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Philip Morris Companies Inc

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NEWS
August 2, 1997 | MELINDA FULMER, SPECIAL TO THE TIMES
One of Orange County's pioneer developers of planned communities, the Mission Viejo Co., will be sold to J.F. Shea Co., an expanding Southern California building firm, it was announced Friday. The deal is expected to fetch more than $400 million, although terms were not disclosed by Philip Morris Cos. Inc., which has owned the Mission Viejo Co. since 1972. Shea will acquire about 900 acres of undeveloped land in Mission Viejo and Aliso Viejo, and 3,600 acres in Colorado.
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BUSINESS
August 30, 2007 | From the Associated Press
Altria Group Inc. plans to spin off its Philip Morris International tobacco unit, a move designed to give the overseas maker of Marlboros and other cigarette brands more freedom to pursue sales growth in emerging markets. The plans announced Wednesday would leave Altria with its much smaller domestic tobacco business that nonetheless still ranks as the biggest in the United States.
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CALIFORNIA | LOCAL
May 9, 1991 | BOB POOL, TIMES STAFF WRITER
An original copy of the Bill of Rights went on display Wednesday in Los Angeles amid complaints that visitors who come to see it are being sold a bill of goods. The handwritten document's five-day visit at the Shrine Exposition Center is part of a cross-country tour marking the bicentennial of the 10 constitutional amendments that protect Americans' individual freedoms. But the 26,000-mile tour is being sponsored by the giant cigarette maker, Philip Morris Companies Inc.
BUSINESS
March 22, 2005 | Myron Levin, Times Staff Writer
The U.S. Supreme Court on Monday rejected an appeal by Philip Morris, setting the stage for the tobacco giant to pay more than $16 million to a Glendale woman who contracted lung cancer. It would be the largest payment and the first punitive damages ever paid to an individual smoker. The court's refusal to review the case was the last gasp for Altria Group Inc.'s Philip Morris, which had been fighting for six years to overturn the damages award to Patricia Henley.
ENTERTAINMENT
December 6, 1991 | SHAUNA SNOW, TIMES STAFF WRITER
A coalition of professional artists, UCLA professors and students have joined to protest sponsorship by tobacco giant Philip Morris Companies Inc. of the art exhibition "Memory and Metaphor, The Art of Romare Bearden, 1940-1987," which opens at UCLA's Wight Art Gallery on Tuesday.
NEWS
October 31, 1988 | BILL SING, Times Staff Writer
Kraft Inc. said Sunday that it agreed to be acquired by Philip Morris Cos. for $13.1 billion, or $106 per share, in what would be the nation's largest non-oil merger ever. The agreement--which came after Philip Morris agreed late Friday to sweeten an earlier $11.2-billion, $90-a-share offer that Kraft had rejected--will make Philip Morris the world's largest consumer products company, surpassing the Anglo-Dutch conglomerate Unilever.
NEWS
September 17, 1998 | MYRON LEVIN, TIMES STAFF WRITER
Philip Morris and British-American Tobacco, the world's two biggest tobacco companies, secretly joined forces to fix cigarette prices and divide markets in Argentina, Venezuela and other Latin American countries, according to internal documents that explicitly describe the deals and the involvement of some of the firms' most senior executives.
NEWS
February 11, 1999 | JOSEPH MENN and MYRON LEVIN, TIMES STAFF WRITERS
A San Francisco jury stunned the cigarette industry by ordering Philip Morris to pay a record-shattering $50 million in punitive damages to a Los Angeles smoker who kicked the habit shortly before she was diagnosed with lung cancer. The award--more than three times what the plaintiff's lawyer asked for--was a sharp blow to an industry that had hoped its historic legal settlement with the states in November put its major legal problems behind it.
NEWS
February 10, 1999 | MYRON LEVIN, TIMES STAFF WRITER
The tobacco industry suffered a legal defeat late Tuesday when a San Francisco jury found Philip Morris liable for the lung cancer of a longtime smoker and awarded her $1.5 million in compensatory damages, an amount that may rise when deliberations resume today on her request for punitive damages. Tobacco companies have settled a number of major cases, but the verdict for Patricia Henley, 52, of Los Angeles is the first victory for a plaintiff in a California smoking and health case.
BUSINESS
October 19, 1988 | NANCY RIVERA BROOKS and JONATHAN PETERSON, Times Staff Writers
Facing a surprise takeover offer from Philip Morris Cos., Kraft saw its stock price leap $28.125 a share on Tuesday as Wall Street analysts predicted that the food company's days as an independent firm may be nearing an end. Meanwhile, Philip Morris Chairman Hamish Maxwell said he will vigorously pursue Kraft, an acquisition that would vault his firm, already the nation's largest consumer products firm, past Unilever, the Anglo-Dutch firm, to become the world's largest.
