Splitting off U.S. tobacco companies domestic operations

[Robert Weissman <rob@essential.org>]

>From the Advocacy Institute's Daily News Summaries, open discussion of a
very disturbing scenarios for tobacco industry structure --
separating domestic tobacco subsidiaries from U.S. parent companies,
meaning income from overseas operations will be shielded from domestic
liabilities. 
   
~-_-~-_-~-_-~-_-~-_-~-_-~-_-~-_-~-_-~-_-~-_-~-

Tobacco Stocks Rise Slightly

Philip Morris stocks rose over one-half of a point and RJ
Reynolds rose by almost one- half of a point.  However, tobacco
stocks continue to struggle as public sentiment against smoking
has affected share prices.  Ross Margolies, portfolio manager at
Solomon Brothers Capital Fund, asserted that, "Investors have
attached negative value to these companies' domestic tobacco
businesses," and therefore Margolies believes, "we'll end up
with some resolution that allows these companies to separate
their domestic tobacco business from the rest of the company."

Source(s):
WALL STREET JOURNAL, (6/10/98)
   "Airline Shares Surge as US Air, AMR, Delta Gain; Industrials Slip",
Robert O'Brien and Dunstan Prial, p. C4

~-_-~-_-~-_-~-_-~-_-~-_-~-_-~-_-~-_-~-_-~-_-~-