It also has sapped the profitable service-and-spare-parts business at control makers Rockwell Collins, Goodrich and Honeywell International, as well as at engine makers General Electric and Pratt & Whitney, a division of United Technologies.
The results, summarised in Table S5, confirmed the specificity of the internal positive control makers.
ABB, Europe's leading electrical engineering group; Ericsson, the phone and telecommunications switch maker in Sweden; Reuters, the financial-information company; and Invensys, a factory controls maker in Britain have all announced job cuts recently.
The British factory controls maker Invensys said it would cut 3,500 more jobs and postpone the planned public stock offering of part of its power systems unit because of the global downturn.
Explains Steven Gluckstern, chairman of Zurich Centre Group: "Insurance companies are in the risk-management business, and if your customer's biggest risk is interest rate swings or the price of oil, you have to be able to deal with that".; Minneapolis-based Honeywell Inc., the $7.3 billion (sales) global controls maker, is turning to insurance companies for managing its currency risk.
Like Honeywell, control-maker Rockwell Collins would be a good fit, but at 16 times trailing earnings, it's pricey.
Another pick is Tenneco, an emission control systems maker.
Big goof: Steris, an infection control equipment maker we advised shorting a year ago.
AI-powered remote control car maker Anki unveiled Anki Overdrive, the next generation of its play sets that lets you create your own tracks from various tiles.
AI-powered remote control car maker Anki today unveiled Anki Overdrive, the next generation of its play sets that lets kids (and the adults who inevitably have to play with them) create their own tracks from various tiles.
