Romney, Tobacco and Kids

Somehow no surprise: Mitt Romney’s Bain Helped Philip Morris Get U.S. High Schoolers Hooked On Cigarettes,

When Mitt Romney served as CEO of Bain & Co., his consulting firm helped tobacco giant Philip Morris develop a groundbreaking sales strategy that researchers say has been linked to an unprecedented spike in youth smoking.
… Philip Morris stunned Wall Street and tobacco experts by the slashing price on its flagship Marlboro brand by 40 cents a pack, to $1.80. It was a landmark day for the tobacco industry, one that became known as “Marlboro Friday” to public health experts.
… A year later, Philip Morris stock had fully recovered, and continued to make steady gains over the coming four years. Marlboro Friday ultimately proved to be the tobacco industry’s most successful effort to increase domestic profit in the face of heavier regulations.
The profit was the result of soaring sales that coincided with an unprecedented jump in smoking among high school- aged youth. The Centers for Disease Control and Prevention’s Youth Risk Behavior Survey, found that the portion of young people who had smoked at least one cigarette in the previous month rose nearly 20 percent from 1993 to 1997. Youth smoking increased in all categories from that occasional user to the regular user.

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