1. Meanwhile, the tobacco business is still going strong, despite the growing external pressures from government and health-care groups and the public. After the Kraft and General Foods acquisitions, food accounted for 50 percent of Philip Morris sales and 30 percent of profits. Cigarettes, while accounting for only 40 percent of sales, contributed a whopping 65 percent of operating income. 2. Maxwell will continue to lessen risk by using profits generated by tobacco to reduce Philip Morris's dependence on it. Apparently, someone likes what he is doing Philip Morris stock kicked up 63 percent in 1989. Moreover, Philip Morris was runner-up as"America's most ad mired corporation" in Fortune's annual survey.