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| | David M. Cote 1952— - GENERAL ELECTRIC, TRW, HONEYWELL INTERNATIONAL |
 | | Honeywell International had earlier tried to merge with General Electric, only to have the merger rejected by antitrust authorities in the European Union; having reorganized to become part of General Electric, the company had trouble reorienting itself to remaining an independent entity. |
| | Cote had his hands full: although Honeywell grossed $24 million in 2001, the company faced mounting debts, settlements for lawsuits stemming from employees' exposure to asbestos, a stock that would fall 31 percent in 2002, and demoralized management. |
| | However, by selling other Honeywell units and cutting costs—partly by sending some American jobs abroad to Romania and Singapore, where labor costs were lower, and partly by reducing defects in production—by the end of 2003 Honeywell had amassed about $2 billion in cash reserves. |
| www.referenceforbusiness.com /biography/A-E/Cote-David-M-1952.html (1118 words) |
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