http://www.tobacco.org/newsfeed/org/lorillard.rss Latest top tobacco news headlines en-us http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/10-14-2008/0004903234&EDATE= http://tobacco.org/news/272516.html A conference call for analysts and investors will begin at 10:00 am Eastern Time on October 27, 2008 which will be hosted by Martin L. Orlowsky, Chairman, President and Chief Executive Officer, and David H. Taylor, Executive Vice President, Finance and Planning and Chief Financial Officer. Investors can participate in the conference call by dialing (888) 713-4209 (domestic) or (617) 213-4863 (international). The passcode for this event is: 48507488. PR Newswire Tue, 14 Oct 2008 04:00:00 GMT http://www2.journalnow.com/content/2008/oct/10/175-million-write-down-reflects-status-of-kool/ http://tobacco.org/news/272365.html Reynolds American Inc. said yesterday that it is taking its largest write-down on a trademark in years with a noncash charge of $175 million related to its Kool cigarette brand. The charge was taken in the third quarter, Reynolds said. It will release its third-quarter earnings report Oct. 22. The charge is part of Reynolds' strategy, announced on Sept. 9, to move Kool from a growth brand to a support brand and put most of its marketing emphasis on Camel. Reynolds said that the decision to de-emphasize Kool "triggered an analysis of the trademark value," as required by corporate accounting rules. . . . Reynolds also has cumulatively written down the value of Doral by $203 million since 2004, as well as Winston by $186 million, Salem by $111 million, and a variety of Conwood brands by $32 million. Kool has not contributed to revenue or earnings growth for some time, said Peter Tourtellot, the managing director of Anderson Bauman Tourtellot Vos & Co., a turnaround-management company in Greensboro. . . . Analysts have speculated for a month that Reynolds may be de-emphasizing Kool as part of preparing a bid for Lorillard Tobacco Co. of Greensboro to buy Lorillard's top-selling Newport menthol brand. Winston-Salem Journal rcraver@wsjournal.com (Richard Craver * Journal Reporter ) Fri, 10 Oct 2008 04:00:00 GMT http://www.washingtonpost.com/wp-dyn/content/article/2008/10/08/AR2008100801168.html http://tobacco.org/news/272151.html Jim Barrow is investing defensively at Vanguard Selected Value (symbol VASVX). "The consumer is under a great deal of pressure," says Barrow, whose firm runs about three-fourths of the fund's assets. He expects the consumer-related companies in his portion of the fund, such as discounter Family Dollar Stores and tobacco firms Lorillard and Reynolds American, to hold up regardless of economic conditions. The Washington Post Wed, 08 Oct 2008 04:00:00 GMT http://www.guardian.co.uk/business/feedarticle/7800967 http://tobacco.org/news/271209.html Swedish Match, the last independent smokeless tobacco group, may attract a bid from a cigarette maker after Altria's bid for UST is set to make the United States snuff market more competitive. While cigarette smoking in the mature markets of western Europe and the United States is declining, snuff consumption is rising in the U.S. driven by the perception it is not as harmful as cigarettes, prompting two takeovers in the last two years. . . . With the two biggest snuff makers in the U.S. market being bought by big tobacco groups, the third -- Swedish Match -- may be next. Some analysts tip the third-largest U.S. cigarette maker Lorillard Inc, which unlike some potential buyers already has a large distribution network in the country, as a front-runner. "I think that Lorillard could want to buy Swedish Match. Reuters Tue, 16 Sep 2008 04:00:00 GMT http://hosted.ap.org/dynamic/stories/A/ALTRIA_UST?SITE=WSAW&SECTION=HOME&TEMPLATE=DEFAULT http://tobacco.org/news/270930.html Observers say Lorillard, which was spun off from Loews Corp. in June, could be next on the list of potential targets. "It's going to put pressure on everybody else to consolidate," said Sachin Shah, an analyst with iCap Equities. Shah said tobacco leaf producer Universal Corp. and Vector Group Ltd. could also be potential targets. AP Mon, 08 Sep 2008 04:00:00 GMT http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aUN.6yAuUKB8 http://tobacco.org/news/270753.html Altria Group Inc.'s pursuit of snuff maker UST Inc. may mean that Lorillard Inc., the manufacturer of Newport menthol cigarettes, is the next target as the U.S. tobacco