BUSINESS
July 9, 2004 | From Associated Press
Philip Morris International and the European Union have sealed a deal for the maker of Marlboro cigarettes to pay $1 billion to fight smuggling and counterfeits that are costing both sides hundreds of millions annually in lost taxes and sales, sources familiar with the matter said Thursday. Talks to end years of legal wrangling will conclude Friday with the signing of a cooperation agreement, one source familiar with the talks said.
BUSINESS
April 8, 2004 | Maura Dolan, Times Staff Writer
A state appeals court threw out a $21.7-million award against two tobacco giants Wednesday, ruling that a jury shouldn't have considered evidence of industry misconduct in a 10-year period during which cigarette makers were protected from litigation. The decision marked the first time a jury award had been overturned as a result of a California Supreme Court ruling in 2002 that determined the effect of previous legislative protections for the industry.
BUSINESS
March 11, 2004 | From Bloomberg News
The Justice Department may seek to force Altria Group's Philip Morris USA, R.J. Reynolds Tobacco Holdings Inc. and other cigarette makers to give up profits earned before 1970, a federal judge ruled Wednesday. Attorneys for the cigarette makers argued that the government shouldn't be able to use a 1970 racketeering statute to recover industry profits earned before the law was on the books. U.S.
BUSINESS
January 29, 2004 | From Bloomberg News
Altria Group Inc., parent of cigarette maker Philip Morris, said fourth-quarter earnings rose 18% after it reduced prices on Marlboro and other top sellers to win back smokers who had switched to cheaper brands. Net income climbed to $2.09 billion, or $1.02 a share, from $1.77 billion, or 85 cents, in the year-earlier period, the New York-based company said in a statement. Sales at Altria, which also owns Kraft Foods Inc., increased 10% to $20.7 billion from $18.8 billion.
BUSINESS
January 7, 2004 | From Bloomberg News
Philip Morris USA and R.J. Reynolds Tobacco Holdings Inc., the two largest U.S. cigarette makers, must face class-action lawsuits brought by Missouri smokers who claim they were misled about the health risks of "light" cigarettes, a state judge decided. Judge Michael David in St. Louis last week certified the two separate lawsuits, allowing the plaintiffs to represent thousands of other smokers.
BUSINESS
November 25, 2003 | From Associated Press
A New Hampshire jury ruled in favor of tobacco giant Philip Morris USA in the case of a woman who blamed Marlboros for the lung cancer that killed her husband. Philip Morris argued that Julien Longden of Manchester could have quit smoking, but chose not to do so. The company also said other factors could have caused the cancer. He died in 2000 and the suit was filed by his wife, Sheila Longden.
BUSINESS
March 4, 1998 | MYRON LEVIN, TIMES STAFF WRITER
Philip Morris Chairman Geoffrey C. Bible, continuing his testimony Tuesday in a big tobacco trial here, was confronted with a blizzard of internal company memos concerning the narcotic effects of smoking, including one document that compared nicotine to morphine and cocaine, and described cigarettes as "nicotine delivery devices" along with nicotine patches and gum.
BUSINESS
June 20, 1988 | GEORGE WHITE, Times Staff Writer
Philip Morris has long associated its leading product--Marlboro cigarettes--with the craggy cowboy who thrives in the Western frontier. Today--faced with restricted marketing in the United States, growing anti-smoking sentiment and declining domestic consumption--tobacco companies such as Philip Morris are turning increasingly to less restrictive commercial frontiers in Japan and Taiwan. As a result, the Marlboro man is beginning to round up larger sales in the Far East.
BUSINESS
September 17, 2003 | Brad Dorfman and David Bailey, Reuters
Philip Morris USA was handed a major victory Tuesday when the Illinois Supreme Court slashed almost in half a $12-billion bond required from the company pending an appeal of a critical verdict. The state high court also reversed its own earlier ruling and agreed to bypass the state appellate court and hear the appeal of a judge's $10.1-billion verdict against Philip Morris, which he found to have tricked smokers into thinking "light" cigarettes were safer than regular cigarettes.
BUSINESS
August 1, 2003 | Myron Levin, Times Staff Writer
After two resounding legal defeats in Los Angeles, tobacco giant Philip Morris USA scored a victory Thursday when an L.A. County Superior Court jury found the company not responsible for the lung cancer of a longtime smoker of its Marlboro and Benson & Hedges brands. Capping a seven-week trial, the jury rejected five of six claims by Fredric Reller, 64, of Marina del Rey: negligence, failure to warn, marketing a defective product and two counts of fraud.
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