Tobacco verdict unlikely to faze investors

Article Abstract:

The $145-billion penalty levied by a Florida jury on the tobacco industry is not expected to cause any concern to the industry's investors. The verdict, released on Jul 14, 2000, is the biggest punitive damge ever to be awarded in the history of US jurisprudence. However, analysts are of the opinion that the huge award, which will be appealed by the industry, will never be paid by the tobacco industry.

Legal issues & crime, Cigarettes, Cigarette Manufacturing

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Big bills give shocking lessons in electric deregulation

Article Abstract:

A 100% increase in the monthly bills charged by San Diego Gas & Electric (SDG&E) between May and Jul 2000, as well as 30% hike in the price of electricity in New York City, have sent politicians protesting over the ill effects of electric deregulation. Twenty-five US states have already deregulated their electricity markets, hoping it would improve service and lower costs. On the other hand, a spokesman for SDG&E said the utility is merely passing along to the customer the price of energy in a free market. He added that customers may delay paying half of their bills until the following month.

Government regulation (cont), Electric Utilities, Electric Power Generation, Transmission and Distribution

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Scudder Kemper buys securities at $6M loss to aid investors

Article Abstract:

Scudder Kemper Investments posted a loss of $6 million when it bought shares of struggling Southern California Edison from its mutual fund investors, according to documents submitted by the company to the SEC. The company's move was meant to bail out investors and ultimately shift the risk to Scudder. Scudder paid $15 million for the California utility's shares, or about $6 million higher than its market value. A spokeswoman for Scudder declined to comment about the report, saying the company does not discuss individual transactions.

Investment Companies, Open-End Investment Funds, Financial reports, Scudder Kemper Investments

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