HON stock is down ~6% from a year ago, and still sliding down and down. Its peer GE is up ~9% from a year ago and keep climbing. DOW is up ~13% from a year ago.
So it's not the market, it's Honeywell that is dying. Is that right?
22 replies (most recent on top)
Exactly. Our political system serves the donors now. The donors are the ones who pay for political campaigns so they are the ones who call the shots. The donors own massive amounts of stock so they will do whatever they can to protect their own financial interests while the rest of us pay the price.
When allied signal bought Honeywell. The dying process began. Stripped all benefits away from employees. Eliminated all employees with experience.
Removed all employees who were making the most. Replaced with all college students. No more mentors to help these people out.
Engineers get all of their advice from group leaders. Who have no idea what going on. The group leaders gutted the process in order to build more parts. The group leaders and their great wisdom. Tell the engineers that there’s no need to have certain processes in place. Now they can really build parts fast.
However, we now have 11.4 days of parts that most be torn down. Since it failed. So we gotta start over with them. In other words they must be torn down.
Then we rebuild them again. So you basically build the same part all over again, after three times. We get to reject them as scrap.
It doesn’t help when they pay their suppliers or anybody else. Six months later. Well I guess we’re not getting the best possible parts. Do the fact we pay our bill every six months. Instead on a monthly basis.
Try paying you bills monthly. You might not have a supply issue. If you paid them on time, maybe we would get parts built-in to print. Instead we get parts in it made to print. Which get rejected. However, in the long run it screws up our production. End results! Customers don’t receive their product on time.
The sad thing about this whole thing. I haven’t figured out why the federal government. Doesn’t do an audit on Honeywell. Instead they allow Honeywell to do their own audit. Sounds familiar.
Boeing was allowed to do this. Look what happened.
The funniest thing I’ve ever seen Honeywell. Honeywell has contractor officers. These contractors never do their own audit. Maybe it’s a good thing they don’t. We would probably lose contracts. Better yet they might even close us down.
These federal agencies don’t do their job. You have a government. Which is controlled by big business. Special interest and lobbyists. When this happens you get a Boeing and Honeywell. The list probably goes on forever.
Absolutely. The problem that vampires have is that they always need fresh blood to continue living. If your organization operates primarily through crushing and draining the life out of its workforce then it's only a matter of time until it runs out of people. The terrible reputation that follows only buries it further as it loses the ability to attract talent.
We have lost a ton of ppl in Aero. Not one was because of the mandate. I myself am leaving. Has nothing to do with any mandate. It’s because in the last 10 years HI has become a terrible place to work.
The thing is even if there was no mandate they would have still left that was just a reason for them to leave quicker and find a new job. The main driver here is the company treats the employees like garbage and has been going on for years.
As other people mentioned Honeywell will most likely split/sold off into 3 companies. 1 Aero company, 1 PMT company and another which is HBT/SPS company since they are pretty related unlike the other 2. It logically makes sense because none of those businesses are related and everything works so inefficient with how the company is currently structured similar to what happened with Transportation and Homes.
The mandate did drive some attrition. We watched key roles be vacated not just regarding mandate enforcement, but the method of tracking vaccine status. Lots of people on this thread claiming good riddance or whatever, but the people that left are not easily replaced and they are still good people. To say we didn't lose anyone from the mandate is just false.
@2edn - I have seen 2 new hires in our group arrive at Hon and spend their time looking for others jobs, not doing any work and leave within a 6 months. Reason - no training, no mentor, no buddy system, no plan for them, no help. The boss hired and ignored them. There seems to be a corporate belief that anyone can do anything, bring in some fresh new ideas from the outside and things will be great. How do you expect someone to do a job that has never seen the parts before, has never used the ERP system - w/o a little training. Such a waste
@1ysz - GE market cap was over $500B in 2000, largest of any company, and is about $100B today. GE stock it has gone nowhere for the past few years years, minor ups and downs. They did do a reverse split, 1-8 or 1-10, something like that, a couple years ago because you don't want stock to linger below 5. They have sold off a lot of divisions, made some poor purchases, much smaller company today. I think they announced splitting into 3 companies in 2021. Honeywell is on the same track; current Corporate leaders do not care about the products we make, just want to sell everything to raise cash - and reduce headcount.
