Wednesday, January 31, 2007

The Irony

The irony of cigarettes:

“Wall Street loves money. And cigarettes are money. You are clearly earning huge returns at the expense of people’s lives.”
-Michael D. Hausfeld, a lawyer in a pending class-action lawsuit against tobacco companies

* * *

“At times, as a tobacco investor or a tobacco analyst, it seems like an unending stream of negative news,” Mr. Adelman of Morgan Stanley said. “You hear about smoking bans, a new piece of legislation. You hear about criticism from the World Health Organization.

“And then lo and behold, manufacturers release their results,” he said. “And they are good.”
It's enough to make you sick.


09:54 CST - Addendum: Sadly, Altria's Board just approved the spin-off of Kraft. Wall Street will be even happier...

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