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Future Fund buys shares in shamed tobacco company

The Gov‘s billions dollar funds has bought shares in tobacco companies that gave a study about economic benefits of premature deaths. Docs provided in Senate committee increased its tobacco shares in last October reviewing investment strategy. The details reveal that in May last year the fund bought shares in Philip Morris (Czech). In 2001, Philip Morris was forced to apologies for a study commissioned by its international affiliate that found the Czech Republic benefited financially from the early deaths of smokers. The details show that in last May the funds bought shares in Philip Morris, producer of Chesterfield cigarettes and Marlboro cigarettes. . In 2001 Philip Morris apologized for studies made by international affiliate that found Czech Republic benefited financially. The purchase of shares interacts with environmental fund, governance policy and social policy. As we … Read entire article »

Filed under: Tobacco companies, Tobacco laws, Tobacco news

Employee contributions at Tobacco Company

A couple of local non-profit groups were among 11 lucky recipients who took part recently raised $ 172,000 about 550 employees of the company John Middleton. Representatives of the Greater Norristown Police Athletic League and the Laurel House were on hand to receive their checks at a ceremony on September 12 at the cigar manufacturer’s sprawling Limerick facility. PAL was awarded $ 6,000 for summer programs for high school youth activities in Norristown center. “We were notified two weeks in advance that we’re going to get a grant from the Fund for the employee and asked to be at the presentation in Limerick,” said Brett Wells, PAL director. “In this tough economy, I do not know how thick the competition was, but when all was said and done, we have received a grant … Read entire article »

Filed under: Tobacco companies

Renegade leaders of the tobacco company

Managers and staff of Renegade Holdings Inc. want the shedding of his legacy, and painted the name was so simple, like a snake shedding its skin. But after more than three and a half years in Chapter 11 bankruptcy protection, they know that only hard work, transparency, and some regulatory breaks will give them a chance to succeed, not the company owner, Calvin Phelps. Phelps is awaiting sentencing after pleading guilty in June of federal charges of fraud and making false statements and illegal financial transactions in the state of Mississippi. He could be sentenced to up to 43 years in prison. The goal is to get out of Renegade bankruptcy in early 2013 focused mainly on the filtered cigars, including an international sales contract, and taking their brands at a discount national. At … Read entire article »

Filed under: Tobacco companies

TOBACCO COMPANY MARKETING

From the 1950s to the present, different defendants, at different times and using different Methods, have intentionally marketed to young people under the age of twenty-one in order to recruit ‘replacement smokers’ to ensure the economic future of the tobacco industry The major well known tobacco companies now spend about $10.5 billion per year (nearly $29 million every day) to promote their cigarettes and other tobacco products; and many of their marketing efforts directly reach kids because to influence a child is easier than an adult person. In fact, tobacco company spending to market their tobacco products increased by 52 percent from 1998 to 2008 (the most recent year for which complete data is available). While the report found that cigarette marketing declined from $12.5 billion in 2006 to $9.9 billion, … Read entire article »

Filed under: Tobacco companies, Tobacco news