TOBACCO HEAD BOWS OUT

Michael A. Miles, CEO of Philip Morris --the world's largest tobacco company -- resigned after six years on the job, in a move that stock traders say underscores the consumer products giant's commitment to cigarette production. Nonsmoker Miles' plan to separate the embattled tobacco branch from the rest of the company looks unlikely, and company executives are preparing to shore up their image on Wall Street. The stock has been on a long, downward slide over the last decade.

Quotes of the Day »

RAY KELLY, New York City Police Commissioner, on the arrest of a New Jersey man in one of the nation's most baffling missing-children cases, the disappearance more than three decades ago of 6-year-old Etan Patz.
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