Reviled by many as a “merchant of death,” Philip Morris International, the world’s leading tobaccocompany, is a darling of investors who love its cash-generating, profit-making, stock-appreciatingpotential. Above all, investors love PMI’s unique “pricing power,” the key driver of its earnings.This love affair may be drawing to a bitter end. An industry insider who has revealed an internationalcartel operated by the world’s largest tobacco companies claims that PMI’s astonishing profit-makingmachine is powered by illegal price-fixing. PMI’s customers are paying inflated prices for theirMarlboros; PMI’s public shareholders, fooled by the “pricing power” myth, are paying inflated pricesfor their stock; and PMI’s senior management are laughing all the way to the bank in their Ferraris.This is the first in a series of explosive revelations about the multinational tobacco industry and itsleader PMI that will be published on this site. Welcome to SmokinGate.
Download PDF : Smokingate2