Museado / NARA Collection wjc-dpc — Collection wjc-dpc
Recent Folios
Login Register
English (inglés) español magyar (húngaro) हिन्दी (hindi)

Survos folio page chat

Tobacco Industry [1]

Ask the Scholar

Page 13 of 53
I can add historical knowledge about this page.

Page image

Page 13

OCR

D6 NE CONT. THE NEW YORK TIMES, WEDNESDAY, Philip Morris New Chairman Nam Dividing the Ante To Pay Most Philip Morris said yesterday months of delit that it expected to contribute By REED ABELSON tees of the F about $6.5 billion to the Foundation, W Ofthe First tobacco industry's first pay- Edmund L. Jenkins, a retired man- oversees the F. ment of $10 billion under last aging partner for Arthur Andersen, ment, which V week's settlement agreement, was named yesterday as chairman only about a we Tobacco Bill with the cost to each compa- of the Financial Accounting Stand- chairman, De ny determined by its market ards Board, the seven-member leaves after se: capitalization. If yesterday's group responsible for establishing 10 years in the Continued From First Business Page closing prices are used, here the nation's accounting rules. Best known is how the $10 billion would As head of the F.A.S.B., which has, man of an inflt expected that RJR Nabisco, which is be divided among the five come under increasingly sharp at- financial report tack from the business community, Institute of Cert struggling to maintain a healthy tobacco companies. Mr. Jenkins, 62, will have the oppor- ants, Mr. Jenk credit rating, might feel some finan- cial effect from the settlement, they Brown & Williamson (B.A.T.) tunity to weigh in on a number of key three years ago $1.7 billion issues. The new chairman, whose cial statements said that Philip Morris would absorb five-year term begins July 1, will not investors and c the costs of the proposal quickly. only grapple with a series of narrow forward-looking "I think the impact on them will be but highly controversial accounting panies' prospe negligible," said Gary Black, a to- matters but will also lead the board's information ab bacco industry analyst with Sanford Philip efforts in examining its role in the nesses. C. Bernstein. "It's in their best inter- Morris larger context of financial reporting As chairman ests not to tout the deal too highly." and international standards. Jenkins will p Along with B.A.T Industries, which $6.5 "I think it's a very challenging job, role in helping is the parent company of the Brown billion without question, one that has not whether it shou & Williamson Tobacco Corporation, been easy for prior chairs to handle," in setting stan other tobacco producers participat- Mr. Jenkins said in a telephone inter- array of inforn ing in the proposed settlement in- view from his office in Chicago. "It's F.A.S.B.'s missi clude the Loews Corporation, the U.S. Tobacco (UST) a job that needs doing. Keeping accommodate t parent company of Lorillard Inc., standard setting in the private sector The F.A.S.B. and UST Inc., the parent of the Unit- $324 million is very important." into the debat ed States Tobacco Company. Lorillard (Loews) Mr. Jenkins's selection came after accounting st While a spokesman for Philip Mor- $720 million ris said that the company's share would be about $6.5 billion, Mr. Feld- R.J. Reynolds (RJR Nabisco) man, the analyst, said he estimated $571 million that it could reach $7 billion to $7.5 billion. Joe Helewicz, a spokesman Source: Bloomberg Financial Markets for Brown & Williamson, said that B.A.T Industries, which has about 15 The New York Times percent of the United States ciga- rette market, would pay $1.7 billion said that companies involved in the of the initial $10 billion payment. talks clashed over matters such as The remainder of the initial pay- how to divide the initial payment ment will be paid by Loews, UST and because RJR Nabisco and other other chewing tobacco companies companies feared that Philip Morris that join the settlement, Mr. Feld- would use its greater financial man said. strength to gain a competitive ad- Several people close to the talks vantage from the settlement. Attorneys General Defend Landmark Tobacco Pact "You've got to keep this thing in By JAMES BROOKE perspective," continued Mr. Woods, a member of the negotiating team. GRAND TETON NATIONAL "This is the biggest public health and PARK, Wyo., June 24 - With a land- corporate settlement in the history of mark tobacco settlement coming un- this country." der increasing criticism as too le- Although the 68-page tobacco pact nient on cigarette companies, state would impose restraints and penal- attorneys general today offered a ties on the tobacco industry that spirited defense of the pact they would have been unimaginable only

