I hope not. That same company produced Dave Cote, an ardent Jack Welsh golden boy and a world class jacka$$. After Allied Signal ruined their own name, they bought Honeywell. Then Cote was brought in to be the CEO and finish the job of destroying what used to be a good company. I spent more than a decade at Honeywell and had to get out of that toxic mess. The last thing we need is GE to come in and make a bigger mess of everything.
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The soon to be sold off business unit, "Avionics", is made up of military and civilian contracts for flight controls, radios and navigation systems. Layoffs will take place to reduce the number of mouths to feed, making the unit more attractive to perspective buyers. L3HARRIS may have a market cap of $37 billion but over $9 billion (25%) is debt. Company stock has lost substantial value in the past year. Current contracts are over budget and behind schedule. The company will reduce it's real estate footprint by consolidating facilities to areas of the country with lower labor costs. The sale is hoped to generate $1 billion but a holding company will buy it for much less. Everyone involved in the avionics business will be let go. Most without much warning.
What exactly is considered "Avionics Division". Is Greenville part of that? The news articles don't really specify:
"L3Harris Technologies Considers Sale of Avionics Business"
L3HARRIS will sell it's Avionics business according to sources within the company.
"Leaning" L3Harris is the case basis. Buy the bloated business and turn it around with cost synergies. AJRD is case of best use for the nation.
L3HARRIS is too bloated to be acquired whole. The company will spin off entire divisions into smaller standalone companies, taking a good share of L3 Harris's debt with them. The spin-offs will be acquired by others. The ASRD acquisition will go through. GEAero has walked away.
Maybe it is just that the AJRD acquisition is facing problems and GE will bail LHX out of the acquisition since they have shown interest in the past? Hard to see GE Aero taking on all of LHX or another merger but I guess you never know.
They are dropping hints that GE Aero (Cincinnati, meatball, Jack Welch) is going to acquire L3H. I just don’t see it happening and there’s nothing substantial to corroborate this.
Like the man said, you'll recognize it when you see the meatball.
The meatball will be good for you.
Too many cryptic messages here. Who is that company? What are they going to do? I seriously doubt that any company that comes in or is consulted with is going to stop L3 Harris from spiraling down. The L3 location in Clifton is going through supervisors faster than coffee filters. They are behind schedule and over budget on virtually every program. A couple of major programs have been suspended indefinitely because they can't work the problems out. Poor workmanship, poor leadership, and virtually no quality control. The technicians, supervisors, and inspectors who knew what they were doing have left the company or been driven off. They have been replaced by "social justice remedies". In other words, identity hiring. The phrase " go woke, go broke " fits this company to a t. The proof of their failed ideology is in the numbers. Numbers don't lie. The company stock has lost more than 20% of its value in the last 12 months. In the context of the title of this site, layoffs are indeed coming. And not soon enough.
Meeting at Bernstein
Is this why there is a hiring freeze for new grads and interns?
Get ready for the Meatball.
Some of us will be coming full circle if that company swoops in...
It is a two-letter company that is currently (but not for long) in the power business.
Are they in the propulsion business?