So many rumors of Aero being sold this year. There is nothing left to sell. No new products for Aero because no money was spent on R&D. A the experienced engineers are being let go. New orders are non-existent and current orders are all cancelled. Other than some legacy revenue and equipment, there's nothing worth buying. Game over.
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@3nij That article is from three years ago. Check the 2017 date on the WSJ article linked in it.
Let's try to have some accuracy instead of just posting things that we want to believe true. (Boy, wouldn't it be great if the media followed those same rules.)
https://www.aerodefevent.com/news/honeywell-decide-selling-aerospace-business-fall
Will they sell the strange particles sitting all over the desks in the 503?
Maybe Honeywell has been cooking the books for so long that it's finally catching up with us, just like Enron.
Took a little sc-apping with google. Any status updates?
This is a fun little read. Az Dept of Environmental Quality sued Hon in 2005. Read this and tell me the current leadership wouldn’t pull something like this now.
https://www.azag.gov/sites/default/files/2018-10/HoneywellFactSheet.pdf
It already is a superfund site. Look at adeq link.
There is no R&O because planes aren't flying. That's the final nail in the coffin.
Bigger secret about 34th St? It’s gonna be an EPA SuperFund site. The liability on that site goes all the way back to WW-II. There’s a reason that third runway hasn’t been built. This isn’t the first round of failed negotiation on that property.
Your problem is you are only looking at it from a production standpoint. Repair and Overhaul is where the business is at. That could easily be sold for top dollar as it is a cash cow. No one gives a sht about OEM for the very reasons you mentioned
@vxm Diamond Dave also has his new book titled, "Winning now, Winning later"....just go away Dave
Honeywell was already downsizing before Covid-19. This just gave them an excuse to minimize their financial failures. There is another piece to the puzzle that is either unknown by many and/or being overlooked. The entire 34th Street campus is currently on a lease from the city of Phoenix. It was originally a 100 year lease and there are 40 years remaining on that lease. Phoenix International Airport wants to add a 3rd main east/west runway and in order to accomplish that expansion to the north side of the airport, the Honeywell 34th Street facility will need to be be gone. The city has been buying up property in that area for years under imminent domain in preparation for this expansion. So it would appear that what Honeywell is doing, in addition to all of the other shutdowns and adjustments, is preparing to renegotiate an accelerated termination of that remaining 40 years on the lease so that they can get money out of the City of Phoenix as part of their edit plan. Nobody will admit that of course, but when you see it unfold eventually, the bigger picture will become much more clear.
We are a real estate company like McDonalds. They will make more off real estate holdings than products, except for the future EPA lawsuits that are guaranteed.
Don't be silly. Aero isn't for sale. Honeywell hasn't been investing in R&D for the past decade. To Honeywell, slashing engineering jobs is just cutting dead weight. They're just harvesting existing products, and they don't need a lot of engineers to do that.
The current business model of Honeywell is to buy up smaller companies, k–l their R&D, and then harvest their existing products.
When they run out of cash (like GE), Honeywell will suddenly become a software company.
It's just sad, Honeywell could have made a mint from just R&O exclusively, let alone with all of aero included, but greed got the better of them. Ever since Diamond Dave was introduced, it was slash, slash, slash. Well, at least the Diamond one has his island, right?
Sell everything! Sell the toilet stalls, the toilet seats, chairs, desks, blackboards. Everything must go!