WASHINGTON, April 1 (Reuters) - President Barack Obama strongly supports legislation that would give the U.S. Food and Drug Administration the power to regulate cigarettes, the White House said on Wednesday.
The U.S. House of Representatives is scheduled to vote later Wednesday on the bill, which would authorize the FDA to oversee the multibillion-dollar tobacco industry, including its advertisements and product designs.
The measure will "yield major benefits to the public health," the Office of Management and Budget said in a statement. (Reporting by Lisa Richwine; Editing by Lisa Von Ahn)
Is this likely to cause this stock to go down? Obama has caused lots of folks to resist investments in electric utilities and coal stocks due to his crazy cap and trade ideas. Maybe he does want to take over the entire world and everyone in it.
Is this likely to cause this stock to go down? Yes ,I would think so. However,I think more people will be smoking our brands before they stop smoking.By the time they stop, I hope the other parts of our business picks up and / or expands. Vector Group engages in the real estate business; offers residential brokerage services; and holds interests in various spas, resorts, and hotels. I'm keeping my portfolio diversified and hoping for the best in the long run.I still have stocks in coal,electric,banks,drugs etc,etc and I'm scared . Well best of luck to you.