The whole settlement is going to hurt the industry in terms of profitability, ... But multiples should improve, and this is basically why the industry is trying to settle. There has been a big cloud overhanging the industry for more than a decade now.

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I think the industry gave in quite a bit. The [tobacco company] CEOs were very interested and very pressured into getting a settlement done. They were perfectly willing to pay the extra $60 billion if necessary.

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He has instilled a new, aggressive nature in the company.

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