Honeywell

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Learn more about Pete Peterson-funded astroturf projects at the Fix the Debt Portal.

Honeywell is a large U.S. aerospace and defense contractor based in Morristown, New Jersey. Honeywell Aerospace makes flight safety and landing systems as well as jet engines, including engines for Unmanned Aerial Vehicles (UAVs) such as those used in Predators which fire Hellfire missiles. Honeywell also makes automation and control equipment used in home and industrial heating. It also makes car products for consumers such as Prestone and FRAM. [1] [2] [3]

Honeywell reported net sales of $36,529,000,000 in 2011.[4]

Ties to Pete Peterson's "Fix the Debt"

Campaign to Fix the Debt
Company Profile
Company Name Honeywell
CEO Name David Cote
CEO Compensation $37,842,723
CEO Retirement Assets $78,084,717
Underfunded Company Pension -$2,764,000,000
Annual Company Revenue $36,529,000,000
Tax Dodger ('08-'10) -0.7%
Territorial Tax Break $2,835,000,000
Federal Lobbying/Political Donations ('09-'12*) $25,982,000
Click here for sources.
2011 data unless otherwise noted.
©2013 Center for Media and Democracy

The Campaign to Fix the Debt is the latest incarnation of a decades-long effort by former Nixon man turned Wall Street billionaire Pete Peterson to slash earned benefit programs such as Social Security and Medicare under the guise of fixing the nation's "debt problem." Honeywell is part of the Campaign to Fix the Debt as of February 2013.

This article is part of the Center for Media and Democracy's investigation of Pete Peterson's Campaign to "Fix the Debt." Please visit our main SourceWatch page on Fix the Debt.

About Fix the Debt
The Campaign to Fix the Debt is the latest incarnation of a decades-long effort by former Nixon man turned Wall Street billionaire Pete Peterson to slash earned benefit programs such as Social Security and Medicare under the guise of fixing the nation's "debt problem." Through a special report and new interactive wiki resource, the Center for Media and Democracy -- in partnership with the Nation magazine -- exposes the funding, the leaders, the partner groups, and the phony state "chapters" of this astroturf supergroup. Learn more at PetersonPyramid.org and in the Nation magazine.

Norway shuns ties to Honeywell

The country of Norway has removed Honeywell along with six other corporations from its pension fund because of the corporations' presumed involvement in the production of nuclear weapons. The six other corporations are BAE Systems of Britain, Boeing, Northrop Grumman, United Technologies, Finmeccanica of Italy, and Safran of France.[5]

Most of the companies, including Honeywell, would not confirm to Norway's central bank the production of nuclear weapons components but Norway's Finance Ministry said verification was obtained by company news releases and sources like Jane's Information Group which publishes military information. [5]

Personnel

Key Executives

As of January 2013[6]

  • David M. Cote, Chairman and CEO
  • Tim Mahoney, President and CEO, Aerospace
  • Roger Fradin, President and CEO, Automation and Control Solutions
  • Alex Ismail, President and CEO, Honeywell Transportation Systems
  • Andreas Kramvis, President and CEO, Performance Materials and Technologies
  • Katherine L. Adams, Senior Vice President and General Counsel
  • David J. Anderson, Senior Vice President and Chief Financial Officer
  • Rhonda Germany Corporate Vice President and Chief Strategy and Marketing Officer
  • Mark R. James, Senior Vice President,Human Resources and Communications
  • Mike Lang, Vice President and Chief Information Officer
  • Krishna Mikkilineni Senior Vice President, Engineering and Operations and President of HON Technology Solutions (HTS)
  • Shane Tedjarati President, Global High Growth Regions

Former executives include:[7]

  • Adriane M. Brown - former President and CEO, Transportation Systems
  • Nance K. Dicciani - former President and CEO, Specialty Materials
  • Rob Gillette - former President and CEO, Aerospace
  • Peter M. Kreindler - former Senior Vice President, General Counsel
  • Mark James - former Senior Vice President, Human Resources and Communications

