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Honeywell: Cuts to U.S. military spending 'need to occur'
The Star-Ledger ^ | Nov 19 2012 | Stacy Jones

Posted on 11/19/2012 4:29:32 PM PST by WilliamIII

While most large U.S. defense contractors have warned a $500 billion cut in military spending over the next 10 years could be disastrous, Honeywell International today bucked the trend and announced it would welcome the reductions.

During a meeting with investors Mike Madsen, president of Honeywell's defense and space unit said that the company recognizes that a majority of the budget cuts that make up the so-called "fiscal cliff" will happen.

"We're not really fighting these—they need to occur," he said.

(Excerpt) Read more at nj.com ...


TOPICS: Business/Economy; Government
KEYWORDS:
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1 posted on 11/19/2012 4:29:41 PM PST by WilliamIII
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To: WilliamIII

They have been given an offer they can’t refuse.

When you make your money from government, you support the government.


2 posted on 11/19/2012 4:31:35 PM PST by GeronL (http://asspos.blogspot.com)
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To: WilliamIII

And what Honeywell programs are targeted for termination?


3 posted on 11/19/2012 4:32:12 PM PST by Hulka
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To: GeronL

Yup. Those CEOs that prove ‘cooperative’ will be allowed to keep their jobs.


4 posted on 11/19/2012 4:39:26 PM PST by rbg81
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To: Hulka

How many employees will Honeywell be laying off?


5 posted on 11/19/2012 4:39:33 PM PST by Venturer
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To: WilliamIII

I’m sure we can make lots of military cuts. Do we really need to continue occupying Europe and Japan?

We could cut our military by 50% and still be #1 in spending. In fact, I’d be more in favor of cutting the military by 50% if half that money went into NASA


6 posted on 11/19/2012 4:43:03 PM PST by MeanGreen2008
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To: MeanGreen2008
NASA chief says agency's goal is Muslim Outreach.
7 posted on 11/19/2012 4:56:21 PM PST by Jacquerie ("How few were left who had seen the republic!" - Tacitus, The Annals)
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To: Venturer

How many employees will Honeywell be laying off?

Are layoffs the reason we shouldn’t cut government spending? So we should make sure the government payroll — and the payrolls of government conractors — are never cut? Then get ready to pay higher taxes, cause that’s the only way to fund government payrolls at their current levels, without borrowing from the Chinese!


8 posted on 11/19/2012 4:57:01 PM PST by WilliamIII
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To: MeanGreen2008

Eh, take a closer look at the budget and tell us all how you would make a 50% cut; eliminate the Marine Corps?


9 posted on 11/19/2012 5:10:36 PM PST by MSF BU (n)
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To: MeanGreen2008

Eh, take a closer look at the budget and tell us all how you would make a 50% cut; eliminate the Marine Corps?


10 posted on 11/19/2012 5:10:42 PM PST by MSF BU (n)
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To: WilliamIII

I disagree with cuts in defense spending, but the total of all of the other automatic cuts (in civilian spending) is much higher and needs to be done.


11 posted on 11/19/2012 5:17:53 PM PST by familyop (We Baby Boomers are croaking in an avalanche of rotten politics smelled around the planet.)
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To: MSF BU

Here’s how:

Let Europe defend itself. Close every single base in Europe.
Let Japan and Korea defend themselves. Close those bases.
End the pointless Afghan war. Now.
Close every single base in the ME. Bring those troops home. Now.

That’d cut the defense budget by 1/3 at least.


12 posted on 11/19/2012 5:18:32 PM PST by Lurker (Violence is rarely the answer. But when it is it is the only answer.)
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To: Venturer
How many employees will Honeywell be laying off?

None! They've just earned a bail out.

13 posted on 11/19/2012 5:21:44 PM PST by Jane Long (Philippians 2:11)
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To: familyop

I disagree with cuts in defense spending,

So government spending can’t be cut, because freepers don’t want defense cut (as if government suddenly becomes efficient with no unneeded spending, when it comes to military), and liberals don’t want anything else cut. So we’ll keep heading into bankruptcy - and higher taxes.


14 posted on 11/19/2012 5:58:30 PM PST by WilliamIII
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To: MSF BU

Eh, take a closer look at the budget and tell us all how you would make a 50% cut; eliminate the Marine Corps?

Why do we need bases in Europe, England and Japan?


15 posted on 11/19/2012 5:59:37 PM PST by WilliamIII
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To: Jane Long

Then they are under the influence of a payoff.


16 posted on 11/19/2012 6:00:06 PM PST by Venturer
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To: WilliamIII
Why do we need bases in Europe, England and Japan?

Does "Benghazi" ring a bell?

17 posted on 11/19/2012 6:15:40 PM PST by okie01 (THE MAINSTREAM MEDIA; Ignorance on parade.)
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To: WilliamIII
Honeywell strung me along for 3 months trying to get an answer to whether they were capable of performing on a specific task. They finally admitted the device of interest had been "acquired" and none of their staff knew squat about it. I'm not surprised that non-performers are angling for cuts to competitors.
18 posted on 11/19/2012 6:15:42 PM PST by Myrddin
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To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; Convert from ECUSA; ...

Thanks WilliamIII.
During a meeting with investors Mike Madsen, president of Honeywell's defense and space unit said that the company recognizes that a majority of the budget cuts that make up the so-called "fiscal cliff" will happen. "We're not really fighting these -- they need to occur," he said.
IOW, the cuts that have no impact on Honeywell need to occur.


19 posted on 11/19/2012 6:26:29 PM PST by SunkenCiv (https://secure.freerepublic.com/donate/)
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To: Lurker

I concur. Glad to hear others around here saying it too. Let’s stop borrowing from China and others to subsidize Europe, Japan and Korea.


20 posted on 11/19/2012 6:43:00 PM PST by andyk (I have sworn...eternal hostility against every form of tyranny over the mind of man.)
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