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executive summary for research paper
Executive Summary The tobacco industry has been around for many years dating back to the 19th century. W. Duke and Sons was one of the earliest cigarette companies and was started in 1881. When cigarettes were first produced, they were blends of Turkish leaf and bright tobacco and could only be made by a trained cigarette maker at a rate of four cigarettes per minute. A man by the name of James Bonsack developed a cigarette making machine that could make 120,000 cigarettes a day. In 1890 the American Tobacco Company was founded and controlled 90% of the nations cigarette manufacturing, but in 1911 the Supreme Court ruled that they violated the Sherman Anti-Trust Act and forced the company to break up. From this break up the Big Four emerged and included R.J. Reynolds, Ligget and Myers, Lorillard, and American. During this time period, slow tobacco markets were a large problem. Things got to the point that the Interstate Tobacco Growers Protection Association threatened to hold all of the tobacco until the price demands were met. When World War one came, the demand for tobacco went up drastically, but after the war prices went back down. The tobacco industry would start to face many problems so changes had to be made to help deal with the problems. Advertising come on to the scene and proved to be very important to the industry. One very popular form of advertising used by American Tobacco Company was the use of baseball cards. Also slogans were adopted such as "I'd walk a mile for a camel". Figures such as Camel Joe and Marlboro Man also came into play. One of the biggest challenges the cigarette industry has faced has been the link of cigarettes to lung cancer and other diseases. In hopes of elimating the harmful effects of cigarettes companies introduced new filtered cigarettes that would try to eliminate some of the harmful effects. In lieu of this new health concern, the surgeon general ordered warnings be placed on all cigarette boxes, informing people of the dangers of cigarette smoking. Presently, companies are promoting ad campaigns to inform and prevent people from smoking. The tobacco industry is a very competitive industry despite having only a few key players. Phillip-Morris is by far the worlds leading tobacco distributor and paid $4.5b in taxes last year and is the largest single taxpayer in the country. The market values of RJ Reynolds, American Brands, and Loews Corp. are very similar. This similar market value allows then the ability to easily take over another company and increase their market value. The tobacco industry also competes with the government and the public at times. For example, no longer legal avertising in sports such as Nascar which tobacco companies were major sponsors. The only competition U.S. tobacco companies face globally is the United Kingdom. Three of the major five companies are located there. Technology has also started to be a problem for tobacco companies and created competition. Contraband companies exist that sell counterfeit cigarettes over the internet and gain major profits. Ligitmate cigarette distributors are now beginning to sell cigarettes online to keep up with the importance of internet shopping. Genetically engineered tobacco plants have also come into play that are more health friendly to smokers. The tobacco industry has a very large impact on the economy. The industry produces jobs in manufacturing and farming. The tobacco industry also spends up to $6b on advertising, while the government spends $250m a year to counteract tobacco adervertising with anti-tobacco advertising. While the tobacco industry raises a large $11b in tax funds, it does not come close to paying for the government Medicare payments to cover tobacco-related illness. Tax- payers pay $16b for Medicare. The Gross Domestic Product for the tobacco industry is $21.1b. To give you an idea on how much a tobacco company makes; In 2001 Phillip Morris' sales were $89,927m.
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