Morris' parent company, Altria Group, wanted to see smaller companies taxed, an effort to level the playing field between big tobacco and its lesser-known competitors.
In June, Gov. Haley Barbour said it would be fair to add a tax to smaller companies not included in the state's tobacco settlement.
Before becoming governor, Barbour was a Washington lobbyist for premium brand cigarettes.
Commonwealth said that 80 percent of its cigarettes distributed through Mississippi are destined for other states.
Steve Carmody, attorney for Corr-Williams, said so far the tax has had little affect on sales, but the potential to affect them is great.
The Corr-Williams Co., which is based in Pearl, has warehouses in Columbia and Natchez and distributes tobacco and grocery products in Mississippi and Louisiana.
Senate Finance Committee Chairman Dean Kirby, R-Pearl, said he will check with attorneys at the Capitol to see what other states have done.
In a complaint filed in Hinds County Chancery Court against the State Tax Commission, The Corr-Williams Co. and Commonwealth Brands Inc. said the 1 1/4-cent-per-cigarette fee on smokes sold out of state violates the U.S. Constitution by unfairly taxing interstate commerce.
The companies are not challenging taxes collected on cigarettes sold in state.
The tax in question - which equates to about 20 cents a pack - went into affect in July and applies to manufacturers not included in the state's 1997 tobacco settlement.
Last month, the state billed 20 manufacturers $537,499, said Kathy Waterbury, a spokeswoman for the State Tax Commission. Those first payments are due Thursday.
In the complaint, the companies ask the state be prevented from collecting the fee.
Because it is pending litigation, Waterbury would not answer questions about the lawsuit.
Roy Wilkey, an attorney for Commonwealth, did not return calls seeking comment.
In its complaint, the Bowling Green, Ky.-based company alleges it's being taxed twice on cigarettes distributed through the state.
Commonwealth was not sued by the state and is not a part of Mississippi's tobacco tax settlement. The company voluntarily joined a settlement agreement with 46 other states, a group that does not include Mississippi.
In the agreement with other states, Commonwealth pays taxes based - in part - on all of its sales, including those in Mississippi.
In May, Philip Morris' parent company, Altria Group, wanted to see smaller companies taxed, an effort to level the playing field between big tobacco and its lesser-known competitors.
In June, Gov. Haley Barbour said it would be fair to add a tax to smaller companies not included in the state's tobacco settlement.
Before becoming governor, Barbour was a Washington lobbyist for premium brand cigarettes.
Commonwealth said that 80 percent of its cigarettes distributed through Mississippi are destined for other states.
Steve Carmody, attorney for Corr-Williams, said so far the tax has had little affect on sales, but the potential to affect them is great.
The Corr-Williams Co., which is based in Pearl, has warehouses in Columbia and Natchez and distributes tobacco and grocery products in Mississippi and Louisiana.
Senate Finance Committee Chairman Dean Kirby, R-Pearl, said he will check with attorneys at the Capitol to see what other states have done.
пятница, 9 октября 2009 г.
Canada bans fruit-flavored cigarettes
VANCOUVER, British Columbia (Reuters) - Canada has banned the manufacture, importation and sale of most flavored cigarettes and small cigars, which have been slammed as little more than an enticement to get children to start smoking.
The law, which came into effect on Thursday, was backed by both government and opposition lawmakers. It also bans tobacco advertising in newspapers and magazines, closing a loophole that had allowed ads in publications that claimed they were read only by adults.
Anti-smoking groups said fruit-flavored cigarettes were marketed like candy to lure young smokers, but the industry complained the law was too broad and would unfairly restrict importation of U.S.-grown burley tobacco.
Lawmakers in U.S. tobacco-growing states have complained the law will cost U.S. jobs, and a U.S. Senator has been blocking the appointment of a White House trade official in a bid to make the Obama administration put pressure on Canada.
Anti-smoking groups say the jobs complaint is unfounded since Canada did not import any U.S.-grown burley tobacco in 2007 and 2008, and "American-style" cigarettes make up less than 1 percent of the Canadian market.
"The trade argument was invented out of thin air," said Rob Cunningham of the Canadian Cancer Society.
The Canadian ban is more sweeping than one imposed last month by the U.S. Food and Drug Administration because it also includes small cigars. Nether ban includes menthol-flavored cigarettes.
The law, which came into effect on Thursday, was backed by both government and opposition lawmakers. It also bans tobacco advertising in newspapers and magazines, closing a loophole that had allowed ads in publications that claimed they were read only by adults.
