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Agreed, his job is done. Now they are going to name a director specialized in government appeals and regulations.
No one else could possibly replace him, other than a 35% shareholder Altria executive?
Convenient.
There is Definitely a Lot of Moving Pieces at play here.
And to Make Things even more Complex, consider this...
Or maybe......
Exactly. Speculation by us both. Still doesn't dampen my uneasy feeling of why an Altria personnel is now taking the reigns.
Exactly. Speculation by us both. Still doesn't dampen my uneasy feeling of why an Altria personnel is now taking the reigns.
It's interesting to note that Kevin Burns title at Altria, before taking this position at juul was "Chief Growth Officer". Not that this matters at all, but I did find it an amusing detail.
Vape-orized: Philip Morris, Altria End Merger Talks As Juul CEO Quits
I smell a write-off. Related link ...
Altria Tumbles To 5 Year Low As Mystery Vaping Disease Cases Rise To 530
“After much deliberation, the companies have agreed to focus on launching IQOS in the U.S. as part of their mutual interest to achieve a smoke-free future,” Philip Morris Chief Executive Officer André Calantzopoulos said Wednesday in a statement, referring to his company’s heat-not-burn device.
As the FT adds, "a person familiar with the situation said that PMI decided to walk away from the deal after it became apparent that the US government crackdown on vaping would make the merger less attractive."
Separately, we were almost right in our sarcastic comment from yesterday, the the criminal probe at Juul and sudden crackdown will cost the Altria CEO his job over last year's $13 billion invesrment in Juul.
The resignation news follow a Tuesday report that Juul would restructure and cut back its staff as state, federal and international health regulators pull its fruit flavored pods off store shelves as U.S. amid a public health crisis; as part of the overhaul, the company is eliminating some of its 3,900 employees, slowing hiring and reviewing its current job postings, according to a person familiar with the matter, who declined to be identified because the decision hasn’t been made public.
As the FT adds, "a person familiar with the situation said that PMI decided to walk away from the deal after it became apparent that the US government crackdown on vaping would make the merger less attractive."
Separately, we were almost right in our sarcastic comment from yesterday, the the criminal probe at Juul and sudden crackdown will cost the Altria CEO his job over last year's $13 billion invesrment in Juul.
The resignation news follow a Tuesday report that Juul would restructure and cut back its staff as state, federal and international health regulators pull its fruit flavored pods off store shelves as U.S. amid a public health crisis; as part of the overhaul, the company is eliminating some of its 3,900 employees, slowing hiring and reviewing its current job postings, according to a person familiar with the matter, who declined to be identified because the decision hasn’t been made public.
I smell a write-off. Related link ...
Altria Tumbles To 5 Year Low As Mystery Vaping Disease Cases Rise To 530
Juul Replaces Its C.E.O. With a Tobacco Executive
Dr. David Kessler, a former commissioner of the Food and Drug Administration, said that in light of the epidemic of youth vaping, he doubted that any e-cigarette company could now prove that the benefits of its products outweighed the risks — a critical factor to win agency approval to stay on the market in the United States.
“In some ways the last several years has provided a record where it’s hard to see that these products could ever meet the ‘protection of public health standard,’” Dr. Kessler said. “And if they can’t meet that standard, they can’t be marketed.”
Testifying at a congressional hearing on Wednesday, the acting F.D.A. commissioner, Dr. Ned Sharpless, appeared to echo that sentiment
All of this foreshadows a regulatory showdown at the F.D.A. that is slated to begin in May next year when the agency will determine what, if any, e-cigarettes can remain on the domestic market.
Ms. Miller from Sandhill Strategy said. “The people they’re asking, the F.D.A., have shown these products are killing people.”
Analysts said it was increasingly likely that Altria might have to write down the value of its $12.8 billion investment in Juul, given the recent developments and uncertainty surrounding the company.
“When the Juul transaction was done, it valued the company at around $37 billion,” said Garrett Nelson, an analyst at CFRA Research. “Juul’s valuation today is probably a fraction of that.”
Meanwhile, Altria’s debt levels more than doubled as it borrowed to buy the Juul stake, he noted.
“In some ways the last several years has provided a record where it’s hard to see that these products could ever meet the ‘protection of public health standard,’” Dr. Kessler said. “And if they can’t meet that standard, they can’t be marketed.”
Testifying at a congressional hearing on Wednesday, the acting F.D.A. commissioner, Dr. Ned Sharpless, appeared to echo that sentiment
All of this foreshadows a regulatory showdown at the F.D.A. that is slated to begin in May next year when the agency will determine what, if any, e-cigarettes can remain on the domestic market.
Ms. Miller from Sandhill Strategy said. “The people they’re asking, the F.D.A., have shown these products are killing people.”
Analysts said it was increasingly likely that Altria might have to write down the value of its $12.8 billion investment in Juul, given the recent developments and uncertainty surrounding the company.
“When the Juul transaction was done, it valued the company at around $37 billion,” said Garrett Nelson, an analyst at CFRA Research. “Juul’s valuation today is probably a fraction of that.”
Meanwhile, Altria’s debt levels more than doubled as it borrowed to buy the Juul stake, he noted.
Put Down That Juul: Jim Cramer on Altria, Juul and the Impeachment Inquiry
"Take your lumps and move on"
"Take your lumps and move on"
I had been toying with the idea of putting in a stink-bid at $39.50. I'm kinda regretting I didn't, but apparently a fair number of other people had the same idea.
I had been toying with the idea of putting in a stink-bid at $39.50. I'm kinda regretting I didn't, but apparently a fair number of other people had the same idea.
They have Historically paid a Good Dividend. Especially when compared to a Low Prime Rate economy.
http://investor.altria.com/Dividend-Information
Not sure how much weight to put on Altria's Dividend History as we go forward? Because so much is Unknown.
But One Thing is Known. Cigarettes seem to Not be effected by things like Teen Smoking Epidemics. Or Bans because they "may" have some Health Risks.
LOL
Kick the Habit: Altria Group Likely to See Share Value Further Vape-orized
MO is in a downtrend with $35 as the next price target and possible support area. Avoid.
Short-term target of technicians is $35. Long-term targets are even lower. Good luck.
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