RJR Nabisco

So the defendant in that case has to be a US person.

And I think that limit is trying to get at exactly what you're talking about, which is, you know, RJR Nabisco expresses this concern that we don't want to willy-nilly be allowing lawsuits in the United States for foreign conduct without some indication that Congress knew what it was doing.

And here we have that indication in spades.

and also Congress was sensitive to these concerns.

It was applied in September against the Swiss food manufacturing company Nestle.

According to the website of a JT overseas subsidiary, business operations in Russia began after JT acquired in 1999 the business operations of RJR Nabisco Inc. outside the United States.

In 2007, JT was the leading cigarette company in Russia.

Its predecessor was Japan Tobacco and Salt Public Corporation, and the government still owns about one-third of the shares of JT.

It was applied in September against the Swiss food manufacturing company Nestle.

According to the website of a JT overseas subsidiary, business operations in Russia began after JT acquired in 1999 the business operations of RJR Nabisco Inc. outside the United States.

In 2007, JT was the leading cigarette company in Russia.

Its predecessor was Japan Tobacco and Salt Public Corporation, and the government still owns about one-third of the shares of JT.

Many do.

Our other major portfolio change last year was large additions to our holdings of RJR Nabisco bonds, securities that we first bought in late 1989.

At year-end 1990, we had $440 million invested in these securities, an amount that approximated market value.

As I write this, however, their market value has risen by more than $150 million.

The only time to buy these is on a day with no why in it.

We are, however, willing to look at the field now that it is in disarray.

In the case of RJR Nabisco, we feel the company's credit is considerably better than was generally perceived for a while, and that the yield we receive, as well as the potential for capital gain, more than compensates for the risk we incur, though that is far from nil.

RJR has made asset sales at favorable prices, has added major amounts of equity, and in general is being run well.

He was a Hokie through and through.

Doug started his career at Del Monte Foods, worked at RJR Nabisco, eventually finding his way to Equifax, which then spun out the company Choice Point.

I met part of the team at Equifax when I was still at Accenture as a business management consultant and then eventually joined the team after they spun out to create the Choice Point standalone company.

publicly traded company.

which is a fantastic accounting of how the wealth was generated in the world and how we grew, how GDP exploded through the Industrial Revolution and how trade, this globalization piece, helped facilitate growth and prosperity.

Barbarians at the Gate, that was just a fun book to read about RJR Nabisco.

Okay, so I read the book Moneyball, also Michael Lewis, but I thought I particularly liked the movie.

I thought it was a really interesting movie that makes those concepts of how the market is incorrectly pricing something, how it makes that relatable in an everyday kind of way.