Chapter 29 The tobacco Industry

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The tobacco Industry: R J Reynolds

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After the merger of Nabisco and RJ Reynolds in 1985, RJR Nabisco became the

largest consumer product company in the United States.

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For RJ Reynolds, tobacco products account for 36% of the company's total revenue,

but for 64% of company profits.

Nicotine Addiction, p. 47

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"Today, Reynolds has access to 90% of the world's markets; a decade ago, only

40%. Opportunities have never been better."

1993 RJR Annual Report

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At the RJ Reynolds plant in Winston-Salem N.C., 8200 workers produced 142 billion

cigarettes in 1993, or 546 million each working day. Sears, Roebuck & Co. has

banned smoking in all of its nationwide stores, the only exception being its store in

Winston-Salem. Likewise, JC Penney made an exception for its store at the Hanes

Mall in Winston-Salem.

San Francisco Chronicle, April 28, 1994

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After Henry Kravis' leveraged buyout of RJ Reynolds/Nabisco, RJR CEO Ross

Johnson resigned in early 1989 and received a $53 million "golden parachute" for

leaving. RJR lost nearly $500 million on the Premier smokeless cigarette, which was

never marketed.

Barbarians at the Gate, Bryan Burrough and John Helyar, Harper and Row, 1990,

p. 507 and HBO Pictures' Barbarians at the Gate, 1993

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Monday, July 24, 2000

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