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CVSís decision isnít really about smoking
Market Watch ^ | February 5, 2014 | Diana Furchtgott-Roth

Posted on 02/07/2014 1:51:09 AM PST by Tolerance Sucks Rocks

When CVS Caremark Corp. Chief Executive and President Larry Merlo announced that his drugstore chain would stop selling tobacco products , one of the first to respond was the president of the United States.

The speed of the president’s statement indicates that CVS’s decision was likely coordinated with the White House. Every day, countless business decisions are made without any comment from the White House. Something unusual was going on.

This is troubling. It gives the appearance of preference for those who curry favor with the powerful, and it squeezes out smaller entrants who can supply innovative products and services to consumers. What do you think about CVS’s decision? Take our poll.

The president said: “I applaud this morning’s news that CVS Caremark has decided to stop selling cigarettes and other tobacco products in its stores, and begin a national campaign to help millions of Americans quit smoking instead.”

The president congratulated Merlo by name, as well as “all who helped make a choice that will have a profoundly positive impact on the health of our country.”

As long as businesses are acting within the law, they should not be trying to please the federal government. Nor should they refrain from acting because they expect government’s praise. There is no upside to such behavior, and much downside.

As everyone knows by now, CVS, the No. 2 drug store chain, will give up $2 billion in revenues by halting sales of tobacco products. CVS’s stock declined in response to the announcement, but it is not clear that shareholders’ long-term interests will be undermined.

(Excerpt) Read more at marketwatch.com ...


TOPICS: Business/Economy; Constitution/Conservatism; Crime/Corruption; Culture/Society; Editorial; Government; News/Current Events; Philosophy; Politics/Elections
KEYWORDS: antitobaccoscam; biggovernment; cronycapitalism; cvs; economy; fascism; favoritism; followthemoney; freemarkets; government; health; kronies; larrymerlo; nannystate; obama; scam; smokingiscool; tobacco
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1 posted on 02/07/2014 1:51:10 AM PST by Tolerance Sucks Rocks
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To: SheLion; Eric Blair 2084; -YYZ-; 31R1O; 383rr; AFreeBird; AGreatPer; Alamo-Girl; Alia; altura; ...

Nanny State PING!


2 posted on 02/07/2014 1:51:51 AM PST by Tolerance Sucks Rocks (...)
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To: Tolerance Sucks Rocks

I still find this hard to believe. I’m not a smoker, but there is a CVS near me and I often go there to get photos developed and pick up odd items. My impression is that about a third of the store’s customers show up to buy cigarettes, and often pick up a few additional items while they are there.


3 posted on 02/07/2014 1:56:20 AM PST by Junk Silver
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To: Tolerance Sucks Rocks

Rent-seeking. Somewhere in this is a deal or an expectation that Obama will grant boons to CVS.

This is inevitable when you have a government that is this big, this powerful and this lawless.


4 posted on 02/07/2014 2:02:49 AM PST by SargeK
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To: Junk Silver

It’s being reported this morning that CVS is no longer carrying odd items.


5 posted on 02/07/2014 2:04:40 AM PST by Misterioso (Man's ego is the fountainhead of human progress. - Ayn Rand)
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To: Tolerance Sucks Rocks

If this is such a good idea then why wait until October to implement it? Start now by selling all of the cigarettes they have then not order any more.


6 posted on 02/07/2014 2:12:29 AM PST by Hillarys Gate Cult (Liberals make unrealistic demands on reality and reality doesn't oblige them.)
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To: Tolerance Sucks Rocks

Talk about an opening for Niche Marketing!!.....Smoke shops will spring up next door to CVS store all over the nation!


7 posted on 02/07/2014 2:14:59 AM PST by M-cubed
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To: Misterioso

As long as they continue to carry additional items, it should not be a problem.


8 posted on 02/07/2014 2:15:38 AM PST by Cowboy Bob (They are called "Liberals" because the word "parasite" was already taken.)
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To: Tolerance Sucks Rocks

Oh hell yes.

At least one of the local TV stations in Miami gave CVS the full treatment of praise, being VERY OBVIOUS about OBAMA PRAISING THE DRUG STORE...

it was revolting.


9 posted on 02/07/2014 2:16:48 AM PST by SoFloFreeper
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To: Tolerance Sucks Rocks

Hmmm, maybe they’re going to be the sole source of socialized prescriptions when der fuehrer makes more strides in the field of socialized health care?


10 posted on 02/07/2014 2:17:26 AM PST by RushLake (Nothing can bring you peace but the triumph of principles. (Emerson))
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To: Tolerance Sucks Rocks
Wallgreens here I come.
11 posted on 02/07/2014 2:21:36 AM PST by McGruff (Every night has it's dawn.)
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To: McGruff

yep, Walgreens, Rite-Aid... CVS isn’t the only game in town...


12 posted on 02/07/2014 2:47:21 AM PST by latina4dubya (when i have money i buy books... if i have anything left, i buy 6-inch heels and a bottle of wine...)
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To: SargeK

CVS is planning on partnering with insurers and health care systems. This gives them an edge over their competition. Would not be surprised if buried somewhere in the ACA is regulations prohibiting the above from partnering with any company that sells tobacco, or alcohol. Or Firearms....


13 posted on 02/07/2014 2:59:06 AM PST by Kozak ("Send them back your fierce defiance! Stamp upon the cursed alliance! To arms, to arms in Dixie!)
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To: Tolerance Sucks Rocks

Gotta make room for pot.


14 posted on 02/07/2014 3:03:31 AM PST by fso301
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To: Tolerance Sucks Rocks
you sleep with dogs, you get fleas
you sleep with whores/sluts, you get std's and much worst.
you get what you asked for..good riddance.

15 posted on 02/07/2014 3:06:37 AM PST by skinkinthegrass (The end move in politics is always to pick up a gun..0'Caligula / 0'Reid / 0'Pelosi)
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To: Tolerance Sucks Rocks

ANY company CEO who decides to give up TWO BILLION dollars in this horrible economy should be canned. Immediately.

If not, I would be an immediate seller of the stock.

The CEO should be only interested in getting as much revenue through the door as possible. THAT IS HIS/HER ONLY JOB.


16 posted on 02/07/2014 3:07:47 AM PST by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: Kozak

You can partner with health systems and also sell legal products. The two are not mutually exclusive.

Bet that Walgreens and Riteaid will also be partnering in the future; that does not mean they cannot sell cigarettes also.


17 posted on 02/07/2014 3:09:07 AM PST by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: Hillarys Gate Cult

Exactly!

And if it is so easy to replace revenue, then why don’t all of their competitors simply mimick what CVS is doing? Hint: It ain’t easy to replace lost revenue.


18 posted on 02/07/2014 3:10:48 AM PST by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: M-cubed
Smoke shops will spring up next door to CVS store all over the nation!

Actually, for every CVS in my area, and there are lots, there's a competing Walgreens.........Fortunately I get my prescriptions from a local Walgreen so CVS hasn't lost my business in that respect since they never had it.

19 posted on 02/07/2014 3:18:43 AM PST by Hot Tabasco (I think I've lost my mojo.....)
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To: SargeK
Somewhere in this is a deal or an expectation that Obama will grant boons to CVS.

This Obama?


20 posted on 02/07/2014 3:25:12 AM PST by Jess Kitting
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