I wonder how the story of Raytheon's consideration of billion dollar sale of a services unit will develop further? Any thoughts?
The unit, which provides training for the repair and maintenance of equipment, vehicles and machinery, is likely to interest private equity firms, the people said. A final decision on pursuing a sale hasn’t been made and Raytheon could elect to keep the business, people said.
(excerpt from a Bloomberg article)
There are two aspects to this. Financial Health, Culture with Social Capital.
If you look at the 2020 10K and 10Q reportings their numbers look like garbage. But, that is to be expected merging with a Corporation (UTC) that had a tremendous amount of debt to absorb. I'm not making excuses it's just a fact. You'll have to see their numbers come 2022 to really see if they will be successful.
As far as Culture, Social Capital, and competencies? I think when people are posting "Raytheon S—s" they're actually making more cultural references for hiring, firing, pay, and promotional practices that are setting the tone for the working environment.
I agree that aspect currently has poor marks.
Raytheon technical services were basically Field support and Sustainment for military programs. Considering that can supply long-lasting regular income, its a bit of a mystery why they would divest themselves of that.
One could just surmise that stupid has just taken over much like Kodak (Google research it). They make dumb business decisions not truly understanding the market and putting all of their eggs in one basket. That being with Hypersonic technology and Space System development.
It's a huge gamble that could go either way, gambling is thousands of jobs. But, hey who cares as long as they get thier inflated paycheck.
Unless there are layoffs at legacy Raytheon, they are not in trouble inspite of poor management. Layoffs are the key indicator for success or failure.
I currently work in missile systems. I can attest to how poorly things are. There is a frequent question we ask ourselves here, how are we still open considering how poorly we are ran and the amount of sc-ap on a daily basis. Seriously, the sc-ap rate is obnoxious, bad workers won’t get fired, people making their own hours and schedules. I’m not whining. I’m just aware of what’s happening around me and I know this is not sustainable long term. Everytime we get a new project it’s the biggest cluster f—-. Not just one group, all parties involved in any new project turn it into a disaster. Blind leading the blind. Yes, missile systems is on the downward spiral.
Legacy raytheon missile systems is failing on contracts. High attrition. Etc. Massive changes and or sell off moving forward...
Are you saying the new company Raytheon Technologies is not doing great or legacy Raytheon is not doing great? The pandemic is causing layoffs in PW and Collins. So the new company RayTech is not doing great. But if legacy Raytheon (defense side) is not doing great why aren't there mass layoffs like at PW and Collins?
Raytheon is NOT doing great. Financially they are toast, contractually they are toast.
I'm telling you first hand missle systems is dying... FACT!!!
Raytheon is not dying. The defense side of legacy Raytheon is doing great and is what is keeping the new company afloat. IF UTC did not purchase/merge with Raytheon they would probably be in trouble. The question is Raytheon was doing great by itself so why the merger?
Raytheon is dying. Loss of contracts across the board including missle systems. No one wants their old a– products. They are in panic mode. Real stock value based on buy backs and quart performance and merger debt, etc, is -$18 a share...
I think this is referring to a legacy Raytheon business, Raytheon Professional Services (RPS).
journalist, hedge fund, or retail?
https://www.bloomberg.com/news/articles/2021-03-04/raytheon-is-said-to-consider-1-billion-sale-of-services-unit?utm_source=url_link
Makes sense to me “ specialize“ does not mean “ mechanical maintenance“ cost is high in that area too much sc-ap
What business unit is that? Also what other things are they looking to offload other than the ones to BAE?