Honeywell ditches conglomerate model

Honeywell Aerospace, a spinoff of Honeywell International, is criticized by CEO Jim Currier for the outdated conglomerate model. The company aims to focus on mission-critical hardware, faces a 3% stock decline post-spinoff, and plans M&A after addressing $10.5 billion in debt from the spinoff, which includes a dividend to its former parent. It reports a $19 billion backlog growing 20% annually.