Bonnie Herzog Quotations

We're not convinced that the major manufacturers will succeed in getting the $1 billion ...but this battle could lead to another settlement (and) an ironclad partnership between the states and tobacco manufacturers.

Molson Coors' third-quarter results were driven primarily by a very favorable effective tax rate of 6.4 percent. Consolidated volume was basically flat and net sales were up 0.3 percent.

Our trade contacts indicate Reynolds American has already developed a product and will enter the market with Camel, possibly in conjunction with the Daytona 500 in mid-February.

We continue to believe the probability is very low that either Philip Morris or Reynolds American buys UST.

We would not be surprised if this battle leads to some form of another settlement which could result in an even more ironclad partnership between the states and tobacco manufacturers.

We increasingly believe (Reynolds American) will be entering the smokeless market at the Daytona 500 this Sunday. Our trade contacts indicate (Reynolds American) has developed a product and will enter the market with Camel.

We expect these lines will be successful since they are appealing to consumers' desire for more exotic flavors.

We think North American trends are solid and expect Europe to be much improved in 2006.

Coke needs to prove that it can string two successful years together.

This is just the beginning for Philip Morris, and depending on the success of this new product ... we expect the company to organically launch a full range of other smokeless tobacco products.

I'd rather have this thing filed sooner rather than later so we can deal with it.

The concern was with $3 billion, the flood gates were open. This helps to alleviate some of that concern.