Anti-smoking groups said fruit-flavored cigarettes were marketed like candy to lure young smokers, but the industry complained the law was too broad and would unfairly restrict importation of U.S.-grown burley tobacco.
Lawmakers in U.S. tobacco-growing states have complained the law will cost U.S. jobs, and a U.S. Senator has been blocking the appointment of a White House trade official in a bid to make the Obama administration put pressure on Canada.
Anti-smoking groups say the jobs complaint is unfounded since Canada did not import any U.S.-grown burley tobacco in 2007 and 2008, and "American-style" cigarettes make up less than 1 percent of the Canadian market.
"The trade argument was invented out of thin air," said Rob Cunningham of the Canadian Cancer Society.
The Canadian ban is more sweeping than one imposed last month by the U.S. Food and Drug Administration because it also includes small cigars. Nether ban includes menthol-flavored cigarettes.
среда, 7 октября 2009 г.
Md. Thief Gives New Meaning to Chain-Smoking
One man, one bag, one mission: to repeatedly steal Newport cigarettes from the same Capitol Heights 7-Eleven.
Such is the latest crime wave to hit Prince George's County, or at least one 7-Eleven in the 7400 block of Central Avenue. Since June, police say, one man has hit the convenience store six times, and in each case, he has looked no farther than the smokes.
On Tuesday, police released a surveillance photograph of the man and detailed his methods. In each incident, police said, he waits until customers have left the store and jumps over the counter. He grabs cigarettes, filling his white bag to the brim before fleeing, possibly in a silver Ford sedan, according to police and a store employee.
Newports are his preference, but if there aren't enough to fill his bag, he'll also take Marlboros, Kools and cigars, said a store employee who spoke on condition of anonymity because he was not authorized to talk to reporters about the case. The employee said the thefts are so frequent that it seems as if the man is there every week. At times, he has been.
The thief first struck at 2 a.m. June 12, then a week later, at 4:21 a.m. June 19, said Officer Larry Johnson, a spokesman for the Prince George's police. He seemed to take the rest of the summer off -- not striking again until Sept. 6 -- but he has been a fixture at the convenience store since then, Johnson said. He stole cigarettes Sept. 12, Sept. 25 and Oct. 1, the most recent theft.
Police said no one has been harmed, and the man has only talked of having a gun. He never wears a mask, and investigators say he might be casing the store before each theft.
"It's obvious this guy knows who's going to be in there, when they're going to be in there, what he can do," Johnson said.
Johnson said police are checking on the store periodically, and they've advised employees there to vary their routines to throw off the suspect. He described the suspect as male, about 40 years old, standing 5-foot-5 and weighing 180 pounds.
Such is the latest crime wave to hit Prince George's County, or at least one 7-Eleven in the 7400 block of Central Avenue. Since June, police say, one man has hit the convenience store six times, and in each case, he has looked no farther than the smokes.
On Tuesday, police released a surveillance photograph of the man and detailed his methods. In each incident, police said, he waits until customers have left the store and jumps over the counter. He grabs cigarettes, filling his white bag to the brim before fleeing, possibly in a silver Ford sedan, according to police and a store employee.
Newports are his preference, but if there aren't enough to fill his bag, he'll also take Marlboros, Kools and cigars, said a store employee who spoke on condition of anonymity because he was not authorized to talk to reporters about the case. The employee said the thefts are so frequent that it seems as if the man is there every week. At times, he has been.
The thief first struck at 2 a.m. June 12, then a week later, at 4:21 a.m. June 19, said Officer Larry Johnson, a spokesman for the Prince George's police. He seemed to take the rest of the summer off -- not striking again until Sept. 6 -- but he has been a fixture at the convenience store since then, Johnson said. He stole cigarettes Sept. 12, Sept. 25 and Oct. 1, the most recent theft.
Police said no one has been harmed, and the man has only talked of having a gun. He never wears a mask, and investigators say he might be casing the store before each theft.
"It's obvious this guy knows who's going to be in there, when they're going to be in there, what he can do," Johnson said.
Johnson said police are checking on the store periodically, and they've advised employees there to vary their routines to throw off the suspect. He described the suspect as male, about 40 years old, standing 5-foot-5 and weighing 180 pounds.
понедельник, 5 октября 2009 г.
Cigarette giant fights ban on advertisingin shops
PHILIP Morris, the world's largest cigarette firm, will lodge a High Court challenge tomorrow morning to contest the Government's ban on tobacco advertising in shops.
The US company, which has about 10pc of the Irish market through the sale of Marlboro cigarettes, will lodge the case together with Donegal newsagent Maurice Timony.