industry consolidates. A UST acquisition might compel Reynolds American Inc., the second-largest U.S. tobacco company, to bid for the Greensboro, North Carolina-based cigarette manufacturer, said Nik Modi, an analyst at UBS Securities LLC, and investor Matthew Kaufler. Lorillard, with a market value of $12.9 billion, climbed 6.4 percent yesterday in New York trading. Altria, the maker of the top-selling Marlboros, may offer at least $10 billion, or $68 a share, for UST, the producer of top-selling Skoal and Copenhagen snuff, people with knowledge of the talks said. Shrinking sales in the $70 billion U.S. cigarette industry may force companies to combine, while waning legal risk may attract international suitors. Investors ``are sniffing out the next deal in tobacco,' . . . Waning legal risk after U.S. tobacco makers prevailed in three multibillion-dollar lawsuits may draw overseas producers to the U.S. Bloomberg News Sat, 06 Sep 2008 04:00:00 GMT http://www.nytimes.com/2008/08/31/weekinreview/31saul.html?_r=1&scp=1&sq=cigarette&st=nyt&oref=slogin http://tobacco.org/news/270515.html In HBO’s series “The Wire,” the charismatic thug Omar Little took a bullet to the brain while buying a pack of Newport cigarettes. If Mr. Little had completed the transaction before falling dead to the grungy floor of a corner grocery, he would have paid 39 cents in federal taxes and a Maryland state tax of $2 per pack. And those taxes are one reason a ban on menthol cigarettes is unlikely. Mr. Little’s brand, Newport, is the leading menthol brand and the cigarette of choice among many African-Americans. . . . The decision to exempt menthol from the flavoring ban may appear illogical until you dissect the economics of cigarettes and their impact on government. A growing reliance by the states and federal government on cigarette taxes — as well as a popular proposal to increase federal taxes by 61 cents to an even $1 per pack to finance the State Children’s Health Insurance Program, S-chip — provide a sort of insurance policy for the continued survival of menthol cigarettes. . . . Unless menthol smokers switched to other types of cigarettes, a menthol ban would cut nearly a third of the tax revenues for states and federal governments. . . . Mr. Orlowsky’s vehemence on the subject is not surprising. A ban on menthol could deliver a mortal blow to Lorillard, obviously a problem for its investors and employees, but, not quite so obviously, a problem for state governments. Lorillard’s share of the tobacco settlement payments to states for last year was nearly $894 million. . . . New York Times Sun, 31 Aug 2008 04:00:00 GMT http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/08-26-2008/0004873369&EDATE= http://tobacco.org/news/270374.html The Times rejected the letter without a sufficient explanation, reinforcing its unwillingness to present opposing viewpoints to its readers. By doing so, The Times has failed to provide a balanced and fair view of an important issue where an honest review would advance the debate. . . . Dear Editor: Your editorial, "Smooth and Dangerous," (August 14, 2008), more appropriately characterizes the concerted effort being undertaken to target the companies that manufacture and market menthol cigarettes. It is simply the latest example of a sophisticated campaign by paternalistic moralists to take away a smoker's choice to smoke menthol cigarettes, or to smoke at all, without regard for the facts or for sound science. It is all the more dangerous because it portends the demise of individual choice. It comes as no surprise that your paper advocates the regulation of the tobacco industry by the Food and Drug Administration. . . . The fact is that the science does not support these claims. Bottom line, and in your own words, "The [scientific] evidence [for the harmful effects of menthol] so far is not conclusive." You admit that recent scientific studies "have found no significant difference in the risk of disease for smokers who use mentholated cigarettes and those who don't," yet you nonetheless advocate for a ban on menthol. Your attack on menthol is nothing more than an opportunity to gain your ultimate end, the prohibition of all tobacco products and the establishment of a tobacco free society. That is the reason you are using the menthol issue to inflame passions along racial divides, and are making accusatory statements without foundation. Whether to impose