Sick and tired of all the Hussain Obama weaknesses. We know that. Please let me know if you will buy more Altria on the dips today. Down ANOTHER BUCK before the bell, due to Reynold American crazy payout( 24 Billion) to a smoker....
I think the stock is a bit overpriced at $41. I would prefer to add more at a $36-38 level, but I don't really know if it will get down there any time soon. It is a popular stock to own and the buying psychology has been strong for this steady dividend payer...
Widow of chain smoker wins $23.6 BILLION in damages from tobacco company she sued over his death.
The case is one of thousands filed in Florida after the state Supreme Court in 2006 tossed out a $145 billion class action verdict. The damages were awarded Friday to Cynthia Robinson, whose husband died of lung cancer
Reynolds' vice president and assistant general counsel, J. Jeffery Raborn, called the damages in Robinson's case 'grossly excessive and impermissible under state and constitutional law'.
A Florida jury has slammed the nation's No. 2 cigarette maker, R.J. Reynolds Tobacco Co., with $23.6 billion in punitive damages in a lawsuit filed by the widow of a longtime smoker who died of lung cancer in 1996.
The case is one of thousands filed in Florida after the state Supreme Court in 2006 tossed out a $145 billion class action verdict. That ruling also said smokers and their families need only prove addiction and that smoking caused their illnesses or deaths.
Last year, Florida's highest court re-approved that decision, which made it easier for sick smokers or their survivors to pursue lawsuits against tobacco companies without having to prove to the court again that Big Tobacco knowingly sold dangerous products and hid the hazards of cigarette smoking.
This sounds pretty devastating for the tobacco companies. Will there now be another onslaught of tobacco lawsuits? Probably. And we all thought it was over years ago. No doubt we were wrong. Is Big Tobacco going to be sued out of business? How much more will smokers pay for a pack of cigs before they quit? Is it time to move investments away from tobacco? Maybe. Is this too political for anybody?