Those of us who remember the old AiResearch/Garrett/Sperry etc. that the current Honeywell grew out of know the founders valued the workers and the country flourished. They shared the wealth with good pay. The current crop of leaders don't value anyone except themselves. It has turned into a selfish world at the top.
http://www.latimes.com/business/la-fi-federal-reserve-powell-20180717-story.html
Honeywell is stories.Wall street is stories. A match made in heaven at this time. You are told to watch the town hall to see executives giddy, telling stories about cars, teen age daughters and college tuition. These guys will be gone with big bank accounts when things start to turn south. Borrowing from the future to raise cash now. The plan is not to make Hon great. HON is the next GE waiting to happen.
Leaders are being held accountable...their bonuses may be reduced from $10m to $8m, which would be a tragedy.... ;P
@1lnp and others in the know.
You are saying we have $600 Million in final assembly delayed waiting for parts, that have not been ordered( guessing due to statement about supplier contracts) and for s lack of qualified staff to install, Is that correct?
I can see why the prior VP Was bounced for letting $200m build up. While a back log of $200m might be excusable letting grow to $600M is inexcusable and might even be considered sabotage.
If this all true, why isn’t Esposito, Mahoney and the rest of ALT (even Darius) being held to same level of accountability as the front line employee?
Just unbelievable?
There has been product bought to support products that may be obsolete in the future but the mess we have now was made by the Aero ISC VP. Didn't have any clue about supplier contracts, drove off or RIFed critical employees and now we sit with incomplete products missing a component so we can't assemble and ship to the customer. And not enough employees to do the work. It isn't going to get better any time soon no matter what bull is being fed to Corporate.
I worked in the electronic area (Deer Valley) from 2003 thru 2006 and yes there was a LOT of inventory held as OBS or Life time buy but for inventory purposes the inv. value was written down to almost pennies. AS an example: Hon. might have spent say $100 M buying it, the total inv value was probably held at maybe $1M.
1msd. Obsolete part life time buy is true. However, I do not know the $ amount. What is funny/sad is that every time there is big inventory reduction $ push and of course 5S push, millions of dollars of those parts get thrown out. The right hand has no idea what the left hand is doing.
I was told years ago that a lot, an unbelievable amount, of AERO inventory was semiconductor chips. Bulk purchases of items that will be obsolete and not available in a few years that must be kept on hand to avoid buying counterfeit products years later. Conversely, Engines inventory was relatively modest but squeezed to compensate.
You couldn't be more right about the wealth not being shared now. This new stinginess and outright meanness toward employees is sobering. Life is scarier today for a lot of people and all because of greed and the abuse of power. Once upon a time unions could push back.
It is going to be Software Industrial company. Remember. That is the new plan. Make money, no hardware inventory. I left last year, is that still the plan ?
@1lgq Its not huge inventories of finished goods because they aren't finished. Engines waiting for one or two parts for the whole engines. Customers are p-ss-d. The prior VP ISC was canned when his past due hit 200 million and this one is still around. The CFO and CEO bought the dog and pony show about past due going down when they were hear two months ago. I guess that says something about them.
Dang I left out management-shareholder-looting, employee-cutting, out-sourcing, off-shoring and in-shoring. Cripes how could I forget all of that? I'm just glad that Agile-ing, 5S-ing, and open-officing will save us all from everything. Get Happy!
But this is the era of the trickle-downing, tax-cutting, industry-consolidating, less-competing, less-pay-for-working, race-to-the bottoming, more-deregulating, ceo-boosting, media-n-Trump-lying, more-polluting, and higher-renting, all-for-your-average-american-benefitting. Don't you see, hear and feel the prosperity-uplifting in your workplace and neighborhoods?
can you shed some light on that past due amount.
i have never been able to reconcile (management) statements about AERO having Huge inventories of materials (finished goods.. what makes up the numbers?) Vs the huge lead times to get finished goods delivered. I would of thought that with a huge inventory we would be delivering to customers out of inventory not waiting to build??
Thanks
You can't share anything if you don't ship anything. Aero's past due achieved a new milestone this week. $600M. Our CEO must be proud.
Well sure they were the people who where trying to GROW their companies by investing in people and innovating technologies. Not like the current jokers and clowns, who do nothing more than slash the cost people, and R&D.