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Honeywell funded its pension obligations before they were actually due, and with the selling of the asbestos problems to the bankrupt company (as permitted by the Pennsylvania court), the asbestos problems are soon to be in the past as well...

Honeywell has strong businesses outside of the general aviation and aerospace..turbochargers, specialty materials, chemicals...I think it is sound for an old-line company.

I got burned buying high-techs and telecoms in the '90's and have invested in some of these "older" companies and have been pleased with the results so far.
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