Executive from Altria Group was on NPR today / Please think and don't invest in MO.
June 20, 2009
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Smoking tobacco kills. 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. They promote the use of this product which causes cancer and death. They directly are a cause of 400,000 deaths due to smoking. If I believed in heaven and hell, then I would believe that all tobacco executives would end up in hell for what the deaths which they have perpetuated.
Instead, these executives lie to the public and probably to themselves while receiving very nice compensations. In 2007, Mr. Parish received over $900,000 for salary and 2 million in stock options, with additional incentives and pension resulting in a yearly total over 12 million. This is on par with what the other senior executives make, though the CEO made nearly 25 million total. I guess at this level of compensation, it becomes easier to overlook all the death, damage, and pain that their leadership causes in the world.
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. Further, by reducing advertising from these companies, those that currently lead have a great advantage over smaller companies. Guess who leads the pack? Altria/Phillip Morris. While they play up the benevolent actions of their corporation in supporting this law, less publicized is the tremendous advantages this law will place their corporation in, effective building a moat that protects their market share forever in the US. There was no good will in the corporation's decision to support this bill.
CAPS blogs in general are very lacking in questioning what effects the corporations have in the world. 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.
-Rof