The tobacco company will pay all the costs of the case, which is being argued in court by barrister Eoin McCullough.
Philip Morris will argue that the ban on displaying cigarettes in shops is unconstitutional and violates the right to earn a livelihood, the right to engage in commerce and the right to compete against rivals. Other complaints include an alleged infringement on the right to free commercial speech and a restriction to the free movement of goods within the European Union (EU).
""It's just to protect our ability to show our product in stores," Philip Morris spokesman Peter Nixon said. "We are not seeking changes to the law prohibiting smoking in public places or that prohibit tobacco advertising."
Philip Morris, which has a relatively small share of the Irish market, argues that the ban on display advertising prevents the Marlboro brand from gaining market share.
The company also argues that a similar ban in Iceland and some parts of Canada has not worked but there is no independent research on the matter.
Ireland leads most European countries when it comes to clamping down on smoking. The ban on smoking in public places here was the first to be implemented in the EU and is among the most draconian.
Deterrent
Tobacco prices, one of the biggest proven deterrents to smoking, are among the highest in the EU. However, this also encourages smuggling. Tobacco companies have said that up to 30pc of cigarettes smoked in the State are either contraband or counterfeit. Government figures suggest the figure is somewhere between 20pc and 25pc.
Germany's constitutional court struck down a smoking ban last year because it feared that small bars were at a disadvantage because they could not provide separate smoking areas.
The US company, which has about 10pc of the Irish market through the sale of Marlboro cigarettes, will lodge the case together with Donegal newsagent Maurice Timony.
The tobacco company will pay all the costs of the case, which is being argued in court by barrister Eoin McCullough.
Philip Morris will argue that the ban on displaying cigarettes in shops is unconstitutional and violates the right to earn a livelihood, the right to engage in commerce and the right to compete against rivals. Other complaints include an alleged infringement on the right to free commercial speech and a restriction to the free movement of goods within the European Union (EU).
""It's just to protect our ability to show our product in stores," Philip Morris spokesman Peter Nixon said. "We are not seeking changes to the law prohibiting smoking in public places or that prohibit tobacco advertising."
Philip Morris, which has a relatively small share of the Irish market, argues that the ban on display advertising prevents the Marlboro brand from gaining market share.
The company also argues that a similar ban in Iceland and some parts of Canada has not worked but there is no independent research on the matter.
Ireland leads most European countries when it comes to clamping down on smoking. The ban on smoking in public places here was the first to be implemented in the EU and is among the most draconian.
Deterrent
Tobacco prices, one of the biggest proven deterrents to smoking, are among the highest in the EU. However, this also encourages smuggling. Tobacco companies have said that up to 30pc of cigarettes smoked in the State are either contraband or counterfeit. Government figures suggest the figure is somewhere between 20pc and 25pc.
Germany's constitutional court struck down a smoking ban last year because it feared that small bars were at a disadvantage because they could not provide separate smoking areas.
четверг, 1 октября 2009 г.
CCSC first-year debates: much ado about smoking
“Why are you wearing flip-flops?” Elections Board chair James Bogner, CC ’10, quizzed first-year council candidate Emilio Santiago.
“Uh, because I have a Hawaiian shirt on?” Let’s Party member Santiago responded.
Columbia College Student Council first-year elections opened Tuesday morning, but last night prospective members from the six parties debated policy and practicality in Roone Arledge cinema in a debate that honed in on prospective smoking bans and community building—though less so on candidates sartorial decisions.
With the major CCSC policy question of the day about the future of a proposed on-campus smoking ban, candidates weighed in on possible next steps.
Laila Sultana, presidential candidate for the Blue Union Party, noted that she was personally allergic to the smoke and believed that as a learning environment, the campus should be healthy for all students.
Other parties commented that regardless of their own personal feelings on the possible campus smoking ban—most who shared their opinions came out against it—the council needs to increase outreach to better gauge student opinion.
Still, most parties acknowledged that previous student polling regarding the ban had seemed flawed and incomplete, and that the council may need to look past traditional surveying techniques.
At Sunday night’s CCSC meeting, some members questioned the concept and effectiveness of campus polling.
Bogner called back to the third-party polling conducted among students last fall at the height of debate over whether NROTC should be introduced on campus, a survey that ultimately came back inconclusive.
“Polls usually never work, that’s what we’re hearing,” Tara Reed, presidential candidate for the Lion’s Initiative, said. She suggested reallocating that money to alternative ways of gathering opinion in a more “grassroots” method—perhaps approaching more people individually or in different settings.
