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To: H James Morris who wrote (123205)4/7/2001 9:11:08 PM
From: Victor Lazlo  Read Replies (1) of 164684
 
HJ I really hope you are long gone from long in GE....

Chances are about 65% now that the Honeywell deal will not happen. Welch has very bad advisors- they tell him what he wants to hear.

The CEO of UT is a lot smarter than Welch. UT made their bid for HON and then GE stampeded in with an offer that was far too expensive, and possibly monoplistic. And UT walked away- they knew GE's offer was too much to pay for HON.

But Jack was not to be deterred. He has his ego to feed. So he bullied the deal through and now it is washed up by the EC's in-depth review of its implications. It does not look good at all.

Must reading re GE's attempted acquisition of Honeywell:

"GE-HONEYWELL: HOW JACK STUMBLED"
BusinessWeek, April 16, p. 122

"When Welch announced the deal last fall and said he would delay his long-anticipated retirement to see it through, analysts assumed that he wanted to go out with one last hurrah. But one long-time Honeywell adviser predicts the deal could instead go down as Welch's Waterloo. 'Although we all deify Jack, this was a very bad move,' he says. "

Meanwhile, Honeywell itself is sinking fast, as investors realize this thing is a complete debacle created almost soley by an egotistical Jack Welch.

Victor
p.s., although I have been saying for months now the same things that are now in this article, I SWEAR I did not write the article !! LOL!!
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