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Reynolds American Inc. (RAI) disclosed Monday that a congressional committee approved a $65 million tax refund, including interest. The Congressional Joint Committee on Taxation’s approval finalizes the Internal Revenue Service’s audit of Reynolds American’s tax returns for 1997 to 2000. According to Reynolds American, the refund will be recorded as an extraordinary gain in the
Read moreLane Limited (Lane), a manufacturer and marketer of specialty tobacco products and an operating subsidiary of Reynolds American Inc. (NYSE: RAI), has closed the sale of the assets related to its Dr. Grabow line of pipes and pipe filters, and Dill’s pipe cleaners, to International Pipes & Accessories LLC. The buyer has agreed to pay
Read moreTobacco companies, including Philip Morris USA and Reynolds American Inc., won an arbiter’s ruling that may allow them to reduce $1.2 billion in payments to states under a 1998 health care settlement. The Brattle Group, a consulting firm hired by the states and cigarette makers, ruled advertising restrictions imposed by the accord have been a
Read moreIgnoring warnings of lawsuits, two cigarette makers announced yesterday that they were withholding more than $750 million promised to Pennsylvania, New Jersey, and dozens of other states this year under the 1998 tobacco-settlement agreement. With the deadline for the $6 billion total annual payment passing yesterday, the attorneys general of Pennsylvania and New Jersey said
Read moreApril 25, 2006 – IAM President Tom Buffenbarger has announced two key personnel changes. IAM Associate Legal Counsel Mary McHugh will join the staff of the William W. Winpisinger Education and Technology Center and Grand Lodge Representative Bruce Olsson will be the new Assistant Legislative Director of the IAM’s Legislative and Political Action Department. “Mary
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