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147 Comments
- robertisaar, on 06/07/2009, -3/+112you know, in any other situation this would be considered conflict of interest, but whatever...
- samsmartjr, on 06/07/2009, -8/+115You know, the more I learn about the world, the more I don't mind it ending...
- solboldi, on 06/07/2009, -1/+94Tobacco contains essential vitamins and minerals.
- Lucas123, on 06/07/2009, -3/+70A symbiotic relationship.
- fitzfan, on 06/08/2009, -2/+62This a so misleading that it is comical.
Prudential has an asset management subsidiary that obviously holds stocks from every sector of the economy. With 500 billion in assets under management, clearly they will own some tobacco companies.
Even without the asset management business, insurers in every category (not just life insurance) collect the premiums and then invest the money until it is has to be paid out. They diversify these investments so they should own stocks from every category. Or they invest it in index funds that hold tobacco companies.
P.S. Both of these companies are Life Insurers, not Health Insurers. - BassMastr, on 06/08/2009, -3/+41Just about anyone who has mutual funds probably owns Tobacco stocks.
- tgc1, on 06/08/2009, -1/+35I think you mean PEOPLE. The world is fine, it's the people that suck.
- ddawggin, on 06/08/2009, -1/+34Does anybody understand how insurance companies work?
- Jehutes, on 06/08/2009, -2/+33No, the insurance companies make their money by charging their smoking clients a lot more than the average person
- Neiliosullivan, on 06/08/2009, -1/+31You sir are just a punk troll.
- ThatsNotPudding, on 06/07/2009, -3/+30Hypocrisy: smoke it if you got it.
- redcolumbine, on 06/08/2009, -2/+29The ultimate hedge fund. Long profits, short humanity.
- Lewie, on 06/08/2009, -2/+23Higher risk, higher premiums? Sell them the poison, and then the cure at inflated rates.
It's not like they're going to run out of people to insure anyway. - rancemo, on 06/08/2009, -0/+20"Tobacco is my favorite vegetable" -Frank Zappa
- Swivelstick, on 06/08/2009, -0/+19Yes, if it gets to expensive they refuse treatments.
- robbob, on 06/08/2009, -0/+19Hedging their bets
- Nintendesert, on 06/08/2009, -3/+21Not on Digg.
- appleofdischord, on 06/08/2009, -0/+16It's got electrolytes.
It's got what plants crave. - mithrasinvictus, on 06/08/2009, -0/+151 Tobacco causes cancer
2 People die before the medical bills start piling up. (old people are way more expensive)
3 Profit!!! - trefitch, on 06/08/2009, -1/+15Umm, this link was on digg's front page a little while back:
http://www.usatoday.com/news/health/2008-02-05-obe ...
In a nutshell: fat people and smokers are less costly than healthy people because lung disease kills a lot faster and is a lot cheaper to treat than things like Alzheimer.
Looks to me like the health insurance industry agrees... - Renian, on 06/08/2009, -7/+21Of all things, the medical industry should not be profit maximizing.
- tgc1, on 06/08/2009, -1/+14They die earlier and thereby avoid the insurance companies having to pay out.
- mithrasinvictus, on 06/08/2009, -5/+18The medical industry should not be in the business of making profits at all.
- Shogun213, on 06/08/2009, -11/+23If people want to smoke, let them smoke and shut the ***** up about it
- byrdboy, on 06/08/2009, -1/+12The longer you live, the longer you are able to HAVE health problems that cost them a lot more than a simple chemo session (if even that) before you die.
Also, smokers are less likely to go to a doctor for little things so by the time they do figure out something's majorly wrong, it's far too late anyways.
As to all of the people screaming smokers are evil, who made you king? If they want to kill themselves let them, don't try to enforce your rule on them because you think your way is the only way. - Renian, on 06/08/2009, -2/+12...and none of them should be profit maximizing. They need to be social benefit maximizing, which still involves them turning a profit.
