http://www.thestreet.com/_yahoo/markets/marketfeatures/10046089.html <I> <B>Jury Orders Philip Morris to Pay $28 Billion to Smoker</B> A jury ordered Philip Morris (MO:NYSE - news - commentary - research - analysis) Friday to pay $28 billion to a woman with lung cancer who accused the company of failing to warn her of the dangers of smoking. The report sent tobacco stocks down sharply. Shares of Philip Morris fell $2.40, or 6.1%, to $37.16 on the news. Meanwhile, R.J. Reynolds (RJR:NYSE - news - commentary - research - analysis) shed $2.26, or 5.9%, or $36.20, Loews Group (LTR:NYSE - news - commentary - research - analysis) sunk $2.30, or 5.5%, to $39.69, and British-American Tobacco (BTI:NYSE - news - commentary - research - analysis) shed 14 cents, or 0.7%, to $20.45. Philip Morris has said it will appeal the verdict, saying it is "inconsistent" with the evidence and law. In a statement, Philip Morris said that the jury's punitive damage award was "33,000 times greater than the compensatory damage award, well in excess of the four-to-one ratio the United States Supreme Court has suggested approaches the constitutional limits of such awards." The Los Angeles jury deliberated for less than two days before reaching a verdict. A week ago, the same jury awarded $850,000 in compensatory damages to the California woman, Betty Bullock. "This jury should have focused on what the plaintiffs knew about the health risks of smoking, and whether anything the company ever said or did improperly influenced her decision," said William S. Ohlemeyer, vice president and general counsel for Philip Morris. "Instead, it appears that this decision speaks to more general policy issues regarding smoking that can't fairly be decided in lawsuits like this." </I> Perhaps it's time to start smoking!
This is rediculous. I'm not a smoker, and I agree that Tobacco companies should be held accountable....but 28 BILLION???
Yeah, let's settle now for a pre-payment of $6 Million and call it a day... save everyone the trouble of a nasty lawsuit.
hmmm...tobacco companies...fast food companies... Dammit, I'm running out of health problems to sue over... I got it! I'll go the rest of my life without brushing my teeth, then sue candy companies for rotting my teeth away! If somebody with lung cancer can get $28 billion, I'm sure I can get AT LEAST 5 or 10 million for my teeth... Pure genius...
Are you a smoker? Well, then, you stink. No, really. You smell awful. That recycled smoke smell that comes out of a smoker's mouth-- I'd rather suck Abe Vigoda's colon than smell that.
You guys dogging out Abe Vigoda's colon have obviously never tried deep fried Abe Vigoda's colon. While a little on the gamey side, it is delicious when dipped in a tangy honey mustard sauce.
I have a feeling this will be held in in appeals court for years and the lady may end of settling for pennies on the dollar, which still wouldnt be to bad. I cannot fathom this type of verdict, how can a person smoke and not know it is damaging to your health. It`s these types of lawsuits and verdits that make people question our judicial system.
I happen to know that Abe Vigoda's colon is stuffed with oatmeal. When I first got to NY I was waiting tables on the Upper East Side, and he used to come in and order oatmeal and milk everytime. Although he kinda acted like a nursing home patient dribbling it out of his mouth...
It's unfortunate that the woman is probably using the system to get what she wants, but I think you still need to look at the bottom line. The tobacco companies lied. And lot's of smokers believed them. My smoking father used to say all the time, "Where's the evidence." And he's a relatively bright guy. Deep down he knew the truth, but he still preached it. "Where's the evidence." It's poor logic, but that's a reason for all these smokers to keep smoking. And that leads to addiction, it leads to disease, it leads to lung cancer. and addiction is a disease. It's not a choice. I think the tobacco industry should be sued until it can no longer exist. The Tobacco States will find something else to produce. It's time for this nonsense to end.
The only people that don't know that smoking is bad for you are the unborn...and even then I could be wrong. Jury award=Mass stupidity
Are you saying they lied because because up until a few years ago they did not put the Surgeon Generals message on the side of the pack? Do you think McDonalds should have a warning on there product also saying "Caution this food could clog your arteries or make you fat" I would be curious to know if she stopped smoking once the "warning" was put on the pack of smokes.........anyone know when they started doing this?
These two things contradict each other. First you say he 'chose' to keep smoking because they did not admit it was bad (even though he knew it was bad). Then you say 'it is not a choice.' Those two things cannot both be true. So if it is the addiction that keeps people from quitting, what difference would an earlier admission of possible harm have made? According to you, none. So what difference does the lie make? According to you the lie is the reason they should be sued out of existence. Yet also according to you if they had told the truth people would still smoke. Your logic is worse than the logic in your example.
We can't run tobacco companies out of business. You see, Post cereal is a subsidiary of Kraft, which in turn is a subsidiary of Phillip Morris, and I'll be DAMNED if my Fruity Pebbles gets taken away! Just let the tobacco companies keep raising their prices on cigarettes. It hasn't stopped smokers from buying cigarettes yet...
I've been smokin since I was 15...20 years of stupidity on my part...and the warning have been on the package since at least the early 80's that I can remember... As for the lie part, they have claimed that there was no scientific proof that smokin caused cancer in the 50's thru the 70's...but nobody with a brain believed em..How can inhaling smoke into your lungs be good for you?? Before someone calls me out on this...yes, I'm stupid..I still smoke..but I know what it does, and I know it's MY responsibility for what happens to me..God willing, I will be able to quit one day( hopefully before Im dead) but it aint easy, and I just dont have the will power to do it without some help..which aint cheap.. oh well..thats life
Are you saying they lied because because up until a few years ago they did not put the Surgeon Generals message on the side of the pack? Do you think McDonalds should have a warning on there product also saying "Caution this food could clog your arteries or make you fat" I would be curious to know if she stopped smoking once the "warning" was put on the pack of smokes.........anyone know when they started doing this? Watch <I>The Insider</I> for more information on what they did, but it has nothing do with the warnings. They basically lied, I believe, to Congress and to the public and said they had no research that smoking caused harm when in fact they did have that type of research. They basically committed fraud. Yeah, let's settle now for a pre-payment of $6 Million and call it a day... save everyone the trouble of a nasty lawsuit. This would be cool. Perhaps I should sue for pre-emptive damages. I will agree to accept $6MM now and promise not to sue them for $28 billion down the road.
I'm not contradicting myself. Addictions require dual diagnosis. That means you need pschological and physical help. They go hand in hand. It's not an either or thing. Psychologically they had no reason seek help because their was no evdience of a problem. It's easy to deny a problem when the tobacco industry pretends to have research saying their isn't one.
