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Philip Morris Cos

BUSINESS
November 9, 1989 | From Times wire services
Philip Morris Cos. agreed today to sell its 29% stake in Rothmans International PLC to a Swiss holding company for a payment of sterling notes valued at approximately $860 million. The seller is to receive five-year notes from Compagnie Financiere Richemont AG, which holds a 36% position in Rothmans, in a transaction that Philip Morris said will result in a pretax gain of $450 million when completed.
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BUSINESS
July 13, 1997
For years I've been critical of the HMO/managed-care philosophy. It seemed to be a sure-fire loser for the individual consumer to pit health care against an institutionalized profit motive. However, even I didn't think that a major HMO, Kaiser Permanente, would be so greedy as to invest in the tobacco industry ("Kaiser Getting Rid of Tobacco Investments," June 26). Just because Kaiser is not violating any law by investing in Philip Morris Cos. does not excuse Kaiser's conduct. Words like hypocritical, irresponsible and amoral come to mind to describe Kaiser's callousness.
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