Health Effects of Tobacco Use No tobacco product is safe
As discussed in this fiscal note, the City and the broader market has never been able to effectively forecast revenues or material events in the tobacco market and the TSASC credit has been subject to a suspension of issuance and two restructurings, neither of which has been successful in holding off projected default
As fiduciaries we need to make a decision, with respect to the options laid out before us, on an economic basis. It wasnt immediately clear how long it would take for CalPERS and its outside managers to unload the securities, but its likely to take at least several months
Crosby 1972
But these symbolic efforts, which I hoped would be adopted and expanded by public health, medical, and nursing organizations, academia, and philanthropic foundations, accomplished little, and I begrudgingly came to admire the dynamism and resilience of Philip Morris