Saturday, July 10, 2004
Philip Morris "Donates" to European Union
Philp Morris is so upset by cigarette smuggling and counterfeiting into the EU that it decided to give Brussels $1.25 billion to try to do something about it. Not so coincidentally, the EU is abandoning its case against Philip Morris claiming that the cigarette manufacturer flooded their product into cheap (low-tax) cigarette jurisdictions, intending that the surplus stock would be smuggled. Philip Morris is also dropping its countersuit.
Sorry for the dearth of blogging -- I am still in Kiev, but if all goes well, I shall eventually return.