Prohibition on cigarettes is a debate that we welcome, but it is a debate that needs to be waged on facts and science. It is a debate that should be settled without inflammatory and accusatory rhetoric. Editorials like yours only fan the flames of racism and do not move the cause forward. The American people deserve to understand that if the anti-tobacco establishment convinces Congress to first ban menthol and eventually outlaw all tobacco, other powerful groups will follow to impose their idea of what is good for us to eat, drink and think. Congress should realize that those who support a ban on menthol and the unworkable regulation of tobacco that is currently being considered are really just looking to further their real agenda, and it won't stop with tobacco. --Martin L. Orlowsky Chairman, President & Chief Executive Officer Lorillard, Inc. PR Newswire Tue, 26 Aug 2008 04:00:00 GMT http://gawker.com/5039944/tobacco-ceo-tells-truth-about-cigarette-ads http://tobacco.org/news/270279.html "The truth is that Lorillard markets its Newport brand cigarettes to adult smokers of all ethnicities," writes Lorillard CEO Martin Orlowsky to the Chicago Tribune today. . . . Lorillard doesn't have to market disproportionately to African-Americans, because the market share of menthols in the black community is already massive. Look at Orlowsky's own math: The truth is that there are twice as many Caucasian menthol cigarette smokers as there are African-American menthol cigarette smokers. African-Americans are about 13% of the US population. Whites are about 74%. There are roughly six times more whites than blacks in the US, but only two times more white menthol smokers. Disparity? Duh. . . . Newport cigarettes contain menthol, which may make them less harsh-tasting and easier for experimenting teens to smoke, Gerlach and colleagues say. They also suggest that expanded advertising campaigns may have helped increase the brand’s popularity. Nobody has to target underage smokers. Target 18-year-old smokers! Their kid brothers will totally pick it up. Gawker Thu, 21 Aug 2008 04:00:00 GMT http://www.chicagotribune.com/news/nationworld/chi-0821vplettersbriefs0aug21,0,4119937.story http://tobacco.org/news/270277.html Your story "Blacks seen as targets of menthol; Exemption for additive troubles many critics" (Page 1, Aug. 13) mischaracterizes the facts regarding the marketing of menthol cigarettes. It is but one more example of a coordinated effort by paternalistic moralists through the media who neither know the facts or the science about menthol in cigarettes nor care to learn them. This campaign is seeking to take away a smoker's choice to smoke menthol cigarettes, or to smoke at all. It is a blatant effort to impose a politically correct agenda on the American public with the unfortunate assistance of the media. . . . The truth is that Lorillard markets its Newport brand cigarettes to adult smokers of all ethnicities. The truth is that our marketing is not disproportionately directed to African-Americans. The truth is that we do not target underage smokers. The truth is that there are twice as many Caucasian menthol cigarette smokers as there are African-American menthol cigarette smokers. I challenge those who want to prove otherwise to come forward with evidence to support their charges. . . . . Chicago Tribune Thu, 21 Aug 2008 04:00:00 GMT http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/08-21-2008/0004871097&EDATE= http://tobacco.org/news/270260.html Lorillard, Inc. (NYSE: LO) announced today the declaration of a quarterly dividend on its common stock, in the amount of $0.92 per share, payable September 12, 2008 to stockholders of record as of September 2, 2008. PR Newswire Thu, 21 Aug 2008 04:00:00 GMT http://www.cqpolitics.com/wmspage.cfm?docID=news-000002938163&cpage=2 http://tobacco.org/news/270143.html Sen. Richard M. Burr , R-N.C., has promised to drag out debate, offer amendments, and do whatever he can to ensure “a full and lengthy debate and lengthy amendment process,” should the bill (HR 1108) come to the floor. . . . In addition to his threats to run out the clock and offer amendments, he was waged a more public campaign to argue that the FDA is not the proper venue for tobacco regulation. Burr has previously argued that cigarette content might more logically be regulated by the Centers for Disease Control and Prevention, and packaging and labeling might be placed