Philip Morris International 1Q profit rises
Higher selling prices helped boost cigarette maker Philip Morris International Inc.’s first-quarter profit 15 percent, but results missed expectations due to pressure from steep excise taxes in some countries, and the weak economy.
Tobacco regulations unfolding in Philip Morris’ favor
As President Obama and a credulous media continue to portray the administration’s economy-wide push for more regulation as a frontal attack on industry giants, the current wrangling over tobacco regulation shows how the opposite is true: Heightened government regulation tends to put big business in the driver’s seat, at the expense of the little guys. When Obama last June signed the Family Smoking Prevention and Tobacco Control Act, he declared, “Today, despite decades of lobbying and advertising by the tobacco industry, we’ve passed a law to help protect the next generation of Americans.” Sen
