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The risks of owning a tobacco stock are not insignificant. More litigation, higher excise taxes,[link widoczny dla zalogowanych], more government regulation, and dying customers don’t offer a welcoming environment. But the tobacco firms’ pricing power is outrageous, especially Altria’s and its Marlboro brand. Marlboro’s US market share is over 40% and the brand sells at a premium of more than 30% to lower cost cigarettes. Altria’s forward dividend yield is higher than any other, except Vector Group’s.
Vector introduced and still makes many discount cigarette brands. The company is smaller than the others we’ve looked at here, but its expected dividend yield is hard to ignore. Investors untroubled by sin can’t do much better than either Altria or Vector Group. Or is that,[link widoczny dla zalogowanych], can’t do much worse. Monday night, the Tribal Council voted to reiterate its protocol for outside law enforcement agents coming onto sovereign lands.
The Council passed a resolution reinforcing an existing policy that the Seneca marshals be contacted before any outside police agency comes onto the reservation for a non-emergency situation. In emergency situations, police should notify the marshals while they’re en route. The continuing debate is the latest development in a long history of conflict between the state and Indian tribes. “As far as they’re concerned,[link widoczny dla zalogowanych], things have been taken from them over and over again,” said Keith R. Burich, a Canisius College history professor.
The push to collect this tax is the latest example of how Native Americans have been treated,[link widoczny dla zalogowanych], said Burich, who teaches a course in Native American history. As evidence, Burich cited the construction of the Niagara Power Project in Lewiston and the Kinzua Dam in western Pennsylvania. In both cases, the government took Indian land for those projects, he said. “It’s not like it happened 250 years ago or 300 years ago. It’s happened in recent decades,” he said.
“It’s a matter of things being constantly taken from them.” The new legislation will permit the officers to impose fines in stead of taking the case through the courts,[link widoczny dla zalogowanych], Dr. Bloomfield stated. The maximum punishment for selling to a minor has been $2000, but courts have usually imposed a fine in the amount of $300 and $500. While details should be yet worked out,[link widoczny dla zalogowanych], the instant fines are expected to be implemented in the near future.
“Tobacco displays were used by tobacco manufacturers in order to attract more and more smokers, and taking these displays away would significantly improve public health. We have asked for many years to resolve this problem. This action will have a great effect on decreasing the number of smokers,[link widoczny dla zalogowanych],” Cancer Society Health Promotion manager Jan Pearson declared. Storekeepers’ safety and livelihoods had suffered from these changes. The Association of Convenience Stores that has a tobacco company representative on its board,[link widoczny dla zalogowanych], declared it could cost $50 million for New Zealand traders to change their stores.

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