Lorillard, Inc. Announces $500 Million Share Repurchase Program

Lorillard, Inc., the third largest manufacturer of cigarettes in the United States, announced today that the Company's Board of Directors approved a new share repurchase program, authorizing the Company to repurchase in the aggregate up to $500 million of its outstanding common stock.

Purchases by the Company under the new program may be made from time to time at prevailing market prices in open market purchases, privately negotiated transactions, block purchase techniques or otherwise, as determined by the Company's management. The purchases will be funded from existing cash balances.

This program does not obligate the Company to acquire any particular amount of its common stock. The timing, frequency and amount of repurchase activity will depend on a variety of factors such as levels of cash generation from operations, cash requirements for investment in the Company's business, current stock price, market conditions and other factors. The share repurchase program may be suspended, modified or discontinued at any time and has no set expiration date.

 

About Lorillard, Inc.

Lorillard, Inc., through its Lorillard Tobacco Company subsidiary, is the third largest manufacturer of cigarettes in the United States.  Founded in 1760, Lorillard is the oldest continuously operating tobacco company in the U.S.  Newport, Lorillard's flagship premium cigarette brand, is the top selling menthol and second largest selling cigarette brand in the U.S.  In addition to Newport, the Lorillard product line has four additional cigarette brand families marketed under the Kent, True, Maverick and Old Gold brand names. These five brands include 43 different product offerings which vary in price, taste, flavor, length and packaging.  Lorillard, through its LOEC, Inc. subsidiary, is also the leading electronic cigarette company in the U.S, marketed under the blu ecigs brand.  Lorillard maintains its headquarters and manufactures all of its traditional cigarette products in Greensboro, North Carolina.

Robert Pattinson forgives Kristen Stewart for 'stupid mistake'

Their relationship was left in tatters when she was photographed cheating on him with married film director Rupert Sanders.
 
But Robert Pattinson and Kristen Stewart have reportedly decided to give their romance another shot.

The Twilight co-stars are said to have had a tearful heart-to-heart, with the 26-year-old actor eventually deciding to forgive his girlfriend for what he considers to be a 'stupid mistake'.

A source told The Sun: 'They pretty much decided they couldn't live without each other.

'Kristen poured her heart out to Robert and told him it was a one-off and a mistake.'

The pair are now said to be moving into a secluded Los Angeles home together, and are hoping to rebuild their relationship.

The source added: 'Rob sees it as Kristen made a really stupid mistake. After a lot of long tearful talks, they've worked it out.

'Rob can see how truly sorry Kristen is and has totally forgiven her. They really do love each other.'
Kristen seems to have been quietly confident about making amends with Rob for some time.
 
Earlier this month, she told reporters at a press conference the pair were 'totally fine' about making potentially awkward public appearances together in November while they promote The Twilight Saga: Breaking Dawn Part 2.
 
Kristen said: 'This momentary indiscretion has jeopardised the most important thing in my life, the person I love and respect the most, Rob. I love him, I love him, I'm so sorry.'
 

Now Kirsten can quit smoking and drink only energy drinks as her relationship with Robert Pattinson got a second chance. Remember, Kristen Stewart declared that she will be living on a ”Red Bull and cigarettes” diet due to her rupture with Robert Pattinson. The actress started dieting with cigarettes, energy drink Red Bull and the potato chips. Kristen was in a very nervous exhaustion and used only the energy drink Red Bull with no sugar and smokes cigarettes.

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40 Funny Facts Everybody Should Know

1. 'Bimbo' is a brand of soft drink manufactured and marketed by CocaCola, Inc.

2. 35% of the people using personal ads for dating are already married!

3. 40% of women have hurled footwear at a man.

4. 85% of all Valentine's Day cards are purchased by women!

5. 90 percent of women who walk into a department store immediately turn to the right.

