MICHAEL A MILES REMARKS ECONOMIC CLUB OF CHICAGO Tuesday, February 9, 1993 and thank you ladies and gentlemen  It's a pleasure to Thank you asked Ira what you might like to be here_ Whan was invited tO speak t0 you, long He said that could talk about anything wanted to hear ma talk abou: said something really interesting This reminded ma of an occasion back in the 1960's, when the comedian Mort Sahl was introduced by a master of ceremonies who said, "Come on out, Mort, and say something [ealk lunny This kind of introduction is, of course comadian's kiss of death; but Sahl; who was both ultra-liberal and irreverently anti-establishmant; was up to the occasion; He came out, ooked at the MC, looked at the audience, and said This John Foster Dulles brought down the nouse Well; Lve been called on t0 say something really interesting, and while it's probably not house-bringing-down material, hope some of it will be interesting to you: There are two subjects Id like to touch on this evening First, because Ive cliscovered that Philip Morris' size and mix of businesses make it the object of considerable public interest, Id Iike to give you managing it and the strategies by which we are brief overviow of the company Second, Id like t0 take a few minutes to talk about what will call "science fiction the problems that this science fiction creates for businesses in general and our business in particular, and some thoughts about what can be done to solve , or at least lessen, these problems To begin with; then, let me tell you a Iittle about Philip Moris_ In its combined operations, Philip Morris is probably the world's largest In its component parts, PMis also the packaged goods company consumer worid's largest international cigarette company, the second largest food company and the third largest beer company 7 Last year, revenues for our worldwide operations totaled little more than 59 billion dollars which we expect will put us in the top ten on Fortune's again list of the largest industrial companies when that list is published in April; 66,000 employees working in 100 facilities in 160 countries We have They produce literally thousands of different consumer around the world packaged products, selling under hundreds of ditferent brand names: Page
MICHAEL A MILES REMARKS ECONOMIC CLUB OF CHICAGO Tuesday, February 9, 1993 Thank you and thank you ladies and gentlemen  It's a pleasure to be here_ Whan was invited tO speak t0 you, asked Ira what you might like to hear ma talk abou: He said that could talk about anything wanted to long said something really interesting This reminded ma of an occasion back in the 1960's, when the comedian Mort Sahl was introduced by a master of ceremonies who said, "Come on out, Mort, and say something [ealk lunny This kind of introduction is, of course comadian's kiss of death; but Sahl; who was both ultra-liberal and irreverently anti-establishmant; was up to the occasion; He came out, ooked at the MC, looked at the audience, and said John Foster Dulles This brought down the nouse Well; Lve been called on t0 say something really interesting, and while it's probably not house-bringing-down material, hope some of it will be interesting to you: There are two subjects Id like to touch on this evening First, because Ive cliscovered that Philip Morris' size and mix of businesses make it the object of considerable public interest, Id Iike to give you brief overviow of the company and the strategies by which we are managing it Second, Id like t0 take a few minutes to talk about what will call "science fiction the problems that this science fiction creates for businesses in general and our business in particular, and some thoughts about what can be done to solve , or at least lessen, these problems To begin with; then, let me tell you a Iittle about Philip Moris_ In its combined operations, Philip Morris is probably the world's largest consumer packaged goods company In its component parts, PMis also the worid's largest international cigarette company, the second largest food company and the third largest beer company Last year, revenues for our worldwide operations totaled little more than 59 billion dollars which we expect will again put us in the top ten on Fortune's list of the largest industrial companies when that list is published in April; 7 We have 66,000 employees working in 100 facilities in 160 countries around the world They produce literally thousands of different consumer packaged products, selling under hundreds of ditferent brand names: Page