Business Services Industry
Tobacco Companies in Talks to Settle Lawsuits by States.(Originated from The Boston Globe)
Knight Ridder/Tribune Business News, April, 1997 by Flint, Anthony
Apr. 17--Executives from the nation's major tobacco companies are trying to strike a deal in which they would pay a $300 billion settlement and bid farewell to the Marlboro Man and Joe Camel, in exchange for protection against future lawsuits and further government regulation.
The talks, which have been conducted in secret at a hotel in Falls Church, Va., mark the first time top executives of Philip Morris Cos. and RJR Nabisco Holdings Corp. have attended such discussions. That marks a major turnaround in the industry's no-retreat, no-surrender policy. Some analysts said the attempt for a deal faced long odds.
The deal under discussion, reported yesterday in The Wall Street Journal, would include a self-imposed ban on billboards and using...
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