If you look at the income statements of all Honeywell Aerospace's competitors ( GE Aviation, UTC, Lockheed Martin, Northrop Grumman, Garmin) they are all showing an increase in year over year revenues. Honeywell ALT is responsible for the situation Honeywell Aerospace is in, all the economy stuff is BS. Another fact that shows how ALT is unqualified to lead a company is that each furlough is only saving $10-20M, when the company's op income is around $800M per quarter with revenues $4B per quarter. The furloughs do not make any difference in Aero's quarterly numbers. ALT is just ridiculous, btw they themselves are not furloughed.
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Darius is cotes butt boy, hand selected and groomed for the role. Plus Côte is going to be on the board, so don't think Darius is going to do anything that is good for the employees and the company's future, he will be concerned with the shareholders just like Côte.
For those with doubt about an Asian company buying Honeywell Aero or any other "regulated" entity, the coming "free trade" deals will probably contain language to blow all government regulation of multi-nationals out of the water.
Why do you think Dave Cote, Jeff Immelt, the U.S. Chamber of Commerce and every multi-national company are its biggest proponents?
Nobody knows what all is in those trade deals like the TPP because not only they kept them secret for as long as they could they'll get Hillary to do it for them later. Trump may be lying about his resistance to it.
There could also be language in them to allow "free trade" of workers, where they don't need H1-B visas anymore to bring them here, or allow easier off-shoring.
So for Honeywell employees out of work for the next few months, if you have time, please use some time to attend campaign stops of your US Congress-critter or Senator & force them to expose their stand on such agreements. Pressure them if necessary by embarassing them in front of a public forum if they are "for" them.
One last thing, why do you think Dave Cote is going to stay around a couple of more years? He's going to cash in as much as he can on the coming sale of Aero & other business units (or the whole company) once the coast is clear. He has destroyed multiple companies (acquisitions, etc.) and feels he needs to get rewarded at the end of his "great theft".
Aerospace is not getting sold. It has 22% operating margin, the envy of the entire industry and frankly the reason why Honey's stock price is near 6X higher than in 2001. The problem, as many people have vented here, is that Cote is pulling a Jack Welch style slaughter of people and research $$$$. GE has suffered for 15 years as a result of that debacle and is only now showing signs of Life and Immelt. Maybe Honey can turn it around under the new CEO but I am very skeptical right now
If I were Darius, I'd have second thoughts about leading this company.
Not Asia. That will not pass US Government regulations.
The only companies dumb enough to buy Honeywell will be from Asia. Everyone knows except Wall St. analysts/investors (apparently) that there's nothing but an empty husk with a few overworked tired workers.
I bet the Aerospace division is getting prepared to be sold, financials are getting prepped to be presented as an attractive company, Furloughs and Lay offs will show a lean and efficient company in terms of personnel, make your bets! Who will buy Aero???
THERE IS NO ORGANIC GROWTH AT HONEYHELL. Just remember that. All our products are old junk. 36 series apu compressor seal leaks, TFE engines either make metal or vibrate to pieces. Dave doesn't want do invest in R&D. His idea of grlwth is to buy other companies and use their technology as ours. Well, you're schit shot out of luck now, aren't you davy. You've run out of companies to buy and now the chickens are coming home to roost. Everyone in the Aerospace industry knows Honeywell makes junk. More specifically, old, outdated, unreliable junk. The game plan now is to shake the employees down to prop the stock price up so dave can get his millions in retirement each month. Dave, I hope you choke on some guys kock.
i have suspected as much, our hard times are not driven by the overall economy. but rather our inability to win-contracts with antiquated technology and bloated management cost. In the last two years every must win contract for D&G, Flight controls, FMS... Etc, has been lost to GE, Collins, and Garmin, and yet the only heads that role are at the engineering (worker bee level), and not at the ALT (dumb a-- level).
The ALT keeps referencing the layoff's at other larger aerospace providers as cover for their poor decision making. when the reality is, those other companies are losing business to sequestration by the US government not from commercial OEMs.