“Knocking on people’s doors isn’t going to work,” presidential candidate for the Impact Party Alexander Jasiulek shot back. It would be, he said, an invasion of personal space—as well as just another form of polling, which Reed had suggested stepping away from.
For the Lion’s Initiative party, priorities are recovering study days for the exam reading week—a priority shared by the Karma Party—and pushing to open up Ferris Booth commons to meal plans, a change that an opposing candidate said seemed unlikely. The Impact Party said that they were interested in increasing transparency between the central administration and the students, as well as working to provide wireless internet in all campus dorms—possibly the most unattainable goal suggested at the debate, Bogner commented when asked about its feasibility.
The Let’s Party spoke of the need for a more efficient student registration system for the school, and said they wanted to further green initiatives like cutting down on campus fliering—though an audience member retorted that he had seen at least five fliers for their party alone in an elevator that day.
Sultana said her Blue Union party would like to see more interaction between the CCSC and students, and presidential candidate for the Columbia University Activists party Jonathan Trujillo remarked that improving campus hygiene, particularly in the bathrooms, was high on his list and seemed a feasible goal.
For Eleanor Stein’s one-person, borderline unpronounceable Hiphopopotamus party, Stein, who is running for representative, said she thought the class of 2013 would benefit from more freshmen-only programming, and hoped it could put her on her way to recognizing most faces on campus.
“There really hasn’t been a lot of overlap—that means there’s a lot of stuff to be worked on,” Bogner said.
He also encouraged the candidates to push their fellow students to vote.
“This is important because right now, in the write-in votes, Jesus is really doing well,” he warned.
“Uh, because I have a Hawaiian shirt on?” Let’s Party member Santiago responded.
Columbia College Student Council first-year elections opened Tuesday morning, but last night prospective members from the six parties debated policy and practicality in Roone Arledge cinema in a debate that honed in on prospective smoking bans and community building—though less so on candidates sartorial decisions.
With the major CCSC policy question of the day about the future of a proposed on-campus smoking ban, candidates weighed in on possible next steps.
Laila Sultana, presidential candidate for the Blue Union Party, noted that she was personally allergic to the smoke and believed that as a learning environment, the campus should be healthy for all students.
Other parties commented that regardless of their own personal feelings on the possible campus smoking ban—most who shared their opinions came out against it—the council needs to increase outreach to better gauge student opinion.
Still, most parties acknowledged that previous student polling regarding the ban had seemed flawed and incomplete, and that the council may need to look past traditional surveying techniques.
At Sunday night’s CCSC meeting, some members questioned the concept and effectiveness of campus polling.
Bogner called back to the third-party polling conducted among students last fall at the height of debate over whether NROTC should be introduced on campus, a survey that ultimately came back inconclusive.
“Polls usually never work, that’s what we’re hearing,” Tara Reed, presidential candidate for the Lion’s Initiative, said. She suggested reallocating that money to alternative ways of gathering opinion in a more “grassroots” method—perhaps approaching more people individually or in different settings.
“Knocking on people’s doors isn’t going to work,” presidential candidate for the Impact Party Alexander Jasiulek shot back. It would be, he said, an invasion of personal space—as well as just another form of polling, which Reed had suggested stepping away from.
For the Lion’s Initiative party, priorities are recovering study days for the exam reading week—a priority shared by the Karma Party—and pushing to open up Ferris Booth commons to meal plans, a change that an opposing candidate said seemed unlikely. The Impact Party said that they were interested in increasing transparency between the central administration and the students, as well as working to provide wireless internet in all campus dorms—possibly the most unattainable goal suggested at the debate, Bogner commented when asked about its feasibility.
The Let’s Party spoke of the need for a more efficient student registration system for the school, and said they wanted to further green initiatives like cutting down on campus fliering—though an audience member retorted that he had seen at least five fliers for their party alone in an elevator that day.
Sultana said her Blue Union party would like to see more interaction between the CCSC and students, and presidential candidate for the Columbia University Activists party Jonathan Trujillo remarked that improving campus hygiene, particularly in the bathrooms, was high on his list and seemed a feasible goal.
For Eleanor Stein’s one-person, borderline unpronounceable Hiphopopotamus party, Stein, who is running for representative, said she thought the class of 2013 would benefit from more freshmen-only programming, and hoped it could put her on her way to recognizing most faces on campus.
“There really hasn’t been a lot of overlap—that means there’s a lot of stuff to be worked on,” Bogner said.
He also encouraged the candidates to push their fellow students to vote.
“This is important because right now, in the write-in votes, Jesus is really doing well,” he warned.
Подписаться на:
Сообщения (Atom)