- mithrasinvictus, on 06/08/2009, -1/+10@thoraseya Smokers die younger and more quickly compared to non-smokers. The real payout nightmares start when people get old-age afflictions that wont kill you but will require coverage. They also pay more taxes. Smokers are cheaper.
- jesburger, on 06/08/2009, -6/+15The longer you live the longer you can pay your insurance premiums. How does killing your paying customers help you make a profit??
- MWeather, on 06/08/2009, -0/+9Insurance companies don't care if you smoke. They've already factored that into your policy. They're not losing a dime.
- Gareth321, on 06/08/2009, -2/+10You live in a sad world of greed, Ymeg =/
- bjornski, on 06/08/2009, -1/+9@Gareth321
His avatar says it all. - inactive, on 06/08/2009, -1/+9Well technically it's awesome to insure smokers because they're more likely to die young. Cancer treatment is cheaper than 20 years of old person treatment.
- mithrasinvictus, on 06/08/2009, -1/+9Actually, treating smokers like second class pariahs is cool nowadays.
- bjornski, on 06/08/2009, -0/+8Once it does, I don't think you'll really care.
- mithrasinvictus, on 06/08/2009, -4/+12Universities.
There ARE other motivating factors besides greed. - Wacer, on 06/08/2009, -2/+9I agree with you in terms of private property. People seem to think that since you are walking into a business that it is public property. That is not right. Even a business is private property and as long as they warn people about the smoke inside. A customer has every right to not shop there.
Some anti private property advocates state that it is infringing on the rights of anti-smokers or whatever to work there. I say, if you don't like the conditions of the work environment, go somewhere else. The world is not that small. - MalachiConstant, on 06/08/2009, -3/+10They don't HAVE to diversify into tobacco. They're not obligated to be in that sector. Now that they've "uncovered" this fact, they should remedy it. It could be done quite rapidly, actually. Drop those stocks.
- Egroh08, on 06/08/2009, -0/+7We truly are the worst species.
- novenator, on 06/08/2009, -2/+8health insurance corporations are in it for nothing but profit and don't give a rats ass about health. This is why they need to be locked out of the health care reform debate.
- InMSWeAntitrust, on 06/08/2009, -2/+8like death. nothing like a good dose of death in the morning.
- jemka, on 06/08/2009, -0/+6Now that's what I call diversification.
- Wacer, on 06/08/2009, -1/+61) Why prison? You plan on going there?
2) Getting government assistance? The taxes they put on smokes makes people need the government even more.
3) You wouldn't have to breath that ***** as long as they designate where it is done.
4) Cigarettes are an even bigger problem when they are forced to stand outside, sometimes in freezing weather, and there is no place to put them. I noticed many times where they are not even provided a can.
Just sayin' - Murrabbit, on 06/08/2009, -1/+6So insurance companies make money off of us no matter what. . . so why again do they have such outrageous rates and such abysmal coverage again? Oh right, because that's just the free market doing it's thing. Yay free market, let's keep a hand-full of people rich while the rest of the nation dies of completely preventable illnesses!
- neozeed, on 06/08/2009, -2/+7How could this possibly be viewed of as a conflict of interest?
Oh and I bet they own stocks in auto companies... You know since it kills how many tens of thousands a year.. - Sogui, on 06/08/2009, -2/+7I always thought Digg was where you could find more reasonable or intellectual discussions on the internet, but when you have to wait this many comments just to find an accurate description of how investments and insurers operate... well I lose hope.
- diemunkiesdie, on 06/08/2009, -3/+8Thank god someone here isn't biased! This is such an obvious answer that it pains me that so many other commenters just chose to assume the worst.
- inactive, on 06/08/2009, -4/+8"either way i get my dog back"
- jsffive, on 06/08/2009, -0/+4And how much would the government stand to lose in tobacco taxes if everyone stopped smoking?
- bjornski, on 06/08/2009, -0/+4Not directly...
http://moneycentral.msn.com/content/Insurance/P649 ... - mithrasinvictus, on 06/08/2009, -2/+6maybe he wanted in on the shareholder meetings
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