Honeywell is planning a major sell off of its units and needed to cut costs to make the books look better amidst 1Billion in past due orders. Honeywell plan to split off Aero into pieces and sell them off. Watch news for signs beginning in Q3.
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@fnp BK stopped being profitable around 2001. No one will buy it. Garmin is the new BK... The king is dead!
@fnp Honeywell also understates rates on government contracts by taking advantage of employees. By not paying salaried employees overtime, but forcing us to record any overtime hours we work the cost of our labor is artificially lowered. Multiply 8 hours of unpaid weekly OT by thousands of employees who are pressured to work extra for fear of a bad performance evaluation or fewer opportunities for advancement and you gain perspective of the impact. Honeywell is a dog and pony show, all smoke and mirrors with no real substance. If we had to compete on the basis of actual cost, honeyhell would fail every time. I’ve also heard some are asked to charge to government contracts when they are not actually working on government projects. Work on your exit strategy, this company is dishonest and unethical.
I was just laid off from the Aerospace division this week. They announced layoffs just after completing the 2nd round of furlough weeks that were supposed to help save jobs - ha! They are closing the Anniston Alabama location which means 200 production jobs. They will move some of those roles to Phoenix, but only a fraction of what was in Alabama. They recently closed a hangar in Albuquerque, which is where Bendix King is located. BK is still trying to market to the smaller piston aircraft buy they are well behind the power curve as well and have not been very profitable since being acquired by Honeywell. So I look for them to dump BK later this year. As far as the N95 masks go, the visit from Trump was a dog & pony show for the media. The facility wasn't even operational yet. They took masks that had been produced in the Rhode Island facility and staged them for the show in Phoenix by placing them on a conveyor belt to simulate production. Word is that they will eventually move the N95 production, once it's actually operational, to be listed under the aerospace division to prop up the numbers on paper. I have more behind the scenes information but I will stop there. See Honeywell? This is what happens when you layoff educated employees who were never required to sign any non-compete or non-disclosure agreements. The truth comes out.
They don't need to do that. The beancounters have stashed away lots of money and they'll slowly bleed it back into profits at their master's bidding. All those questionable "specials." DA s—ed up to Orange Man so they won't get investigated by the SEC, and the auditors are too dumb to catch it.
Sources?
How about just looking at history's of businesses that start divesting. Always cut as many costs as possible for the buyers.
There is no way anyone can post specifics.
Just ask yourself if you think Hon aerospace is a viable going concern for the future as it is structured.
Personally I feel that it could be but it certainly will be structured differently. If Hon Corp can find a buyer and turn those dollars into buying a business with better growth potential that would certainly be evaluated.
Proves the point, the only way to make money is to sell off pieces. 1) Engines will be first, not profitable anymore, but the most profitable piece today. 2) Connected will be next, it has failed and you see that by all the HCE employees finding new positions. 3) last will be the manufacturing sites, pieces will go to like-minded companies for the unique position we still have like GPS out of Clearwater, Space in Glendale, ASIC foundry in Minnesota, W&B in South bend, all have potential, but all are failing.
What are your sources?
Ha! Joke's on them, anyone with a brain can see this is a failed business.
No innovation for at least 20 years+.
Haven't won a viable new platform since the B777
Is on the Boeing no bid list for at least 5 years now
1 BILLION dollars in backlog and growing
Didn't make it into the A380 or the B787 for APU
BGA HTF is a total disaster: doesn't matter we sold it to standard aero anyway so they can deal with it
Nothing in the pipeline to save the company
No, UTC told Davey "Coyote" Cote to pound sand when he tried to merge with them, them he retired shortly after knowing the game was up. He passed the goldbricking torch to dairyass to put the finishing move on AERO, take the golden parachute and bounce.