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    Smoke of smokes

    Cnn Reporting:

    During the trial, officials from the five major tobacco companies testified that their combined worth was just $15.3 billion. Plaintiff's witnesses testified that the companies could afford to pay up to $157 billion.

    The jurors clearly agreed with the plaintiffs. They ordered Philip Morris to pay $73.96 billion. R.J. Reynolds Tobacco Co. was ordered to pay $36.28 billion; Brown & Williamson Tobacco Corp. was ordered to pay $17.59 billion; and Lorillard Tobacco Co. was ordered to pay $16.25 billion. Liggett Group Inc. was ordered to pay $790 million.

    The jury also ordered the now-defunct trade groups Council for Tobacco Research to pay $1.194 million and the Tobacco Institute to pay $278,339.

    Attorneys for the companies said a verdict of more than $15.3 billion would be a "death warrant" for the industry, but after the trial they said the record-setting verdict would have no practical effects. That led reporters to ask if industry lawyers lied to the jury.


    What do you think?
    Is this a right step?
    Would that effect anything?
    Do you think there is any justification for this much of fine?

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    Do you...yahooooooo!!! ?

    #2
    The Fed Govt got them to cough up $200 billion in damages and the tobacco companies quickly raised the product prices to pay for that damage. Similarly, the tobacco co. have settled with other States but nowhere in the area that Florida is demanding.

    In the end, they will settle for some amount, similar to the settlement made with other States. And, cigarette prices will keep going up to pay for the damages. The biggest winner - the lawyers.

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      #3
      Well I think instead of asking this much of money they should have turned this business down.
      They would have asked the govt. to make it illegal to make or sell cigerettes.
      I think smoking is the first step towards drugs and if they ban it then there will be a dramtic decrease in drug usage.

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      Do you...yahooooooo!!! ?

      Comment


        #4
        Yahoo,

        Tobacco is a 'legal' business! To designate it 'illegal' would require approval in both Congress & Senate.

        Secondly, this business generates billions in sales & excise taxes for the govt: federal, state & municipal. Why shoot a cash cow.

        Third, if you ban cigarettes then the business will move underground & un-regulated. What is it - 15% of americans are hooked on cigarettes. If you ban it they will make their own cigarettes or buy in on the black market.

        Prohibition never worked with alchohol! Has prohibition worked with Grass/pot - it's a multi-billion $ business and all underground and people love their pot.

        Comment

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