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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

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.

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.

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