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    Well, there are a lot of issues on the table from digesting UST. Primarily, 2009 will be fairly flat because of the recession, perhaps some increased taxation, and laying off of redundant UST employees. MO will probably look pretty good in 2010, when they have achieved full synergy with UST and Middleton (the cigar company).

    No advertising expense, a concentrated product line (with the exception of their wine company), and nice investment in SAB Miller, high markup, stupendous cash flow...I don't find a lot to dislike.
    Jan 30 09:17 am |Rating: +9 0 |Link to Comment
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