Tobacco liability climate: best in years?

Sorry for the long absence, but I've been traveling, and am probably the only blogger in Washington without a Blackberry..(I also don't have cable TV, but that's another story...)

By now the U.S. Supreme Court decision on punitive damages in the recent Philip Morris case has been well chewed over, and I'm sure I don't have much to add on the subject except that it's unfortunate that Justice Stephen Breyer, with his cute little book on the Constitution, Active Liberty, doesn't feel the need to give more deference to juries. 

One thing that did jump out at me from the New York Times coverage of the decision was the aside that Altria stock has soared to record highs in the past few months because investors believe that the liability climate for tobacco companies has improved significantly. It seems that the money the tobacco companies have invested in tort reform, judicial elections and other lobbying has truly paid off.