No. of Recommendations: 2
A few weeks ago, United Technologies announced it would spin off it's Otis Elevator and Carrier HVAC businesses.

United Technologies Announces Intention to Separate Into Three Independent Companies; Completes Acquisition of Rockwell Collins

http://www.utc.com/News/News-Center/Pages/United-Technologie...

Meanwhile, Honeywell spun off it's home controls business as Resideo.

Honeywell Completes Spin-Off Of Resideo Technologies

Post spin-off, Resideo Technologies, Inc., will be a leader in home heating, ventilation and air conditioning controls and security markets and a global distributor of security and fire protection products. Honeywell retains majority of the Aerospace business, Performance Materials & Technologies, Building technologies and Safety and Productivity Solutions.


https://www.forbes.com/sites/joecornell/2018/11/02/honeywell...

Funny thing about that Resideo spin off. When Honeywell spun off Garrett (automotive turbochargers) they sent me a booklet of financial information which clearly stated the date Garrett would begin trading. I dumped Garrett the day after it started trading, and it's lost close to a third of it's value since then.

The booklet I received about Resideo did not give a spin off date, only said it was expected to happen before the end of the year. Didn't know it had started trading until I received my November brokerage statement yesterday. It's down from it's opening price, but not hammered as badly as Garrett.

Unlike Garrett, Honeywell did not unload a pile of asbestos liability on Resideo, but Honeywell did load Resideo up with debt, and Resideo will be paying Honeywell millions per year for environmental remediation costs.

Steve
Print the post  

Announcements

This is a Politics Free Board
Politically charged posts are not permitted on the Metar Board. If you make a political post, and it is alerted, the post will be removed. Thanks!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.