Posted by Mark J. Miller on January 13, 2014 06:44 PM
Big Tobacco is finally seeing the error of its way—not by its own volition, of course. The US Justice Department has worked out an agreement with America’s tobacco companies to offer up apologies for all the lies they have fed the public over the years about cigarette smoking. According to the Association for Convenience and Fuel Retailing, the statements will “say the companies ‘deliberately deceived the American public.’” An average of 1,200 people die daily because of smoking, the Washington Post reports.
It has been 50 years since US Surgeon General Luther Terry told tobacco companies to put warning labels on cigarette packaging and 18 years since Dr. Jeffrey Wigand told 60 Minutes how his employer, tobacco giant Brown & Williamson, knowingly added carcinogenic and addictive additives to its cigarettes. Wigand’s tale became the hit film, The Insider, but it didn’t stop the Big Tobacco train from still rolling through its path.
The forthcoming “apology” comes after years of legal wrangling. The original order came in 2006 as the result of a case that had originally been filed in 1999. Judge Gladys Kessler found then that the companies were guilty of civil racketeering and lying to the public, USA Today notes.Continue reading...
Posted by Mark J. Miller on October 24, 2013 05:40 PM
So much for the imminent end of Big Tobacco. E-cigarettes, which create a smokeless vapor by heating a liquid containing nicotine, have apparently given the industry quite a boost just as the anti-smoking movement was making note of several victories.
Lorillard pulled in $63 million in sales from its Blu e-cigarettes in its most recent quarter, according to Bloomberg Businessweek. That helped Lorillard claim $1.8 billion in sales overall, 10 percent more than the year before. Almost 4 percent of the tobacco giant’s revenue is now coming from e-cigarettes, as the company estimates that it now owns half of the e-cig market in the US.
Lorillard is reaping the benefits of an ad campaign that it ran in the last year featuring Jenny McCarthy and is getting “strong repeat purchases.” As it is now, Businessweek reports, the global marketplace for e-cigs is $2 billion, but that is expected to grow to $10 billion by 2017. In fact, e-cigs will outsell traditional cigarettes before the century is half over. Put that in your e-pipe and smoke it.Continue reading...
Posted by Dale Buss on October 2, 2013 09:25 AM
Apple is pressed for $150-billion buyback by Carl Icahn as the new #1 Best Global Brand is estimated to be sitting on top of 10% of all US corporate cash.
Volkswagen plans to use augmented reality to service cars.
Google is accused of wiretapping in Gmail scans.
Intel commits to women's digital education.
BlackBerry reveals even more doom in restructuring.
Bravo signs four major new brand partners to integrate in Top Chef.
Campbell Soup sells European simple-meals business.Continue reading...
Posted by Mark J. Miller on September 4, 2013 02:38 PM
It’s been more than 40 years since Big Tobacco aired a commercial on television, but they're back with their billions to convince consumers to try a confounding new product: e-cigarettes.
But the industry's answer to public smoking bans may not have that long to sell themselves on televison. USA Today reports that the US government is making moves towards regulating the devices, which are purported to be a better alternative to regular cigarettes.
The battery-powered devices made to resemble real cigarettes use nicotine but don’t create smoke or ashes that can be offensive to others. The devices are predicted to bring in $1.7 billion in revenue this year and at least $10 billion by the end of 2017.Continue reading...
Posted by Dale Buss on April 26, 2012 08:59 AM
Ancestry.com acquires Archives.com for $100 million.
Anheuser-Busch warns UFC about fighters' inappropriate comments.
Apple now gets one-fourth of its revenue from China as CEO emerges from Jobs's shadow.
Bausch & Lomb shifts focus from contact lenses.
Bottega Veneta launches personalized fashion.
Burberry passes New York Times critique of designer lines for kids.
Burger King faces higher costs after decision to go cage-free.
Chrysler quadruples first-quarter profits and slow-walks investment in China.Continue reading...
Posted by Dale Buss on December 2, 2011 09:04 AM
American Airlines parent AMR bankruptcy could foist huge losses on key creditors.
Apple co-founder Steve Jobs honored with exhibition highlighting his patents and trademarks.
AT&T blasts federal critique of T-Mobile deal, as AT&T, Sprint and T-Mobile deal with Carrier IQ privacy concerns.
Barnes & Noble continues to struggle financially with digital transition.
Chili's drives menu changes and sales with retrofit.
Disney raises dividend to highest level in 20 years.
Fiat closes plant as European demand falls.
GM offers to buy back Volt from owners.Continue reading...
Posted by Shirley Brady on January 6, 2011 06:30 PM
Altria, R.J. Reynolds and Lorillard face tougher tobacco marketing rules in US.
Apple launches app store for Mac software.
Bank of America categorizes clients, adds fees.
Boeing loses major 747 order due to delays.
BP spill inquiry to report that disaster "likely" to recur; and hears that microbes may have mitigated methane damage in the Gulf.
CNN books Oprah as first guest for Piers Morgan's post-Larry King debut on Jan. 17; Madonna still banned as "boring."Continue reading...
Posted by Dale Buss on December 17, 2010 09:00 AM
Amazon can’t dent iTunes.
BMO Financial to acquire Wisconsin bank Marshall & Ilsley.
Carnival Cruise sponsors Times Square confetti drop.
Citigroup opens prototype “bank of the future” in Manhattan.
Denny’s wins big through promotion with AARP.
Genentech is expected to appeal the FDA’s decision on Avastin for breast cancer.Continue reading...