Anybody heard when town halls will be held on ReOrg? CFO says before October 20 earnings call but how much before. Anyone know if the large conference Morris Plains rooms are reserved yet which would indicate the day of announcements???
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Good call 4zvy
Announcements will probably be the week of October 9th
They need time to review quarterly close and make final decisions on what to keep what to spin off and with quarter close data the final price of pieces they are selling immediately
And probably want the noise to settle down before October 20th earnings call
wow, that manifesto would make Ted Kaczynski proud!
Any Additional input? The photo of a Honeywell age and service chart is interesting. With the discussion around layoffs and RIF's, etc. In the mid 1990's salary employees at Allied were required to choose either a traditional 60 or 80 point pension with retiree medical or a lump sum based on a specific lump sum formulation they provided at the time. Your pension or lump sum decision could not be changed, once you submitted the signed paperwork. Move forward 15-years, since then our retiree medical has been terminated and were told by Honeywell they that studied the situation and Obamacare was a much better option of retired Honeywell retirees, so they were terminating the healthcare retiree benefit. Also I had read a post that all traditional pensions except for senior leadership been eliminated for those hired after 2012, but they could still enroll in the Honeywell 401-k.
It appeared to me that many were discriminated against and forced out around 50 years of age due to the back loading calculation weighting of the years of service pension benefits and that the Honeywell healthcare was self insured, with the Cigna, Blue Cross, etc as the administrator or their self funding of health insurance. It appeared As many as possible job and plants were moved to Mexico, China, India and the former Eastern Europe countries were super lower wages, no benefits, poor labor laws, never limited regulations or safety standards to reduce cost and improve margins. A photo of a chart along with individuals involved such discussions, along with the past layoff history of sequences of evidences may show massive discrimination based on age and years of service to reduce and manage cost of retiree benefits to the benefit of the corporation.
Have you ever thought that Honeywell has discovered that as WFH (Work From Home) has increased some employees have taken advantage of the situation, of being able to work from home, not supervised and that they are not working 40-hours a week, for which they are being paid and spending hours each day doing their house work, personal projects around the house, shopping, dropping off and picking up kids, going to the gym, running errands, taking 2-3 hour lunches, watching TV, playing video games, reading books or articles on the internet for pleasure, watching porn, s-xting, attending to personal emails, paying bills, reading the home personal mail, chatting in chat rooms, posting and reading on social media sites. Many appear to just monitor their work phones to respond to the office or manager when they get a call or when they have to attend a conference call. It's a great job as long as it last or until the RIF hit home to make up for the lack of productivity, cost to the business and lack of business growth. As a result all employees have lost the privilege and personal benefits of working from home.
2vey...
Careful what you wish for. HON Aero is one of the top paying companies. I'm afraid that if we get bought, wages and benefits will get even worse (if that's even possible),
Solid HBT "rumors' have been out there for quite a while. GE could close their deal. HON must have problems closing theirs - if there is one.
Where is the 'like' button? Can't wait to be sold to a company who wants us.
Would be tempted to confirm that there are several signs around big transformation inside HBT... will see what happens between Q3 closure and Earning call...
they reorg all the time because leadership is incompetent
They should reorg already and announce leadership is incompetent.
https://www.morningstar.com/news/dow-jones/TDJNDN_201709252709/challenge-for-honeywells-new-ceo-keep-up-the-winning-streak.html
There is no question that Honeywell will follow proper procedure in making any announcement. I work in HBT and believe that there will be an announcement regarding all or part of HBT being acquired between the end of the quarter and the earnings call. Some of the things that the company is doing to collect past due accounts before the end of the quarter are extreme. We have always tried to bring in as much cash as possible to close out the quarter, but some of the settlements that are being offered to customers with large past due balances if they pay the agreed amount by the end of the quarter border on crazy. I guess we will have to wait to find out, but my money says that will no longer be part of the Honeywell portfolio soon.
Agree the SEC would require public notification first. Quarterly SEC earnings are at 8:30am and we usually have town hall an hour later. Those meetings are booked with plenty of advanced notice so the investors can plan on joining and so employees can go to big conference rooms
We should know when the announcements will be several days before because of the logistics of planning and giving investors time to plan on joining the call
vmb is correct in the sense that we will be told AFTER any significant change is formally announced with press release to the world.
It wouldn't be announced in a big conference room. Honeywell is a publicly traded company so it would need to be a press release. SEC disclosure rules.