augie_the_gasman, I left in 2010. Like you I ran checks on all residual benefits that might be laying around Bendix/Honeywell. I received printed confirmation of all of them and yes, the death benefit is still there. The Honeywell retiree medical was no bargain. If it was still around, I wouldn't be using it anyway. Between Madicare and the supplements, I have better coverage at a lower price. The Rx could be better, but based on a recent conversation with some seniors still working, the company employee Rx coverage is not as good as what we have with Part D. Of course, which drugs you are taking can greatly impact the individual results.\
Back on September of 2009 the announced that they were discontinuing health benefits for "future" retirees, so I assume the discontinuance of life insurance is not retroactive but rather going forward.
Since I departed after 2009 I only received health coverage thru my severance period...then it ended.
You are correct about after-market health coverage. I too have Medigap which is a little pricey, but no deductable or out-of-pocket expenses...(except prescriptions)
With all the educated people that are out of work, I am surprised that they have not yet discontinued subsidizing employee education.
I didn't receive a letter on discontinuation of the retiree death benefit so I assume that this benefit continues on. Came up through the ranks on the Bendix/AlliedSignal side and employees were given a retiree death benefit based on salary and length of service. There is more than enough benefit to cover a wake/funeral and open bar repast luncheon afterwards. The final amount due upon death is difficult to find but I did print out the benefit amount at the Hewitt benefit site before retirement. After retirement, the amount is no longer indicated at the site. I called awhile back and they told me that the benefit was viable. The benefit has been payable in recent retiree deaths as far as I know.
And YES - we were overpaying for over 65 retiree health insurance and now getting better deals on Medicare Gap coverage plans.
a pension is free money ..quit whining..most companys now don't even pay them ...you are an ungratefull loser as are all most Honeywell workers who post here
That had to be the cheapest trick to date. Sure glad I dedicated 43 years to Allied/ Honeywell. Guess someone has to cut costs to pay for all those exec. benefits. The dropping of the Retiree medical was a blessing as I found out that it was no bargain. We were paying most of the cost. I got better coverage 5 years ago for my secondary for a much reduced cost from AARP. Now I hope they don't find some way to screw us out of our well earned pension.
Seems like HON's re-entered the "bottom of the barrel-scraping" era ala late-'90s.
I mean, cutting the non-contributory $2,000 death benefit for all active and retirees?
What does that one-time 'extraordinary' come to ... probably not even one month's net profit?
Oh yes, Tankers
As big as this administration claims to be in enforcing EPA regulations, it amazes me that approx. 70% of existing tankers in operation do not meet current safety standards, including; having double hauls so in the event of a derailment they do not leak crude, thereby starting fires which pollutes the air and creating severe health concerns in surrounding communities, nor derail into streams or rivers and in some cases deaths.
In the last couple of years there have been noteworthy derailments in, but not limited to;
A pipeline would be much safer and far less polluting than the current method of transportation
The glut also puts a damper on continued new production in the US, and coupled with the potential Veto over the Canadian pipeline (short sighted by the Prez) prevents the US from continued dependency by other oil producing countries.
The oil is currently being moved by a friend of the White House, Mr. Warren Buffett over rail.
With this kind of mentality, the US will never be in control of its own energy future or be a substantial player in the market.
"Saudi has no intentions of cutting back on production, so it is likely of continuing its drop"
Yes, and Saudi and the US also recognize the lost revenue also has a dramatic affect on ISIS and Russia
Yesterday, a news report stated that ISIS is now operating as though it is its own country with a $2 Billion budget for 2015 and the funds stored in the bank in Mosel........
Please drop a bunker-busting bomb on that bank(smile)
The dollar is pounding big international companies such as CAT
Hey News - where you been? No split yet - just Uprights wishful thinking. Still in touch with most of old gang. Honeywell been good to us while you were gone.
A split, more liquidity and maybe this chunk of lead, in smaller pieces, will have a chance to rise. If it splits 2 for 1 and goes to $50/share my guess is it will be at $75/share by the end of 2015 (on twice the number of shares). Others can just cross their fingers and hope it goes $150/share without a split. Complacency. It will never happen. Even the Jefferies report today didn't help any.
Anyway, a Happy, Healthy and Prosperous New Year to all of you!
Not much movement anymore. I do believe a 3 for 1 Stock Split would increase liquidity and create more demand and propel this stock upwards. A Mack truck couldn't move it now.
Rex - I left the eggnog out and drank all brandy.
It's been another good year. Gotta make it while the making is good because eventually will lose some off the top at the beginning of the next recession. Hope we have a repeat next year but may get roughed up in the middle of the year.
Everyone have a great Holiday.
For Upright, From Santa
Twas the night before Christmas and Honeywell still not split when up on the roof there arose such a clatter, I jumped out of bed to see what’s the matter. When what to my bloodshot eyes should appear but a brilliant CEO so smart and so quick I knew in a moment that Cote must be Saint Nick. Then Cote held his hand out with an Investor Relations Release “A STOCK SPLIT FOR ALL AND TO ALL A GOOD NIGHT”. "Now Bossidy, now Bonsignore, now Agee, now Burnham, now Hennessy, now Mosher, now Honeywell, now Bendix, over these walls, over these walls or I ’ll cut off your . . . . . "
To my surprise it wasn't a stock split that prompted HON to close over $100. It was President Obama's new Cuban Policy and the rally it caused. It really is true that a rising tide lifts all boats. Thank you President Obama for your foresight.