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CEO Michael Bonsignore has the company focused on meeting its goals and keeping its promises. Honeywell may be out of the woods.
Solomon Eskinazi, Robert F. Bruner and Sean Carr
On March 1, 2001, Jessica Gallinelli, managing director of Bancroft Capital Management, heard surprising and somewhat disturbing news about the proposed bid by General Electric…
Abstract
On March 1, 2001, Jessica Gallinelli, managing director of Bancroft Capital Management, heard surprising and somewhat disturbing news about the proposed bid by General Electric Company (GE) for Honeywell International Inc. Despite recent public assurances about the deal from GE's chairman and chief executive officer (CEO), John F. “Jack” Welch Jr., the antitrust regulatory authority of the European Commission (EC) announced it had initiated a review of the proposed merger. Gallinelli, whose fund owned a large stake in Honeywell, considered this major development and wondered whether Bancroft should alter its investment. Immediately, Gallinelli instructed her associate to provide background material on the merger, an assessment of the probability the merger would be approved by antitrust regulators in the U.S. and Europe, and valuation analyses to assist Gallinelli in assessing Bancroft's investment in Honeywell. She would need to decide quickly whether to hold or sell her fund's 10 million shares in Honeywell and short position of 10 million shares in GE. As a risk arbitrageur, she thought prices would respond rapidly to the EC's announcement. She remembered Jack Welch's confidence of five months earlier that this was the “cleanest deal you'll ever see,” and she wondered whether that was still the case.
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This paper is a case history of the introduction of Just‐in‐Time (JIT) into a company in the electronic capital goods sector of the Scottish electronics industry. The case…
Abstract
This paper is a case history of the introduction of Just‐in‐Time (JIT) into a company in the electronic capital goods sector of the Scottish electronics industry. The case attempts to identify the company policies that led up to the introduction of JIT, the difficulties encountered and the benefits that the company has accrued in the short time since the introduction of JIT, with particular reference to the productivity/service trade‐offs. The company examined designs and manufactures complex, high technology, fairly high volume, short life‐cycle electronic products for international markets. Very high levels of quality and reliability are required by customers. Consideration is given to how the benefits that this company has accrued may be obtained by other companies both in the same environment and in other environments.
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Sarath Lal Ukwatte Jalathge, Hang Tran, Lalitha Ukwatte, Tesfaye Lemma and Grant Samkin
This study aims to investigate disclosure of asbestos-related liabilities in corporate accounts and counter-accounts to examine whether and how accounting contributes to corporate…
Abstract
Purpose
This study aims to investigate disclosure of asbestos-related liabilities in corporate accounts and counter-accounts to examine whether and how accounting contributes to corporate accountability for asbestos-contaminated products.
Design/methodology/approach
This study uses the Goffmanesque perspective on impression management to examine instances of concealed asbestos-related liabilities in corporate accounts vis-à-vis the revealing of such liabilities in counter-accounts.
Findings
The findings show counter-accounts provide significant information on liabilities originating from the exposure of employees and consumers to asbestos. By contrast, the malleability of accounting tools enables companies to eschew accounting disclosures. While the frontstage positive performance of companies served an impression management role, their backstage concealing actions enabled companies to cover up asbestos-related liabilities. These companies used three categories of mechanisms to avoid disclosure of asbestos-related liabilities: concealing via a “cloak of competence”, impression management via epistemic work and a silent strategy of concealment frontstage with strategic reorganisation backstage.
Practical implications
This study has policy relevance as regulators need to consider the limits of corporate disclosures as an accountability tool. The findings may also initiate academic and practitioner conversations about accounting standards for long-term liabilities.
Originality/value
This study highlights the strategies companies use both frontstage and backstage to avoid disclosing asbestos-related liabilities. Through analysis of accounts and counter-accounts, this study identifies the limits of accounting as an accountability tool regarding asbestos-induced diseases and deaths.
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Describes Honeywell’s multi layer fieldbus system Smart DistributedSystem (SDS) and applications in various industries. Discusses benefits suchas increased operating efficiencies…
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Describes Honeywell’s multi layer fieldbus system Smart Distributed System (SDS) and applications in various industries. Discusses benefits such as increased operating efficiencies and reduced installation costs
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Noel M. Tichy, David L. Dotlich and Dale G. Lake
Growth in the maturing mainframe computer market faded in the 1970s. In the early 1980s, growth in the minimarket stopped. The environment facing Honeywell Information Systems was…
Abstract
Growth in the maturing mainframe computer market faded in the 1970s. In the early 1980s, growth in the minimarket stopped. The environment facing Honeywell Information Systems was increasingly hostile. Honeywell is now making cultural transformations to revitalize the company.
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In this paper, a server‐based enterprise collaborative management system using enterprise application integration technology is developed for trial implementation at Honeywell Consumer Products (Hong Kong) Limited, in the area of supplier relationship management. The system facilitates supplier selection using an integrative case‐based supplier selection and help desk approach to select the most appropriate suppliers, based on their past performance records from a case‐based warehouse. Discusses a case study to integrate Honeywell's supplier rating system and product coding system by case‐based reasoning technique to select preferred suppliers during the new product development process. Finds that the outsource cycle time from the searching of potential suppliers to the allocation of orders is greatly reduced while performance of suppliers can be monitored simultaneously.
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Agreements for the manufacture and use in Britain of a range of the most modern U.S. gyroscopes have been signed by the English Electric Co. Ltd., Marconi House, Strand, London…
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Agreements for the manufacture and use in Britain of a range of the most modern U.S. gyroscopes have been signed by the English Electric Co. Ltd., Marconi House, Strand, London, W.C.2. The agreements are with Honeywell‐Brown Ltd., of Perivale, Middlesex, and the Minneapolis‐Honeywell Regulator Company of Minneapolis, U.S.A. They also provide for an exchange of information on future gyroscope developments. The gyroscopes will be made by English Electric's Guided Weapons Division in a specially designed new factory at Stevenage, Hertfordshire. Marketing, both at home and overseas, will be done jointly by English Electric and Honeywell‐Brown Ltd., which is the British associate of Minneapolis‐Honeywell.
THE FAA has certified the Honeywell/McDonnell Douglas Windshear Detection Alert and Guidance System on the McDonnell Douglas MD‐80 series aircraft, the two companies announced.