Looking through old cigarettes ads like the one shown is both a hilarious and scary experience. To think an entire generation of people was brainwashed into thinking doctors and medical professionals believed some cigarettes were "good for you".

But apparently Altria's Phillip Morris USA has been trying to market a new cigarette that doesn't kill you as good, or something?

According to a Clusterstock report, Marlboro Ultra Smooth was a version of Marlboro that used a high-technology filter designed to be safer.

But that all came to an end today as the company announced it made its last 'safe' cancer stick and would be closing the doors on Ultra Smooth. In spite of brilliant ideas like that, the cigarette industry continues to decline.

US sales fell 4.5% last year and many Philip Morris analysts expect sales "to decline at an annual rate of between 2.5% and 3% in the coming years," according to the Wall Street Journal article cited.

Tough break, I feel really bad for those cigarette companies. If only they could bring back all the addicted people they caused to die? Someone should really look into that.

Clusterstock: Altria (MO)Gives Up On Safer Cigarette, Back To Cancer Sticks, June 23, 2008

Once you thought things couldn't suck anymore in the financial sector, another Wall Street player is apologizing for screwing up.

Lehman Brothers, one of the top Wall Street banks working in investment banking, investment management, private equity, etc. said today that it had some bad news for everyone who doesn't like bad news.

The big LEH announced it would be taking nearly $2.8 billion in 2nd quarter write-downs and would be taking its first quarterly loss as a public company. Compare this $2.8 billion loss to the $489 million profit they made this time last year. Wall Street and the financial world have become much different places since those care-free, hug your neighbor, make some money days.

Many people thought that Lehman was one of the good guys. A solid bank that wouldn't get involved in all the messiness that Citi, Merrill Lynch, and (taking things to a whole new level) Bear Stearns were wading through. But it looks like almost no one is coming out of this down-turn in the economy and never-ending fallout from subprime unscathed. Well, Goldman Sachs is still the pretty boy on the block, but they're like in a league of their own.

A NY Times article detailing the announcement, tried to explain how it happened:

The losses came from negative mark-to-mark adjustments, or the loss in the value of an asset and losses from its own trading activities, called principal trading.

But no one was really surprised that Lehman would take a loss, the real shock comes from how much of a loss. It's all about giving the right estimates. And this quarter's LEH estimates were wayyyy undersold. No one thought it would be this bad. I guess someone forgot a few zeros somewhere?

And now Lehman's plan to rebound? Raise $6 billion in fresh capital from investors. Easier said than done, right? Lehman is selling off a portion of their stock offerings to make up for the debt. However, the stock has been down almost 10% of its previous value this morning on the news of this announcement.

But guess who is stepping up saying 'We got yer back on some of that fresh capital'? Well it's everyone's favorite Garden State. The New Jersey Division of Investment, which manages over $80 billion in public pension money, is apparently in the business of 'rescuing' those hit hard by write-downs. Need some credentials? Just ask Merrill Lynch, who NJ helped out a few months ago when they found themselves on hard times.

But if NJ can't get the job done, what else can the Lehman 'Bash' Brothers do to survive? Maybe they should team up with those delightful Jonas Brothers. Those guys are so wholesome and talented, there's no way anyone would 'short' them.

Dow Jones: Lehman To Raise $6 Billion After Deep $2.8 Billion Loss, June 9, 2008

NY Times: Lehman Posts Loss and Plans To Raise Capital, June 9, 2008

Which stocks should you be drooling over and which should you jump the hell out of?

After a big week of 1st quarter (Jan - March) profit announcements we here at WSF help you make sense of all the big winners and losers.

Wendy's - After Dave Thomas's company publicly dissed the idea of an Arby's merger, the deal was finalized this morning. Although, both Wendy's and Arby's will remain seperate companies, the new owners (Triarc Cos.) are notorious for making big changes to increase efficiency. Stay tuned for some possible big changes at Wendy's in the coming year. All Wendy's shareholders will receive 4.25 shares of Triarc for each Wendy's share they own.

Ford - The American motor company has been pegged as dead for quite some time now, but stunned many people today when it announced it had earned $100 million this past quarter. This is remarkable compared to the $282 million loss this time last year. This is good news if you're a shareholder, but bad news if you work for the company. Most of these increased profits came as a result of selling off major divisions of Jaguar and Land Rover and cutting jobs.

Bristol-Myer's Squibb - This big pharmaceutical company announced a 4.2% loss last quarter due to generic brands crampin' its style on blood-clotting and cancer medications. B-MS is also lightening the load like a damaged ship by selling off its medical imaging, wound-care, and nutritionals businesses. Herpes medication is in big demand, they should probably play off that angle a little more.

Apple - The Apple Kings say 'What recession?', as they boast a 36% increase in Mac computer sales since a year ago. It seems that 'halo effect' of people liking iPods and iPhones and then switching to Mac computers is finally coming around. Downside for consumers: Get ready for another smart ass remark from 'Mac' in the next annoying 'Mac vs. PC' commercial.

Motorola - The pioneers of the wireless phone industry have been taking a beating lately. Their stocks fell to below 2003 levels this morning after news that some of its senior officers were leaving, profit losses were increasing, and those trendy Europeans don't think their phones are cool enough.

The Euro - (I know, not a stock, but this is encouraging) The American dollar gained a little on the European currency today because reports were released that showed French, German, Belgian 'business morale' has fallen. Most of these feelings of sadness come from fears that the European Central Bank will raise interest rates. Wipe those tears, ladies.

Is there anyone we missed? Or are you looking at these 'losers' as good opportunities to buy? Let us know in the comments section.

MarketWatch: Wendy's to be acquired by Arby's parent, April 24, 2008

New York Times: In Surprise, Ford Swings to Profit, April 24, 2008

Wall Street Journal: Bristol Myer's Net Falls 4.2%, April 24, 2008

MarketWatch - Mac and iPhone sales lead growth, April 24, 2008

MarketWatch - Motorola posts wider loss, April 24, 2008

International Herald Tribune: German and French business morale falls sharply, April 24, 2008