There’s speculation that the recent changes in personnel at United Technologies could mean the conglomerate is mulling major new acquisitions or other structural changes.
New CEO Greg Hayes is shaking up the C-suite, with the departure of Alain Bellemare, who headed up UTC Propulsion and Aerospace Systems. He won’t be replaced, but the company has elevated another executive, Mike Dumais to head of strategic planning.
Some analysts believe these shifts signal that Hayes is considering a big move, perhaps an acquisition, an inversion move, or a spin-off.
Venezuelan Surprise for Praxair
Events in Venezuela are having an impact on Danbury’s Praxair. The industrial gases company says its changing to a new standard for currency exchange on its Venezuelan business, as that country’s economic crisis continues.
The switch, which sees the company go from recording 6.3 bolivars to the dollar to 50 bolivars to the dollar, will mean taking a charge in the fourth quarter of $131 million. Praxair says that's about a seven-cents-a-share impact on its 2015 earnings.
DeLauro Blasts TPP Ahead of SOTU
Congresswoman Rosa DeLauro continues to emphasize her opposition to fast tracking a proposed Asian trade deal, ahead of the State of Union on Tuesday night.
It’s widely expected that President Obama will attempt to reach across the aisle to congressional Republicans for support of his policy on the Trans Pacific Partnership. Connecticut’s De Lauro says the deal shouldn’t pass without congressional oversight, because it would undercut American wages.
