The original Mini was introduced in the United States more than 30 years ago but never caught on beyond a few devoted fans. In those days, U.S. buyers scoffed at its small frame, and exports stopped in 1967 when the Mini couldn't meet emissions standards. Rover, however, thinks it will have better luck this time around. But President Clinton last week concluded that the deal, which included some restrictions on the Food and Drug Administration, wasn't tough enough. The size of the payments would depend on how successfully the industry reduces teen smoking.
Studies show price increases drive down the number of minors who smoke.
Meanwhile, Philip Morris named Michael Szymanczyk to head its U.S. tobacco operations. He succeeds James Morgan, who is known for ad campaigns like those now under fire. Spokesmen say the merger will pair Adidas's strength in Europe with the popularity of Salomon's ski, cycling, and golf equipment in North America and Japan. Analysts add the move is another smart step by president Robert Louis-Dreyfus, who pulled Adidas back from near bankruptcy in 1993. Adidas's stock price has nearly quadrupled since 1995.