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Article: 2nd-hand smoke clouds Miller, Kraft Units might have to pay part of any Philip Morris tobacco verdict
- Article from:
- The Milwaukee Journal Sentinel (Milwaukee, WI)
- Article date:
- October 31, 1999
- Author:
CopyrightCopyright 1999 The Milwaukee Journal Sentinel. Provided by ProQuest LLC. (Hide copyright information)
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With Philip Morris Cos. facing the prospect of paying billions of
dollars in tobacco litigation damages, one might suggest spinning off
its Kraft Foods Inc. and Miller Brewing Co. units.
After all, Kraft and Miller, which together have about 7,440
Wisconsin employees, have nothing to do with producing and selling
the cigarettes that are the subject of class-action lawsuits aimed at
their corporate parent. So why not shield the food and beer companies
from the prospect of having to help pay for the tobacco unit's
problems?
The answer, it seems, is the law doesn't allow Philip Morris to
protect Kraft and Miller from the possibility of taking a tobacco
litigation hit. A spinoff of those ...