Tempe's 1207 building is officially up for sale
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If you want to know what's going on, just look at third point. This is the hedge fund for Honeywell. On the direction of Third point, Honeywell is looking at the idea of spinning off the aerospace portion of business and concentrating more on information and data sectors of business as well as the other existing sectors. This is public info, all you gotta do is look it up.
I thought they did a sale leaseback of Tempe buildings years ago. Made financial sense only to the execs manipulating the stock price (return on equity and all that).
There's a rumor there are two more bldgs for sale at Phx engines. I believe they are south of the tracks and are manufacturing bldgs.
If bld 1207 and/or the site couldn't be sold to help the bottom line, ALT could say that they did their "best" to sell the property, but have no choice to induce more furlough and rifs to make the number. Employees will get the wedgee as usual.
It will be sold, but maybe not for the amount they are hoping for. Any money will be accepted. Remember we are in a state of panic and all efforts to show a profit are being implemented. Got to make sure our stock looks good to wall street. There is plenty of room at SkyHarbor for us to move in with them.
I agree. 1207 will be a hard sell. I believe the two big buildings at Engines are still for sale / empty (except for a little bit of 102 being used by GKN to POD one of the engines Hon makes) Been on the market roughly 4 years. There are a lot of empty buildings around the greater Phoenix Metro area with all the over building that has taken place due to the easy money policies.
1207 is the only building for sale and no other buildings on the site. They can fence it to separate it from the rest of the site. The employees will be sent to other buildings in Phoenix where there is space, and with all the RIFs there is space. They think they can sell it within 4 - 8 months, IF they can sell it (someone referred to the building as a "dump" and it is). With all the empty light industrial and office space in the East Valley, it may be harder than they think. What large company will want a six story old, non "smart" building for 1,000 people? They are building new (look at the ASU Research Park at 101 and Warner where Go Daddy is located). Not too many companies fit the bill. Good luck, Tempe employees.
Wonder which site is next: Morristown, Torrance, South Bend?
Just look at Phoenix Airport site, fences are up. Some of the machines in 404 were 20 feet deep in ground and are gone, doesn't take too long in hindsight. About 25% of 102 bldg now Gkn. Clearing out 1207 is easy, just need to tell people where new cube is. Cafeteria a non issue if they want to sell it they will.
I agree they can move it because I remember when all of Tempe was at Phx engines and there was no GPSD Tempe.
Either way there is a lot of cash potential sitting there and this ALT stops at nothing
You failed to mention Singapore and that didn't work do wonderfully. Still trying to get Quality out of there.
We will See
LOL flow lines. Sure anything can be moved at a cost!! And yea I've been around long enough to see all the machining leave Phx to Mexicali, Chihuahua, and the Czech and it worked wonderfully. The investment far outweighs the benefit here unless the resources already exist elsewhere to do this work. Tempe is not a high revenue site comparatively. It financially and logically makes more sense that it would be sold off as a whole.
There was a time when folks running machines at Honeywell locations all over this country felt as you do but you see what has happened to them . Hon has taken and continues to take machining away and it's not over yet. And you think just because Tempe has a few flow lines, they can't move? Dream on honeyweller
I'm not believing it for a second. It is too cost prohibitive to move all of the manufacturing and test done here in Tempe to other HON locations. Anyone familiar enough with the work that is done here is smart enough to realize this.
They are doing this in stages. Yes they want out of Tempe. Not sure why global chose the 1207 to get rid of first. They must think they have a better chance for a quick sell or have someone in line already.
So let me get this straight, you mean to tell me an entire 7 story office building is up for sale and the rest of the Tempe site is to continue carrying on with manufacturing for Honeywell? We share the same lot do we not? Who gets the cafeteria? Which parking lot is being sold with the building? Are they just going to fence off the North side of the building and seal off those doors? This makes ZERO sense! It seems to me like they are trying to sell the entire site like what happened in Tucson and they think we're stupid enough to believe this nonsense.
Was a 50 mile radius of the site you were assigned but today with relocation and WFH policy changes, I doubt if relo is very palatable to ALT.
I'm sure they will take all proceeds and give to local charities for Christmas. Remember the awesome children's parties at ASU? Those were the days. Heck managers didn't even take us out to lunch or allows us an hour for a lunch get away this year. My manager thinks she's senior leadership and too busy kissing up to her director and planning travel when the true workers aren't allowed to travel.
Any mention of relocation being paid out? Or is every site under a relocation mile limit. Probably a moot question, would Honeywell pay that out to people in the valley? They used to have a great reputation to work there a number of years back, don't know about that now.
All I see on this board and hear about Honeywell is that they are slashing costs everywhere and not seeing much in the way of revenue increases. Smacks of desperation to get the stock up for some peoples options before Wall Street truly presses them on how they are making those cash and income numbers and what tricks they have left for next year. Honeywell said they increased their EPS for 2017, wonder what other cost measures they have up their accounting sleeves to make those increases.
Hey it's only 30 to 40 minutes drive time.
I hope they presented the message softer that the words put on here, commute or leave .... that's harsh at best and was any time line given or where they are looking to sending them? DV or Sky H are the only sites that can take them. North court has been making changes but no where near ready.
So mush a secret move starting with a "T".
Now that's understanding. Let's sell them offer nothing yo help our loyal employees some since the 90's. Great place to work.
Get ready Deer Valley
Official - to be sold - no leaseback - commute or leave! The Casa Grande, Gilbert and east Mesa employees will be happy! Not!
That is the D&S headquarters building
Tom Hart called a mandatory Tempe site meeting to announce something in 30 minutes
Is there a sign or something you've heard.
Official briefing from site management this morning. Yes that's the 6 story office building on Warner
Whoever buys it will need to renovate it, it's a dump
Sorry "short term" auto correct error
Dirt trim. They gave no choice as I can tell you there are no sites in Ohx ready to take on that many heads. They don't sell that old building in bad need of updating for a nice price do let's see how desperate they are yo get out from underneath it.
No, no lease back.
I can see a lease back ...short term money to make the numbers look better next year.
I thought 1207 was the 6 story bldg. facing Warner road, has the drained pond in front.
No Hon wants the revenue and yo reduce bldg. numbers in Phx area. They may lease back if it sells right away as I don't think smy other site is ready to take on that number of people
Interesting, is that the Marine Bldg, or the main mfg bldg. or at least what's left of Mfg? Wonder what the plan is for moving the production/people or are they looking to sell it to a supplier like they have done Toronto/Tucson?
That means they must be ready to move people to Deer Valley or Sky Harbor.
Happy commuting
Announcements made today around the building. Will go up for sale in January.
Is there a sign or something you've heard.
Seems early to put it on the market