CALIFORNIA | LOCAL
March 28, 2012 |
Edson Spencer, who as head of Honeywell Inc. first battled IBM's dominance of the computer market in the 1980s, then gave in and focused his company on automation and aerospace technology, has died. He was 85. He died Sunday at his home in Wayzata, Minn., after battling progressive supranuclear palsy, a neurodegenerative brain disease, his family said. In his 34-year career at Honeywell — known as Honeywell International Inc. since its acquisition in 1999 by AlliedSignal Inc. — Spencer rose from an aeronautical engineer to the company's chief executive from 1974 to 1987.
October 25, 2001 |
HCA Inc.'s third-quarter profit rose 47% as the biggest U.S. hospital chain attracted more patients and raised the prices it charges managed-care insurers. Net income rose to $256 million, or 48 cents a share, from $174 million, or 31 cents, a year earlier, the company said. Revenue rose 8.4% to $4.44 billion. Some investors were disappointed that profit only matched analysts' estimates, sending HCA's shares down 5.7%.
July 14, 2001 |
Honeywell International Inc. will consolidate operations into four units, as Chief Executive Lawrence Bossidy moves to reduce costs after General Electric Co.'s planned purchase of the company collapsed. Chief Operating Officer Giannantonio Ferrari will retire immediately, spokesman Tom Crane said. Estimates weren't available about how much will be saved by combining the eight divisions into aerospace, automation and controls, specialty materials, and transportation and power units, Crane said.
June 27, 2001 |
Through their different political, economic and legal lenses, U.S. and European antitrust regulators occasionally see the risks and rewards of mergers very differently. Nowhere is that difference more visible than in the proposed linking of General Electric Co. and Honeywell Inc.
June 19, 2001 |
Honeywell International Corp. on Monday reaffirmed its full commitment to its troubled deal with General Electric Co., despite objections by European Union regulators with competition concerns about the $41-billion merger. Honeywell's board of directors "expects that GE will do everything possible to secure regulatory approval for the transaction," the company said in a statement after the board of directors met at the company's Morris Township, N.J., headquarters.
January 2, 2001 |
General Electric's pending $54-billion takeover of fellow Dow Jones industrial average component Honeywell will present the keepers of the Dow index with a slot to fill. Changes in the 30-stock Dow are relatively rare, because Dow Jones & Co. emphasizes the index's long history (dating back to 1896) and continuity. But like the Standard & Poor's 500, the Dow has gained more tech members in recent years.