@qge - referred to as capitalization phase. Don't forget dividends and buybacks, like IBM.
What Is Dead May Never Die
So the person that wrote Brandon vax mandate gets upvoted but the people writing actual responses why Honeywell is going down get downvoted. More reason to leave this website since most people writing responses don't work at the company.
Honeywell’s name will still exist long after this posts gets pushed and deleted. It may change its scope several times over, stocks may appreciate and depreciate along the way but the name will remain. Quit being a pessimist for its name will far outweigh any disgruntled remarks hurled at it. The people running, though is a different story
Honeywell was a failing company far before vaccine mandate. Stop writing because you don't know what you are talking about.
Main reason is most people that work at the company don't try anymore. Why work hard and get no promotions, lower than inflation raises, no recognition for hard work, no innovation, and no place to be creative for engineering. People get hired but end up quitting after 6 months because it's not what the job is and what HR and Hiring managers advertise it to be. So many have joined and quit the Atlanta office they have so much difficulty finding anyone because they went through so many people in a city and the company now has a bad reputation in that city, nobody wants to join it.
vax mandate didnt drive attrition.
- Lack of commitment to new products,
- grossly uncompetitive benefits, bonuses, and wages,
- Constant signalling of an in-office-forever mindset
That is what sent the best and brightest to our more nimble and visionary competition. Nobody under 50 believes there is a career here..
Ask anyone over 50.
HW avoided 2021 RIF by using of Brandon's vax mandate to rid its employees without severance. Seems like a smart move, and extremely evil of course. But what they "saved" in short term may cost them more in the long run.
We are to expect RIFs even though HON claims to have Labour shortages?
That would solve several problems highlighted in the quartet call.
HON could use the savings for stock buy backs and dive d increases to prop up the stock price.
Speaking of masks, has anybody checked out the Cuper mask website? Seems like they are always out of stock? Wonder how much money was flushed on this endeavor?
Mike Mike proud, his time is now problay limited. I predict Waldron from SPS inherits Aero.
Agree with everything posted here, worked for Hw for over 13 years and the last few in GSI. The strategy is very clear to spin off, close and consolidate so they can sell pieces off...all the while...cutting its biggest cost....PEOPLE. The global footprint is such a mess that it is taking longer than they would like, not to mention all the new leaders at Aero have no clue what each site actually does, so it's pretty hard to go fast, but the end game is the same and they will get there and the numbers are starting to show. The same people that say HW will always be there are the ones that didn't think GE would be where they are today.
The replies here are spot on
Ge hasnt gone anywhere but down since the turn of the century.
Reverse stock splits saved GE from being a penny stock.
Ge is a picture of honeywell's most probable future..
a long painful slide into irrelevance.
Honeywell forge is GE predix.. with less investment and much less talent.
Honeywell has wisely avoided the financial arm that brought GE to its knees so good that.
No new products to differentiate from the masses even in the old guard aerospace businesses.
Vampires dont die, they just suck the life out of the next young thing. When they run out of young victims they hire more. Occasionally the most ambitious victims get spun off into a new vampire.
It’s been dying for a while only hiding behind unsustainable RIFs to keep growing earnings and margins
They can’t hide revenue continues to decline. Analysts just like the stock because HON treats them like royalty
Eventually they spin it all off and apart— and top leaders retire richer
Eh, Honeywell is just in the later stages of corporate evolution.
It's done innovating and building for the future. Now, it's all about outsourcing, licensing, off-shoring, etc. Cut the internal expenses to the bone, and do whatever it takes to keep the stock price supported.
The eventual end of all of it is spin-offs of the different subsidiaries (as what GE has planned) or an eventual merger (as in McDonnel Douglas/Boeing).