What will happen if Aerospace is sold? How long does it takes a transition?
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There will not be a spinoff. HON leadershit isn't done running AERO into the ground and extracting the value yet. There are still millions in bonuses to be made with more RIFs, furloughs, and benefit redictions. Once there is nothing left to sell in AERO, all the desks and chairs have been sold to produce shareholder value, all the tools and equipment have been sold off right and fast, only then will HON dump AERO.
Not.going.to.happen.
The Q2 results call Darius says he will announce decisions for all areas of the company in September. Go to investors sub page of Honeywell.com. Listen to earnings call near the end They record the call and save for a few weeks. He said don't cancel your August vacation it will likely be after that as I said before we will announce late summer. Was probably at the last 10-15 minutes of the call
When PMT did their spinoff of Advn6 the pensions ended. If you had a pension with HON or the other acquisitions 14 active plans it ended when Advan6 went live. Some people had the option to stay a Honeywell employee others did not
I don't think that Morris Plains is going to do anything since the normal reasons for splitting up a company, such as what happened to Alcoa/Arconic, aren't there. Plus, ego comes in to play and does new MP leadership really want to preside over a much smaller company. If Aero is split off, I don't see a compelling reason to keep up the current madness since TM no longer has to support the less profitable parts of Honeywell.
I doubt that the best interests of the workerbees is a factor
I wonder if older employees then have a choice to retire under Honeywell funded pension or stay on for spinoff company.
Does it make a difference long term say 10 years down the road for funded pensions.
hike hike hike!!!
A spinoff is different process from a sale.
A spinoff would make Tim and the ALT the top dogs with a new board of directors that would give them a big pay raise for running their own public company. A sale would probably see Tim being asked to take a hike by the new owners to save money.
I wonder what option the ALT is campaigning for?