Any truth to this?

There are rumors around that GE Aviation and parts of Honeywell Aerospace will get merged together sometime later this year, with former Honeywell CEO Dave Cote in charge of either GE or a new company for putting together the deal and would oversee for some period of time until he cashes out again with his biggest pay out yet (he's a Welchite). A small number of people made millions & billions while the employees, retirees, suppliers, & customers just got the shaft. Wall Street loves this dude and his ruthless self servicing business approach. Look at the GE layoff site to see how messed up things are at GE too these days with these short term business approaches to self enrich the CEO's and Wall Street.

This is the first time I read about this being a possibility, anybody knows if there is any truth to it?

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You would think Cote would try to spend the billion he is worth, but hanging on to consulting roll and as executive chairman thru 2018. This is what they like to do: feed their massive egos, talk them selves up, talk others down. I'm sure he will be appearing on CNBC like Larry B in suit and tie talking about what is wrong with American companies. What's wrong with skin diving, golf or pickle ball? These guys just can't let go. How many jobs are worth a couple hundred million? And he would still have many hundred million left.

This actually seems plausible

Nah. Not buying it. Even fat cats tire of the games. Cote's got hundreds of millions to spend and time's a wastin'.

Agree with this history except the last sentence. Bonsignore had a deal in the works with United Technologies that would have moved headquarters to Connecticut and would have gotten him out from under the Allied Signal Board of Directors he was hamstrung with. Someone on the board snitched him out to Welch which got the GE thing rolling. When GE fell through what else could be done? Replace the board or replace the Chairman. So they bring Allied Signal Chairman Bossidy out of retirement to figure out who to bring in next, Cote. If this was a Honeywell buyout of Allied Signal instead of the other way around, things would have been a whole lot different with Bonsignore running the company with a board that was on his side instead of against him.

Here's some info pasted in from the Honeywell Wiki; I also doubt it would be tried again.

In October 2000, Honeywell (then valued at over $21 billion) accepted a takeover bid from then-CEO Jack Welch of General Electric.[21] The American Department of Justice cleared the merger, while "GE teams swooped down on Honeywell" and "GE executives took over budget planning and employee reviews." However, on July 3, 2001, the European Commission's competition commissioner, Mario Monti blocked the move. This decision was taken on the grounds that with GE's dominance of the large jet engine market (led by the General Electric CF34 turbofan engine), its leasing services (GECAS), and Honeywell's portfolio of regional jet engines and avionics, the new company would be able to "bundle" products and stifle competition through the creation of a horizontal monopoly. US regulators disagreed, finding that the merger would improve competition and reduce prices; United States Assistant Attorney General Charles James called the EU's decision "antithetical to the goals of antitrust law enforcement." This led to a drop in morale and general tumult throughout Honeywell, and in turn, the then-CEO Michael Bonsignore was fired as Honeywell looked to turn their business around.

Haven't heard and I doubt it.

Thread regarding Honeywell International Inc. layoffs

Any truth to this?

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