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MGTC45-Lecture 3

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University of Toronto Scarborough
Management (MGS)
Andrew Stark

MGTC45-Lecture 3 September 27, 2012 Continuation of Tobacco Case  The government said they would not regulate tobacco as drugs until 2009, the companies agreed to pay up billions of dollars in return  The initial errors of estimating the total costs, created a more favourable situation (the 368 billion dollars is much less than 386 billion dollars) o Made both side happier on both sides  The deal did fall apart, because the deal was negotiated with the AG and the federal government still had to approve it  The feds thought the tobacco companies have done too well  Newt Gingrich, people who wanted a deal too badly, knew that it was good for them  Sometimes when the other side is too enthusiastically involved, they might be getting a better deal than you originally have thought  Congress did not approve the tobacco deal, instead made its own deal  Would place no cap on class action lawsuit, applied tax on each packet sold, asked for 500 billion instead of 368 billion  It was that, there could no longer be that an animal can be depicted on their packets  It was the poor who could not afford the increase of price  If you are a lefty you don’t mind the increase of the tax because you don’t like tobacco, however the bulk of your voting community is in the income bracket that can’t afford the price increase  Another tactic they can use is to identify another person to take blame as well (alcohol)  25% more years of life is lost to alcohol more than smoking  Drinking has some advantages but not smoking  Alcohol lobbyists were not going to take this claim sitting down  People on the right think alcohol as sinful and that is against what they believe  They are more likely to be opposed to alcohol  It was a blunder for tobacco to
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