States Come to Rescue Philip Morris, Sort Of
By George Anderson
In an action that certainly qualifies under the strange but true category, attorney generals from 37 states filed a friend of the court brief yesterday seeking to reduce the bond Philip Morris USA must post to appeal a verdict that found the company guilty of deceiving consumers about the risks associated with smoking light cigarettes.
Reuters reports states have asked the Madison Country (IL) Circuit Court “to set an appeal bond that does not interfere with the states’ vital interests.” The states are counting on a $2.5 billion payment from Philip Morris due next week.
Moderator’s Comment: How will the loss of tobacco settlement/tax
dollars impact government and how will that eventually affect retail businesses?
The lesson here is: Be careful what you wish for. It may
just come true. The reality of governing without the budgetary support of big
tobacco is finally hitting home. [George
Anderson – Moderator]