Good news for Big tobacco.
$1 billion annual boost: Big Tobacco breathing easier
Excerpts:
“The expiration of the tobacco Transition Payment Program has bolstered the bottom line of Big tobacco after years of tax increases and declines in smoking,
The annual savings equal about 2.4% of the U.S. tobacco industry’s annual revenue — or about 9.9% of its profit — based on industry figures provided by research firm IBISWorld.”
…….
“Marty Barrington, CEO of Altria Group, hinted this year that the largest U.S. tobacco manufacturer would use the cash to bolster its online strategy and improve its position in the e-cigarette market, among other things.”
$1 billion annual boost: Big Tobacco breathing easier
Excerpts:
“The expiration of the tobacco Transition Payment Program has bolstered the bottom line of Big tobacco after years of tax increases and declines in smoking,
The annual savings equal about 2.4% of the U.S. tobacco industry’s annual revenue — or about 9.9% of its profit — based on industry figures provided by research firm IBISWorld.”
…….
“Marty Barrington, CEO of Altria Group, hinted this year that the largest U.S. tobacco manufacturer would use the cash to bolster its online strategy and improve its position in the e-cigarette market, among other things.”