Anti-nicotine, pay proposals defeated at Altria meeting

Source: Richmond Times-Dispatch

Six stockholder proposals, including one on executive pay and another on removing nicotine from tobacco products, were defeated today at Altria Group Inc.'s annual shareholders' meeting in Richmond.

The proposal to give shareholders more say on executive pay was defeated with 53 percent of votes cast in opposition..

Other proposals by tobacco-control activists were voted down by much wider margins, including the move to have the company remove the addictive substance nicotine from any of its future tobacco brands, which 96 percent of the votes cast opposed.

Altria shareholders also defeated a proposal to have the company disclose all of its political contributions semi-annually.

Read more: http://www.timesdispatch.com/rtd/business/local/article/TOBAGAT20_20090519-120606/268625/

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Altria is the re-brand of Phillip Morris

A perfectly legal addictive drug. Ah, profit.