Newport Schools receive
Lorillard’s largest competitors — Altria Group Inc. and Reynolds American Inc., which reported earnings last week — also beat Wall Street estimates for the second quarter.Altria, owner of the nation’s biggest cigarette maker, Philip Morris USA, which makes Marlboros for the American market, said its profit rose 9 percent as it cut costs and integrated a recently acquired smokeless tobacco maker. Revenue grew 33 percent to $6.72 billion from $5.05 billion largely on higher prices that included the new federal tax.Reynolds — the second-biggest cigarette seller in the U.S., with brands such as Camel and Pall Mall — reported Thursday that its second-quarter profit climbed 4 percent because it raised prices and cut costs as sales volumes slipped and the tax hike took hold.
Lorillard, the oldest continuously operating U.S. tobacco company, said its earnings per share were helped by having fewer shares outstanding after it bought back shares in August 2008 and May 2009. On Monday, it announced an additional repurchase program of up to $750 million of its stock.AP Business Writer Michelle Chapman in New York contributed to this report.Jodie Bullock, whose mother, Betty Bullock, died in February 2003, sued the cigarette maker in 2001, accusing the company of product liability and fraud. Her lawsuit has been on a legal roller coaster for years.
In 2002, jurors recommended that Philip
ed hardy Morris pay $28 billion in punitive damages, a record-setting amount that later was reduced by a judge to $28 million. Then, in 2008, an appeals court reversed the jury’s award and sent the case back for a new trial on punitive damages, which the cigarette company argued was excessive as a matter of law.The jury’s award for Philip Morris to pay Bullock
cheap nba jerseys $850,000 for compensatory damages, pain, and suffering remains in place. Only the punitive damages award was disputed.A new jury now has set the punitive damages award for Bullock at $13.8 million, but Philip Morris is vowing again to fight an amount it sees as excessive and “patently unreasonable.”
Richmond, Va.-based Altria Group Inc., which owns
wow gold Philip Morris, said any amount given to Bullock’s daughter is unwarranted.With the new allotment of funds, the Newport Special School District has developed a work plan to most effectively spend the dollars. Their plans for this funding year include assembling a “Youth Extinguishing Smoking” team on each campus whose purpose will be to reduce youth access to and
Newport Cigarettes consumption of tobacco and tobacco-related products; provide classroom instruction to students, faculty, and community members regarding the effects of tobacco on the body as well as proven ways to help them to quit smoking; utilize guest speakers to share personal testimonies on how tobacco negatively influenced their health and lives; expand the existing partnership with Stamp Out Smoking and the Coalition for a Tobacco Free Arkansas to help provide cessation resources and to increase local awareness of the negative effects of tobacco use.
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