6. Walt Disney, the creator of Mickey Mouse, was afraid of mice.

7. A Citreon 2CV with an oil leak once travelled 500 miles through Italy after its gearbox was filled with bananas!

8. Winston Churchill was born in a ladies room during a dance.

9. Yahoo! was originally called 'Jerry's Guide to the World Wide Web'.

10. A snail can sleep for three years.

11. About 2/3 of American men prefer boxers to briefs.

12. Actor Mark Wahlberg has a third nipple!

13. An albatross can sleep while it flies!

14. Another name for a Microsoft Windows tutorial is 'Crash Course'!

15. Aoccdrnig to a rscheearch procejt at Cmabrigde Uinervtisy, it deosnt mttaer waht oredr the ltteers in a wrod are, the olny iprmoatnt tihng is taht the frist and lsat ltteer be in the rghit pclae. Tihs is bcuseae the huamn mnid deos not raed ervey lteter b

16. Bill Gates' house was designed using a Macintosh computer.

17. California has issued at least 6 drivers licenses to people named Jesus Christ.

18. Chewing gum while peeling onions will keep you from crying!

19. Children laugh about 400 times a day, while adults laugh on average only 15 times a day.

20. Diet Pepsi was originally called Patio Diet Cola.

21. For beer commercials, they add liquid detergent to the beer to make it foam more.

22. For every 'normal' webpage, there are five porn pages.

23. Frozen lobsters can come back to life when thawed!

24. If a Lobster loses an eye, it will grow another one.

25. If you put a raisin in a fresh glass of champagne, it will rise and fall continuously.

26. In 1659, it was illegal to celeb Christmas in Massachusetts.

27. In Athens, Greece, a driver's license can be taken away by law if the driver is deemed either unbathed or poorly dressed.

28. In high school, Robin Williams was voted 'Least Likely to Succeed.'"  

29. James Bond is also known as Mr. KissKissBangBang.

30. Jean Claude Van Damme learned to speak English by watching the cartoon 'The Flintstones.'"

31. King George I could not speak English!

32. Leonardo DiCaprio got his first onscreen kiss from a man!

33. Men laugh longer, louder, and more often than women.

34. Most people who read the word 'yawning' will yawn!

35. One in every 4 Americans has appeared on television!

36. President George W. Bush and Playboy founder Hugh Hefner are cousins!

37. The average office worker spends 50 minutes a day looking for lost files and other items.

38. The average person laughs 13 times a day!

39. The average person spends three years of his or her life on a toilet.

40. The most productive day of the workweek is Tuesday.

All About Apple’s New iPhone 5

The game changer, iPhone 5 announced earlier this week and hitting the Apple retail stores on September 21 is likely to bring heavy revenues in the company’s fourth quarter sheets. Currently Apple is being overwhelmed with the pre-orders of the smartphone just like the sale of more than 1 million iPhone 4S, its previous counterpart in the first 24 hours of its pre-sales last October. Arriving with faster LTE network technology, better design and faster processor, the latest flagship product of Apple is creating waves again.

Talking about the new features, iPhone 5 has thinner and taller design with the display measuring 4 inches diagonally. This provides a good amount of extra space for browsing, adding another layer of icons and enhancing the screening experiences. Then we have a faster A6 chip and an extra microphone. The camera has been undergone improvements too. The back is mostly metal with glass portions on the top and bottom for letting antennas communicate without obstacles. The SIM will now have to be even smaller, Micro to Nano presenting a thinner spec. The new dock connector being 80 percent smaller than other 30 pin connectors saves the user from the hassles of orienting it correctly as there is no top or bottom or it can be aligned either way. However the old cables won’t work with this new phone and the adapter provided by Apple is way too expensive. The battery life is more or less the same, however the standby has increased to 225 hours from 200 hours of iPhone 4S, as stated by the Apple’s standards. The phone employs LTE technology, a faster 4G network connection which will result in fast downloads, streaming and browsing.

The iPhone starts at $199 for the 16GB version, going up to $299 for the 32GB one and finally reaching upto $399 for the 64GB flavor, all coming with a two years contract from the carrier. For customers who had purchased the previous version of the phone and are willing to upgrade, there are a number of options available (depending upon the carrier) to return or exchange with Apple’s having 30 day return policy.

Preorders started on September 14 on the Apple’s site and other US carriers like AT&T, Verizon and Sprint. Release day supply has already been sold out and Apple had to push back new orders by nearly two weeks as stated by the company. Preorders for iPhone 5 have been incredible,” an Apple spokeswoman said. “We’ve been completely blown away by the customer response.”