Advertisement
 
YOU ARE HERE: LAT HomeCollectionsPhilip Morris
IN THE NEWS

Philip Morris

BUSINESS
May 31, 2002 | Bloomberg News
South African Breweries agreed to buy Miller Brewing Co. from Philip Morris Cos., betting it can reverse more than two decades of declining market share at the second-largest U.S. brewer. South African Breweries will pay $3.6 billion in stock and assume $2 billion in debt to become the world's No. 2 beer maker. Shares of New York-based Philip Morris rose 57 cents to $56.58 on the NYSE.
Advertisement
BUSINESS
September 24, 2002 | Reuters
Philip Morris Cos., the world's largest cigarette maker, said it filed eight lawsuits aimed at stopping sellers of cigarettes via the Internet from using Philip Morris trademarks. The company said the suits also were aimed at stopping the sellers from illegally importing Philip Morris cigarettes into the United States. The suits were filed in federal courts in New York and California. Defendants include the owners or operators of Web sites including Cheapmarlboro.com, Europecigarettes.
BUSINESS
March 13, 1999 | From Reuters
R.J. Reynolds Tobacco Co., the nation's second-largest cigarette maker, Friday sued its chief rival, Philip Morris Cos., accusing it of attempting to monopolize the U.S. retail cigarette market. In a federal lawsuit filed here, R.J. Reynolds said Philip Morris, maker of the top-selling Marlboro brand, is trying to corner retail space for its cigarettes through exclusive contracts with retailers.
BUSINESS
May 2, 2002 | Reuters
A federal judge dismissed an antitrust lawsuit against Philip Morris Cos. by three cigarette makers, saying it is all right for retailers to give its brand prominence over rival products. The suit heard in U.S. District Court in North Carolina and brought by R.J. Reynolds, Lorillard Tobacco Co. and Brown & Williamson alleged Philip Morris U.S.A.'s retail merchandising program illegally interfered with the business dealings of retailers with other tobacco companies.
BUSINESS
February 4, 1999 | Reuters
Six cigarette vending machine companies filed a $100-million lawsuit against Philip Morris Cos. for alleged price discrimination in the sale of cigarettes. The suit claims that New York-based Philip Morris discriminates against the vending machine owners by giving rebates, buybacks and other promotional fees to other merchants that result in lower wholesale cigarette prices. The companies, which filed the suit in U.S.
BUSINESS
February 2, 2003
When I heard that Philip Morris had changed its name to Altria I thought it was such a non-descript word that I would never remember it ("Philip Morris Not Liable, Jury Rules," Jan. 28). Then I saw the accompanying logo that is supposed to represent all of the brands of products Philip Morris sells. I was instantly reminded of the scrambled, digitized photos you see on TV when they want to shield the true identity of someone, and I immediately understood. Now when I look at the name Altria and its logo, I will always remember that it is Philip Morris trying to shield its true identity from the public.
BUSINESS
October 17, 1999
I am deeply touched by Philip Morris' belated admission that people using their main products incur significant risk of health problems ["Philip Morris' New Campaign Echoes Medical Experts," Oct. 13]. Also very touching is the news--received via their TV advertisements--that they do all sorts of good things for the needy and abused women. In fact, I find myself wondering whether I should forget that a wife, sister and several friends might still be living had they known of what the tobacco companies had so tenaciously concealed and denied until this very moment.
BUSINESS
July 18, 1995 | From Associated Press
Philip Morris Cos. is reportedly seeking as much as $1 billion for most of its baking division, which includes Entenmann's cookies and cakes and Freihofer's breads. The food and tobacco conglomerate declined to comment on the report in the Wall Street Journal, which said final bids on the $1.2 billion in businesses up for sale are due in less than two weeks. But analysts who follow Philip Morris said a sale would fit with the company's recent resolve to shed low-margin businesses.
BUSINESS
July 11, 2002 | Associated Press
The federal government has reached an agreement with Philip Morris Cos. to protect retirement benefits for more than 9,500 workers at its subsidiary Miller Brewing Co., which is being sold to London-based South African Breweries. Miller Brewing's pension obligations are underfunded by about $150 million, the Pension Benefit Guaranty Corp. estimates. Philip Morris has agreed to make up the shortfall in case the money is needed to cover benefits promised to Miller Brewing workers and retirees.
BUSINESS
July 29, 2000 | Bloomberg News
Philip Morris Cos. is raising U.S. cigarette prices to distributors about 3% to boost profit and help pay for rising legal settlement costs. The wholesale price increase is 6 cents a pack and goes into effect Monday, the world's largest tobacco company said. It's the company's eighth increase in about 2 1/2 years, totaling more than $1 a pack. Analysts expect other U.S. cigarette makers to follow the move, which comes after a 13-cent-per-pack increase in January.
Los Angeles Times Articles
|