There is a cancer that started out small...it could have been removed with quick and quality treatment. It could have been saved but no one paid attention, no one believed that it could grow & become worse, no one did anything to stop the unhealthy behaviors. Now, the cancer has metastasized throughout every area and is malignant, killing all the healthy cells in its way.
It will take a miracle now to cure it.
This is how I view what has happened to this once vibrant and healthy place. RIP
Yes, very sick - out sourcing has ruined a great product line !
Earnings beats means lowering your guidance then jumping over the shorter hurdle and right now WS is ok with this game. One day they wont, there will not be a bell ringing to alert. WS was given 8 trillion $ under O Bama. There is still a lot of this cash sloshing around and some sloshes into markets. This has driven markets up last 8 years. Companies basically just need to have a pulse, and a good story. Japan and China governments buy their markets too. Rigged game
@3ksz, I agree on your thermostat assessment. The best is far and above the lyric unit. Further, I have a zero HON product policy for my home. I refuse to buy ANY Honeyhell branded products to include furnace filters, Fram or Autolite products, bendix products, fans or heaters, thermostats, etc. I have purged my home of all of these garbage products and I urge others to do the same.
It was another strong quarter as far as wall street is concerned. With the mix of short and long cycle businesses, Honeywell is positioned to continue making their quarter for at least the next two quarters, but then they will have some problems. If you look at their short cycle businesses, they are not performing very well and that will catch up to them. In HBT the distribution business continues to do well, but the products businesses are not doing well. What that means is that Honeywell is showing growth selling their competitors products in the distribution business at substantially lower margins. Our design teams should start looking at what our competitors are doing with their products. I just did a comparison and tested the Lyric against the Nest and I don't know why anyone would buy a Lyric. I personally see more cost cutting for the balance of the year and will be getting my resume updated and sent out as quickly as possible.
Honeywell is symptomatic of our times. Trumps placing the MOOCH as WH comm director says it all. MOOCH promotes GREED and so it is so with DairyAss and his minons.
HON still made it through another earnings report unscaved, had the story ready. Maybe 1 more, maybe not. Getting real close to the end, running low on bullets and stories. DC cares about DC, didnt leave much for Dairyass; doesnt care. Sure he will be on CNBC in future talking about whats wrong.
To poster @Ongfx88-1dvx- I would agree, that name has caused grief wherever it went. And if you not are a part of the Diggy group....well your just S.O.L.
And golden parachutes for all the culprits. Meanwhile, no raises plus furloughs for people doing the real work. Get out while you can.
Making HON great again and creating the best products on the market costs money and therefore, HON management has no interest. There is more money to be made by driving the company into the ground. Actually leading and managing a company is hard work, and a task to which none of the AERO ALT are qualified or able to do. Sell off product lines, get bonuses. RIF employees, cook books, get bonuses. That's the name of the game at HON. Nothing else. Extract all the value till there is none to be had then discard the corpse.
I agree that it is pure greed and a change from "how do WE make our product great" to "how do I reach that next stone to the top" It is mgmt not caring anymore about why they are there except to gloss their resumes. Helping their friends to positions they are not qualified for. No longer are the days when your manager is someone that leads and mentors and is qualified. The only qualification that they have to have is, can they have their employees meet the deadline of turning in their goals on time so mgrs above them get their bonuses. Can they make sure their employees are checking boxes, 5sing,etc. It is time to wipe the slate clean. Bring in qualified EMPLOYEES and focus on the reason we are there....to be the best at what we do best, bring in quality product, be the best customers, as a team and stop focusing on what new change can we implement to make it better. Just do it! Let's make Honeywell great again.
I believe it was Warren Buffet that stated something to the effect that when a company stops looking at their employees as assets and instead looks at them as liabilities, the company is doomed. We are doomed.
It comes down to pure greed. Check it out, public record with the SEC. "Insider" Dave Cote on 5/2/17 and 5/3/17 bought approx. 2.56M shares at prices from $28 to $58 per share and turned right around and sold 1.77M shares all at $130-$131 a share for a 2 day PROFIT of $129M. And how did he get all those stock options? From the Board of Directors...who do the same for each other! WE have to take furloughs so the books look better to get the stock price up so they can make more money.
The cancer started at GE and spread to Honeywell. You know, the old stacked ranking, 9-block, churn the bottom 10%, screw the old-timers. Management Guru's like Drucker and Deming would rate Honeywell as the worst of the worst. Pure, unadulterated greed. I've never seen anything like it.
More like Dr. Kevorkian; we killed ourselves. (Well, the "Powers that Be", did).
I name this cancer "Diggy"
Dr. Krishna
The cancer was injected into the company purposefully by leadership, which makes it even more tragic.