under the purview of the Federal Trade Commission. . . . “You can’t represent North Carolina and say regulation of tobacco is not important,” said Burr, when questioned about the reasons for his opposition to the bill. “I haven’t opposed regulation of tobacco, I’ve just opposed putting it at the FDA,” he added. Burr said the state’s tobacco industry “is not as dominant a manufacturing base as it once was.” . . . Neither company has given large donations directly to Burr’s campaign, but have instead sent contributions to his leadership committee, the Next Century Fund. Reynolds’ political action committee gave $10,000 in the current election cycle, and Lorillard $5,000, according to data from CQ MoneyLine. Congressional Quarterly Thu, 14 Aug 2008 04:00:00 GMT http://www.nytimes.com/2008/08/14/washington/14lobby.html?_r=1&scp=4&sq=tobacco&st=nyt&oref=slogin http://tobacco.org/news/270011.html One of the biggest lobbyist-donors was Ed Rogers, a Republican insider who worked in the White House for President Ronald Reagan and the first President Bush. He reported giving a total of $59,100, almost all of it to Republicans. Mr. Rogers said his goal was to "max out" in support of Mr. McCain. He gave $2,300 to the McCain campaign and $37,500 to the McCain Victory Committee, a joint fund-raising effort by the campaign and the Republican National Committee. Mr. Rogers lobbies for diverse clients, including the Lorillard Tobacco Company, Raytheon and the Kurdistan Regional Government. Senator Maria Cantwell of Washington was the only Democrat who received money from Mr. Rogers. He said Michael Meehan, a member of his firm, "made me give" to Ms. Cantwell. New York Times Thu, 14 Aug 2008 04:00:00 GMT http://investors.lorillard.com/phoenix.zhtml?c=134955&p=irol-newsArticle&ID=1179884&highlight= http://tobacco.org/news/269496.html "We are pleased to report our first quarter as an independent public company," said Martin Orlowsky, Chairman, President and CEO, Lorillard, Inc. "We look forward to a continuation of our core strategy of balancing profitability and Newport share growth. Our leading position in the menthol segment and our focus on operational excellence will support our on-going commitment to long-term success and enhanced shareholder value. Our recent announcement of a $400 million share repurchase authorization is a demonstration of our interest in furthering shareholder value as part of our overall strategy." Lorillard Tobacco Company Mon, 28 Jul 2008 04:00:00 GMT http://investors.lorillard.com/phoenix.zhtml?c=134955&p=irol-newsArticle&ID=1181625&highlight= http://tobacco.org/news/269495.html The Company also said that while it fully supports reasonable federal regulation of the tobacco industry, that the FDA is already overburdened and is the wrong agency to carry out this enormous task. The Company also said that it welcomes the provision in this bill that calls for a scientific review of menthol in cigarettes. While the scientific studies to date do not support a conclusion that menthol cigarettes are more hazardous or addictive than non-menthol cigarettes, the Energy and Commerce Committee noted the importance of ensuring the FDA has the "scientific evidence necessary to make the best decision to protect the public health" for all cigarette additives and constituents. Lorillard agrees that a proper scientific review based on "sound information and scientific evidence and data," as the Energy and Commerce Committee report states, with involvement by all interested parties as required under federal rulemaking procedures, will be informative in addressing the questions that are being raised about menthol cigarettes. The Company said the current challenges facing FDA are well documented. It believes that the addition of a new multi-billion dollar a year industry for the FDA to oversee, when the agency is already struggling to fulfill its core mission, is misguided. The Company said that it is understandable why 82 percent of those surveyed in a February 2008 Zogby poll say they are concerned that regulating tobacco would interfere with FDA's principal mission to oversee pharmaceutical drugs and the nation's food supply. . . . The Company believes the FDA is overburdened and the wrong agency to regulate tobacco -- and looks to the Senate for its leadership to find an effective regulatory solution. Lorillard Tobacco Company mrobinson@levick.com Wed, 30 Jul 2008 04:00:00 GMT