Executives and 2006 pay

  • David M. Cote - Chairman and CEO, $25,760,000[8]
  • David J. Anderson - Senior Vice President and Chief Financial Officer, $7,623,081[9]
  • Larry E. Kittelberger - Senior Vice President, Technology and Operations, $6,401,052[10]

Board of Directors

As of January 2013[11]

  • David M. Cote, Chairman and Chief Executive Officer of Honeywell International Inc.
  • Gordon M. Bethune, Retired Chairman and Chief Executive Officer of Continental Airlines, Inc.
  • Kevin Burke, Chairman, President and Chief Executive Officer of Consolidated Edison, Inc. (Con Edison)
  • Jaime Chico Pardo, President and Chief Executive Officer, ENESA, S.A. de C.V. (also a directors at AT&T)
  • D. Scott Davis, Chairman and Chief Executive Officer of United Parcel Service, Inc. (UPS)
  • Linnet F. Deily, former Deputy U.S. Trade Representative and Ambassador (ambassador to the World Trade Organization under George W. Bush) and former Vice Chairman of The Charles Schwab Corp.
  • Judd Gregg, former U.S. Senator from New Hampshire
  • Clive R. Hollick, former Partner, Kohlberg Kravis Roberts & Co.
  • Grace Lieblein, Vice President, Global Purchasing and Supply Chain of General Motors Corporation (GM)
  • George Paz, Chairman, President and Chief Executive Officer of Express Scripts, Inc.
  • Bradley T. Sheares, former Chief Executive Officer of Reliant Pharmaceuticals, Inc.; former President, U.S. Human Health, Merck & Co., Inc.

Former board members include:[12]

Political Contributions and Lobbying

Honeywell gave $797,343 to federal candidates in the 2006 election through its political action committee - 38% to Democrats, 61% to Republicans, and 1% ($8,500) to independent Joseph Lieberman (I-CT). [13]

The company spent $2,880,000 for lobbying in the first half of 2007. $700,000 went to seven lobbying firms with the remainder being spent using in-house lobbyists. [14]

A report by Public Campaign revealed that Honeywell spent $18.3 million in lobbying between 2008-2010. During the same time period, it received $34 million in tax rebates and made $4.903 billion in US profits, meaning it paid a tax rate of -1%. Executive compensation also increased 15%, from $47,246,881 in 2008 to $54,279,566 in 2010. In addition, between 2009-2011 Honeywell made $5,112,779 in federal campaign contributions. [15]

Contact details

101 Columbia Road
Morristown, NJ 07962
Phone: 973-455-2000
Fax: 973-455-4807
Web: http://www.honeywell.com

Resources

Related Sourcewatch articles

Featured SourceWatch Articles on Fix the Debt

References

  1. Honeywell Profile, Hoovers, accessed November 2007.
  2. Turbojet Propulsion Engines, Creative Energy Concepts, accessed November 2007.
  3. RQ-1 Predator, Air-Attack, accessed November 2007.
  4. Honeywell, "2011 Annual Report", organizational report, page 22.
  5. 5.0 5.1 Daniel Altman, "Norway shuns ties to weapons", International Herald Tribune, January 6, 2006.
  6. Honeywell, Leadership, organizational website, accessed January 2013
  7. Leadership, Honeywell, accessed November 13, 2007.
  8. CEO Compensation David M Cote, Forbes, accessed November 2007.
  9. David J Anderson, Forbes, accessed November 2007.
  10. Larry E Kittelberger, Forbes, accessed November 2007.
  11. Honeywell, "Board of Directors", organizational website, accessed January 2013
  12. Board of Directors, Honeywell, accessed November 2007.
  13. 2006 PAC Summary Data, Open Secrets, accessed November 2007.
  14. Honeywell lobbying expenses, Open Secrets, accessed November 2007.
  15. For Hire: Lobbyists or the 99%? How Corporations Pay More for Lobbyists Than in Taxes Public Campaign, December 2011

External articles