Jump to full article: Motley Fool, 2009-06-20
Author: rofgile
Intro: This blog is in response to an interview on NPR this morning with a former executive Steve Parish of Phillip Morris (Now Altria).
In this interview with Mr. Parish, he talked about how Phillip Morris went from fighting the FDA, to supporting moving American tobacco industries under FDA regulation. Stating that its been an increasingly difficult environment for the companies to fight regulation, the most important thing to him and Phillip Morris was reducing the damage and deaths caused by smoking.
The interviewer failed to call him out on this statement, which is nothing but falsehoods.
If the tobacco companies really wanted to reduce deaths by smoking, they wouldn't go for incremental and slow regulations - they would simply close down their businesses. Their product causes cancer and death. . . .
Instead, these executives lie to the public and probably to themselves while receiving very nice compensations. In 2007, Mr. Parish received over $900,000 . . .
The truth about the FDA bill which recently passed is that it also directly limits market competition in the US from tobacco companies. While current tobacco companies that sell in the US are grandfathered in, no new tobacco companies will be allowed to sell in the US. . . .
It should be very clear that Altria/Phillip Morris is a company that has very detrimental effects on the world and society. Back when the recession started, many Fool members up-thumbed this corporation as a recession proof industry that is a great safe haven. I found this both disturbing and sad. These are not corporations that people should support, rather we should be working to end corporations such as this. When you or a family member dies of a smoking related disease - don't look back and have regrets that your money helped support this corporation.
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