Debate and Issues Index

draft settlement

Proposal protects tobacco industry

Tobacco stock analysts and public health advocates agree that the tobacco industry's proposal to state Attorneys General would protect tobacco companies. Here is what some have recently said about the proposal.
''It would definitely be a good thing for the companies,''
  • Mary Aronson, tobacco litigation analyst, USA Today 11/16/98
"It means relief from the most aggressive and perhaps the most threatening category of cases against the industry,"
  • Martin Feldman, tobacco industry analyst, MS NBC 11/16/98
"You are basically eliminating the largest litigation risks that depress valuations of tobacco stocks."
  • Gary Black, analyst with Sanford C. Bernstein & Co. , Newsday 11/16/98
''It's a short-term victory, but there's a lot more to come.''
  • Jack Maxwell, securities analyst with Davenport & Co, USA Today 11/16/98
"It is not a settlement, it is a partnership agreement between the tobacco companies and the attorneys general that allows Big Tobacco to continue its nefarious business as usual,''
  • John Garrison, CEO of the American Lung Association, Reuters 11/16/98
''The deal would leave the Marlboro Man in the saddle and the tobacco companies in the driver's seat,''
  • Jeffrey Barg, president of Coalition for a Tobacco-Free Pennsylvania, Cincinnati Post 11/17/98
"sweetheart deal" that "would let the industry get off cheap, enable the companies to keep secret many of the incriminating documents, interfere with local enforcement actions and suits against Big Tobacco and tie the hands of future attorneys general."
  • Ralph Nader, consumer advocate, Cincinnati Post 11/17/98
"terrible for taxpayers and not good for public health."
Bill Godshall, executive director of SmokeFree Pennsylvania, Washington Post 11/14/98
"I think this is a very bad deal for California,''
  • Stan Glantz, health advocate, San Francisco Chronicle 11/17/98
''It's going to be written in history as a triumph of PR,''
  • Richard Daynard, chairman of the Tobacco Products Liability Project at Northeastern University School of Law , USA Today 11/16/98