Page data

Page
13
Source index
0
Type
photo
Media ID
2a7d51537da9fb21
Size
unknown

Document data

ID
26413565
Core
doc
Type
document
DTO data 
{
    "id": "26413565",
    "sourceUrl": "https://catalog.archives.gov/id/26413565",
    "contentType": "document",
    "title": "Tobacco Industry [1]",
    "citationUrl": "https://catalog.archives.gov/id/26413565",
    "collections": [
        "Records of the Domestic Policy Council (Clinton Administration)",
        "Bruce Reed's Tobacco Files"
    ],
    "iiifBase": "https://s3.amazonaws.com/NARAprodstorage/opastorage/live/65/4135/26413565/content/presidential-libraries/clinton/foia/2011-0299-S-Tobacco/2011-0299-S-Tobacco-JPG/Box_267/42-t-7367462-20110299S-267-010-2015/42_t_7367462_20110299S_267_010_2015_Page_001.JPG",
    "thumbnailUrl": "https://s3.amazonaws.com/NARAprodstorage/opastorage/live/65/4135/26413565/content/presidential-libraries/clinton/foia/2011-0299-S-Tobacco/2011-0299-S-Tobacco-JPG/Box_267/42-t-7367462-20110299S-267-010-2015/42_t_7367462_20110299S_267_010_2015_Page_001.JPG",
    "largeImageUrl": "https://s3.amazonaws.com/NARAprodstorage/opastorage/live/65/4135/26413565/content/presidential-libraries/clinton/foia/2011-0299-S-Tobacco/2011-0299-S-Tobacco-JPG/Box_267/42-t-7367462-20110299S-267-010-2015/42_t_7367462_20110299S_267_010_2015_Page_001.JPG",
    "imageCount": 53,
    "hasImages": true,
    "source": "import",
    "hasTranscription": false
}

