Go to this article at Seeking Alpha....
They show some numbers about the different divisions within UTC. Everything looks like it is on the upswing except Sickorsky. That is the drain in my opinion. If they could unload a money loser, they will be even in much better shape going forward. Remember, they agreed to deliver the remainder of the Canadian A/C at ''No Additional Cost". That will hurt significantly. Comments please. Am I reading the signals incorrectly?
Big Steve- Glad to hear from you and if you are even close, I will be doing a Snoopy dance (Peanuts type) all the way to Disneyland!
Considering we hit $118+ recently, I would consider anything less than $120 by the end of March utter failure. Udder failure is when you try to milk a cow and nothing happens.
ctb.....I'll give that to you. I just hope they spin-off or sell S. That will bring in some cash. What the buyer will get is the prestige of the presidential and Back Hawk programs. Other than that, they will get a company that is hemorrhaging cash and a no-talent upper management. I truly believe that.
Hopefully Pratt's successes can make up for Sickorsky's failures. Pratt has always been the flagship of UTC. As Pratt goes, so goes UTC.
I am here and I have posted. And as far as being in FL...........my FL has snow over a foot high and I have to go out and do it again.
Kid- I went to Yahoo Finance and did a 2 year comparison of UTX, Honeywell, Lock Martin and Boeing. UTX was on the bottom with the other 3 outperforming for it over the 2 years.
Cramer is a loud mouth, self-promoting egomaniac and, IMO, has very little credibility. He does not bring much to the table.
To whom it may concern: YOUR president Obama, compared the GI Bill to welfare. How is that for a great Commander-in-Chump? Unfortunately, he is my president also. GI's earned the right to go to school under the bill. They payed dearly. Many troops serving in our military live below the povery level and they deserve better care from those they protected.. God bless them. Obama is a d#@*!
Kid, Agreed. Just what they worked for. I have no use for lazy people. But, I do not blame people for inheriting wealth. It's not their fault. We can hope but we cannot make wealthy people pass some down to the poor. The hard working, thru no fault of their own, poor. My wife and I do a good amount each year but I resent the government taking it and giving it to people that do not deserve it. Look at all the welfare fraud and food stamp fraud in the US.
Just what they worked for. And, after taxes, I want to keep what I worked for. I do not want federal and state government to take it from me and give it away.
They are going to have to make up that 50% somewhere because the bills still have to be paid in this liberal welfare state. My pension from UTC is 100% taxable. What the #$%^ are they going to do, take more of mine? I have a friend who was a high school principal in CT. She was making about $120+K per year. Her State pension is over $80K per year. And, she is collecting Social Security (age 66) plus she has the states equal to a 401K. So tell me, we should not tax 50% of her pension? @#$^%%^ CT!
I am predominantly a conservative Republican (Reagan type) . Harry Truman was a great President that had to make a very tough decision in pursuit of ending a horendous war. His choice saved millions of lives. He would be ashamed of the Democratic party today. He would be ashamed of both parties today. I support the 3 party system..........a party of Friday night, a party on Saturday night and a party on Sunday afternoon after church.
Just to let any interested parties know: Today there was an article in a CT paper that UTC was looking to sell / spinoff Sik. This "rumor" is getting a life of its own. I do believe Louie is shopping for a buyer. IMO, Sikorsky has become a financial liability to the bottom line and it will continue to be a drain. I will never stop believing (by Journey) that it all began with Borgman and Pino accelerated the decline. They have laid off too much talent and hard workers to come back. It reminds me of a great General Motors that eventually went into decline and eventual bankruptcy. You have to work hard to destroy a company like Sik was.
ctb - At one time, Sik was a moneymaker and added much prestige to UTC because it was the only helicopter, and still is, to fly the President of the US. But, even thought the Brits and Italians won it and then failed, keep it in mind that Sik failed. That was not good. Usually the incumbent has the advantage. For the past decade or so, it has come upon harder times. It is not adding to the bottom line as it did in the past. Look at the Canadian Program. Now, the defense budgets are getting pared back. They are attempting to make the plan by continuing to lay off the workers. The military spares business will be scaled back. It will be some tough times. There are allot of news sources coming out with articles about Sik being considered for spinoff. I think the only reason it may not be sold is if UTC does NOT get its price. I believe they are testing the waters. If you ever get a chance, read the book : "The Innovator's Dilemma, Why Great Companies Fail". It is an outstanding read. It should be mandatory for all management. I was there and was laid off. I spoke to a friend that just left there in the most recent layoff and according to him, people are in a survival mode and are pointing fingers at others to try to save their jobs. Chenervet is not, what I would consider a very tolerant person when it comes to underperformance by one of his divisions. I think he is looking hard to dump them.
The following is a article from Seeking Alpha. My opinion- This makes allot of sense considering all the perceived turmoil that Sikorsky is going through - the Canadian fiasco, the coinual layoffs to try to make the plan and the (again my opinion) incompetent management team. UTC needs to unload Sikorsky and they need to sell it to a strong helicopter manufacturer to straighten out the mess that management has created.
"A spinoff of the helicopter maker looks to be the most likely option, reports DefenseNews, but an outright sale or a strategic merger are also being looked at. Unclear is how long a spinoff might take or who a buyer might be in a sale.
The company declined to comment, but former Pentagon manufacturing and industrial policy chief Brett Lambert says current market conditions make the timing ripe, and expects more M&A and spinoff activity in the next 12 months than has been seen in the last 36.
It could be a first in the history of aerospace brought to you by UTC / Sikorsky. We all know that when you deliver aircraft, you get some revenue and some of that goes to the bottom line. Analysts have determined that UTC's earnings were helped by the fact that Sikorsky did NOT!!! deliver any Canadian aircraft. And now that they will begin delivering again in the distant future, that may very well impact earnings negatively. Way to go Borgman & Pino and all your leadership teams over the years.