Master Settlement Agreement. In addition to this, LeBow was honored with a proclamation by Florida Governor Lawton Chiles for his "invaluable assistance" in helping Florida achieve its historic $11.3 billion settlement with the tobacco industry. Following this presentation, Lebow and Mr. Chiles addressed a group of students, who "saved their toughest questions for Liggett Group chief Bennett Lebow of Miami". One student asked, "If you want to be a watchdog of the industry, why not get out altogether and stop making cigarettes?" to which he responded that if he did, others would continue. LeBow also developed, through Vector Tobacco Inc., the nicotine-free cigarette Quest (cigarette) which is a cigarette designed to help people quit smoking. Also that year LeBow teamed up with corporate raider Carl Icahn to make a bid for RJR Nabisco. In response to this proposed spin-off of Nabisco from RJR Reynolds, tobacco industry analyst Ellen Barabas stated that "I think there are people who would support a spin-off of Nabisco, but not by Lebow. One of the prime factors was Lebows dubious reputation as a manager. In 1994 his shareholders sued him, claiming he had taken millions of dollars in improper loans; Lebow settled out of court." According to court documents, Liggett, while under LeBow's leadership, "engage[d] in marketing tactics that appeal to youths, such as couponing, sampling, and 'buy one get one free' offers for its cigarettes, and advertise(d) in magazines with substantial youth readership." Notable acquisitions In 1987, Liggett bought a majority stake in Western Union which had a negative net worth of $200 million. The company, then renamed New Valley LLC, eventually filed for bankruptcy but was able to pay its bondholders in full via asset sales. Liggett later sold its remaining interest in Western Union Financial Services Inc for $1.2 billion earning it a $300 million profit. In May 2010, after a $25 million investment, he became a member of the board of directors at Borders Group Inc. and was immediately elected chairman of the board, replacing Mick McGuire, who resigned. In June 2010, LeBow became CEO of Borders Group Inc. In February 2011, Borders declared bankruptcy. LeBow is also chairman of the board of Vector Group, the holding company for Liggett Group, Vector Tobacco, New Valley LLC, and Douglas Elliman. He owns over 150,000 units of Vector stock that is worth $7.5 million. Philanthropy and political activity LeBow is a large supporter