Context sent to Scholar

Document identity 
{
    "localId": "26413565",
    "label": "Tobacco Industry [1]",
    "core": "doc",
    "dtoType": "document",
    "citationUrl": "https://catalog.archives.gov/id/26413565"
}
Document source metadata 
{
    "id": "26413565",
    "sourceUrl": "https://catalog.archives.gov/id/26413565",
    "contentType": "document",
    "title": "Tobacco Industry [1]",
    "citationUrl": "https://catalog.archives.gov/id/26413565",
    "collections": [
        "Records of the Domestic Policy Council (Clinton Administration)",
        "Bruce Reed's Tobacco Files"
    ],
    "iiifBase": "https://s3.amazonaws.com/NARAprodstorage/opastorage/live/65/4135/26413565/content/presidential-libraries/clinton/foia/2011-0299-S-Tobacco/2011-0299-S-Tobacco-JPG/Box_267/42-t-7367462-20110299S-267-010-2015/42_t_7367462_20110299S_267_010_2015_Page_001.JPG",
    "thumbnailUrl": "https://s3.amazonaws.com/NARAprodstorage/opastorage/live/65/4135/26413565/content/presidential-libraries/clinton/foia/2011-0299-S-Tobacco/2011-0299-S-Tobacco-JPG/Box_267/42-t-7367462-20110299S-267-010-2015/42_t_7367462_20110299S_267_010_2015_Page_001.JPG",
    "largeImageUrl": "https://s3.amazonaws.com/NARAprodstorage/opastorage/live/65/4135/26413565/content/presidential-libraries/clinton/foia/2011-0299-S-Tobacco/2011-0299-S-Tobacco-JPG/Box_267/42-t-7367462-20110299S-267-010-2015/42_t_7367462_20110299S_267_010_2015_Page_001.JPG",
    "imageCount": 53,
    "hasImages": true,
    "source": "import",
    "hasTranscription": false
}
Document source extras 
{
    "url": "https://catalog.archives.gov/id/26413565",
    "naId": 26413565,
    "levelOfDescription": "fileUnit",
    "otherTitles": [
        "42-t-7367462-20110299S-267-010-2015"
    ],
    "recordType": "description",
    "ocrSource": "nara-archive"
}
Page context 
{
    "seq": 13,
    "pageIndex": 0,
    "type": "photo",
    "url": "https://s3.amazonaws.com/NARAprodstorage/opastorage/live/65/4135/26413565/content/presidential-libraries/clinton/foia/2011-0299-S-Tobacco/2011-0299-S-Tobacco-JPG/Box_267/42-t-7367462-20110299S-267-010-2015/42_t_7367462_20110299S_267_010_2015_Page_013.JPG",
    "mediaId": "2a7d51537da9fb21",
    "ocrText": "D6\nNE\nCONT.\nTHE NEW YORK TIMES, WEDNESDAY,\nPhilip Morris\nNew Chairman Nam\nDividing the Ante\nTo Pay Most\nPhilip Morris said yesterday\nmonths of delit\nthat it expected to contribute\nBy REED ABELSON\ntees of the F\nabout $6.5 billion to the\nFoundation, W\nOfthe First\ntobacco industry's first pay-\nEdmund L. Jenkins, a retired man-\noversees the F.\nment of $10 billion under last\naging partner for Arthur Andersen,\nment, which V\nweek's settlement agreement,\nwas named yesterday as chairman\nonly about a we\nTobacco Bill\nwith the cost to each compa-\nof the Financial Accounting Stand-\nchairman, De\nny determined by its market\nards Board, the seven-member\nleaves after se:\ncapitalization. If yesterday's\ngroup responsible for establishing\n10 years in the\nContinued From First Business Page\nclosing prices are used, here\nthe nation's accounting rules.\nBest known\nis how the $10 billion would\nAs head of the F.A.S.B., which has,\nman of an inflt\nexpected that RJR Nabisco, which is\nbe divided among the five\ncome under increasingly sharp at-\nfinancial report\ntack from the business community,\nInstitute of Cert\nstruggling to maintain a healthy\ntobacco companies.\nMr. Jenkins, 62, will have the oppor-\nants, Mr. Jenk\ncredit rating, might feel some finan-\ncial effect from the settlement, they\nBrown & Williamson (B.A.T.)\ntunity to weigh in on a number of key\nthree years ago\n$1.7 billion\nissues. The new chairman, whose\ncial statements\nsaid that Philip Morris would absorb\nfive-year term begins July 1, will not\ninvestors and c\nthe costs of the proposal quickly.\nonly grapple with a series of narrow\nforward-looking\n\"I think the impact on them will be\nbut highly controversial accounting\npanies' prospe\nnegligible,\" said Gary Black, a to-\nmatters but will also lead the board's\ninformation ab\nbacco industry analyst with Sanford\nPhilip\nefforts in examining its role in the\nnesses.\nC. Bernstein. \"It's in their best inter-\nMorris\nlarger context of financial reporting\nAs chairman\nests not to tout the deal too highly.\"\nand international standards.\nJenkins will p\nAlong with B.A.T Industries, which\n$6.5\n\"I think it's a very challenging job,\nrole in helping\nis the parent company of the Brown\nbillion\nwithout question, one that has not\nwhether it shou\n& Williamson Tobacco Corporation,\nbeen easy for prior chairs to handle,\"\nin setting stan\nother tobacco producers participat-\nMr. Jenkins said in a telephone inter-\narray of inforn\ning in the proposed settlement in-\nview from his office in Chicago. \"It's\nF.A.S.B.'s missi\nclude the Loews Corporation, the\nU.S. Tobacco (UST)\na job that needs doing. Keeping\naccommodate t\nparent company of Lorillard Inc.,\nstandard setting in the private sector\nThe F.A.S.B.\nand UST Inc., the parent of the Unit-\n$324 million\nis very important.\"\ninto the debat\ned States Tobacco Company.\nLorillard (Loews)\nMr. Jenkins's selection came after\naccounting st\nWhile a spokesman for Philip Mor-\n$720 million\nris said that the company's share\nwould be about $6.5 billion, Mr. Feld-\nR.J. Reynolds (RJR Nabisco)\nman, the analyst, said he estimated\n$571 million\nthat it could reach $7 billion to $7.5\nbillion. Joe Helewicz, a spokesman\nSource: Bloomberg Financial Markets\nfor Brown & Williamson, said that\nB.A.T Industries, which has about 15\nThe New York Times\npercent of the United States ciga-\nrette market, would pay $1.7 billion\nsaid that companies involved in the\nof the initial $10 billion payment.\ntalks clashed over matters such as\nThe remainder of the initial pay-\nhow to divide the initial payment\nment will be paid by Loews, UST and\nbecause RJR Nabisco and other\nother chewing tobacco companies\ncompanies feared that Philip Morris\nthat join the settlement, Mr. Feld-\nwould use its greater financial\nman said.\nstrength to gain a competitive ad-\nSeveral people close to the talks\nvantage from the settlement.\nAttorneys General Defend\nLandmark Tobacco Pact\n\"You've got to keep this thing in\nBy JAMES BROOKE\nperspective,\" continued Mr. Woods,\na member of the negotiating team.\nGRAND TETON NATIONAL\n\"This is the biggest public health and\nPARK, Wyo., June 24 - With a land-\ncorporate settlement in the history of\nmark tobacco settlement coming un-\nthis country.\"\nder increasing criticism as too le-\nAlthough the 68-page tobacco pact\nnient on cigarette companies, state\nwould impose restraints and penal-\nattorneys general today offered a\nties on the tobacco industry that\nspirited defense of the pact they\nwould have been unimaginable only"
}