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Technology Stocks : Eaton (ETN) is definitely not overvalued! -- Ignore unavailable to you. Want to Upgrade?

To: Walter Morton who wrote (25)	9/11/1998 3:49:00 PM
From: Walter Morton	Respond to of 338

Some might think that this move is setting Eaton up to sell its Automotive Group. After all, a recession will eventually hit the automotive industry. Why not sell it now: I am not sure that I agree with that, but it is something to think about: Cutler announces realignment of senior operating responsibilities Alexander M. Cutler, president and chief operating officer, today announced a realignment of Eaton's senior operating responsibilities. "The competitive environment in which we operate mandates that we constantly review all aspects of our organization for opportunities to better serve our customers and create value for our shareholders," Cutler said. "The organizational changes which we are announcing today will accomplish two important objectives needed to meet these two goals: Stronger emphasis upon developing an even more effective global supplier resource management program, and Closer coordination of all of our businesses serving the passenger car and light truck global markets." To accomplish these changes the following organizational structure is effective immediately: Larry M. Oman, previously senior vice president and group -Automotive Components, is appointed vice president- Supplier Resource Management. Oman will report directly to Cutler and will direct Eaton's Worldwide Supplier Resource Program. Richard D. Williams, director-Purchasing, will report to Oman. Robert J. McCloskey, senior vice president and group executive-Controls & Hydraulics, will now have responsibility for all of Eaton's businesses serving the passenger car and light truck markets. McCloskey's new group will be named the Automotive Group and will include Engine Components Operations, Air Controls Division, Automotive Controls Operations, Fluid Power Division, Torque Control Products Division, Engineered Fasteners Division, Airflex Division and Golf Grip Division. Thomas W. Chisholm, vice president-Automotive Marketing, will also report to McCloskey. Brian R. Bachman, senior vice president and group executive -Semiconductor & Specialty Systems, will now assume responsibility for Eaton's Hydraulics Operations and will retain responsibility for the Semiconductor Equipment Operations, Aerospace Controls Division, Commercial Controls Division and Navy Controls Division. Bachman's new group will be named Hydraulics, Semiconductor Equipment and Specialty Controls. Thomas W. O'Boyle, senior vice president and group executive-Truck Components, will retain his current responsibility for Eaton's worldwide Truck Components Operations and will also assume responsibility for Eaton VORAD Technologies, an operating subsidiary that produces radar-based collision warning systems. David M. Wathen, senior vice president and group executive -Cutler-Hammer, will retain his current responsibilities.