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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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CALIFORNIA | LOCAL
February 9, 2008 | Richard C. Paddock, Times Staff Writer
Here's a recipe for academic controversy: First, find dozens of hard-core teenage smokers as young as 14 and study their brains with high-tech scans. Second, feed vervet monkeys liquid nicotine and then kill at least six of them to examine their brains. Third, accept $6 million from tobacco giant Philip Morris to pay for it all. Fourth, cloak the project in unusual secrecy.
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NEWS
April 3, 1996 | SHERYL STOLBERG, TIMES STAFF WRITER
For Ian Uydess, the moment of truth came in front of the television set. It was a Sunday night in February and a whistle-blowing scientist named Jeffrey Wigand was revealing dark secrets about the nation's cigarette business. Uydess knew those same secrets. A former cancer researcher, he had been lured to Philip Morris USA in 1977 with the promise that he could help engineer a safer cigarette.
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.
ENTERTAINMENT
March 25, 1994 | JANE HALL, TIMES STAFF WRITER
Philip Morris Companies Inc. filed a $10-billion lawsuit against ABC Thursday, accusing the TV network of libel in an investigation of the cigarette industry on its prime-time newsmagazine "Day One." In a two-part series on cigarettes that aired in February and March, "Day One" said that the tobacco company "artificially spiked" cigarettes with nicotine "in order to keep people smoking."
NEWS
June 26, 1997 | JULIE MARQUIS, TIMES STAFF WRITER
Kaiser Permanente, the nation's largest health maintenance organization, over the past six months has been ridding itself of a potentially controversial investment of $5 million in bonds sold by tobacco giant Philip Morris Companies Inc., a Kaiser official said Wednesday. Divestment of the bonds, which will be complete today, was "purely for financial considerations," Kaiser spokeswoman Beverly Hayon said.
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.
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.
CALIFORNIA | LOCAL
February 9, 2008 | Richard C. Paddock, Times Staff Writer
Here's a recipe for academic controversy: First, find dozens of hard-core teenage smokers as young as 14 and study their brains with high-tech scans. Second, feed vervet monkeys liquid nicotine and then kill at least six of them to examine their brains. Third, accept $6 million from tobacco giant Philip Morris to pay for it all. Fourth, cloak the project in unusual secrecy.
BUSINESS
April 3, 1993 | SCOT J. PALTROW, TIMES STAFF WRITER
Responding to trouble in Marlboro Country, Philip Morris shocked Wall Street and the tobacco industry Friday with word that it will begin deeply discounting the nation's leading cigarette brand. Announcement of the move, which will cut an estimated 40% this year from the company's U.S. tobacco earnings, sent Philip Morris' stock plunging $14.75 to $49.375 and helped trigger a 68.63 drop in the Dow Jones industrial average. Philip Morris is one of the 30 stocks used to calculate the average.
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.
NEWS
November 23, 2004 | Charles Duhigg
HARLEY BATES is steaming. He pushes past the off-duty cop standing in front of his ranch and charges the reporter and photographer. "Get the hell off my land!" he says. "Sir, I'm a reporter ... " "You're scaring people taking their pictures as they drive in!" A quarter of a mile away, the roof of a school bus crowns a small hill. Through a telephoto lens, tiny figures mill about. The reporter and photographer take turns looking for wisps of cigarette smoke.
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.
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.
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.
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