JimPinto.com - Connections for Growth & Success
No. 53 : July 24, 2001
Keeping an eye on technology futures.
Business commentary - no hidden agendas.
New attitudes, no platitudes.
- Invensys : Yurko out, stock dives
- What's hot for industrial automation
- Fully automated factories
- eFeedback :
- Honeywell after GE
- A.I. movie comments
- More comments on Charity
Invensys : Yurko out - stock dives
On Tuesday, 24 July, the Invensys board accepted the request of Allen Yurko
to retire on 31 January 2002. Rick Haythornthwaite (45) will be appointed
as Chief Executive on 1 October 2001.
The Invensys announcement commented that since Yurko is retiring at his own
request, there will be "no severance payment to Yurko for his loss of
office". What a bunch of baloney ! Yurko's ability to withdraw his pension
plan as a $7.5m lump-sum was just approved weeks ago, indicating that he
was about to exit any time after his 50th birthday (25 Sept. '01). With
that in mind, note the dates above.
Chairman, Lord Marshall (when will he be booted?) was pleased that Kathleen
O'Donovan, who had indicated that she wished to stand down, has accepted
the request to stay with the Group and work with the new CEO. Of course,
this is till he finds a new CFO replacement - which she surely knows, and
probably accepted a "settlement" to not rock the boat with her own
departure at this time.
On Tuesday, the Invensys stock traded as low as 73p, and ended the day at
85p. And now the group is being stalked by the likes of Alchemy (failed
Rover bid, bought ICS and sold off parts) - for a break up play.
CBS Marketwatch - Invensys CEO goes, warns on profits
Read the complete background analysis
What's hot for industrial automation
Industrial automation is transitioning from distributed control systems
programmable logic controllers and industrial PCs to a new, connected
environment of industrial appliances. In a somewhat stagnant business
environment, new technologies will bring significant advances - and new
leaders. You might enjoy my latest article on this subject.
What's hot for industrial automation
The original version of this article was published by
Industrial Computing - ISA, July 2001
Fully automated factories
For decades popular culture has anticipated the arrival of fully automated
workplaces - really smart manufacturing processes occurred with only
minimal human involvement. Products would transit from raw materials to
finished goods in a smooth sweep of sequenced transformations, accomplished
robotically and monitored remotely.
Dick Morley tells the joke about a future factory needing a man and a dog :
the man to supervise the factory, and the dog to assure that the man does
not touch anything....
It has not yet happened. But, now perhaps it is....
Read this article : Look Ma! No people!
Read Dick Morley's book :
The Technology Machine: Manufacturing in the year 2020
Richard Corles [firstname.lastname@example.org] commented on Honeywell, post-GE :
"The Honeywell board has recalled Larry Bossidy to run the company for one
year, officially to "make it self-sufficient again". Bossidy has clearly
failed to find a successor in the past. My conclusion is that the board
expects Bossidy to clean up and sell pieces to interested buyers. GE will
have open access to Bossidy, ex-GE and a good buddy of Jack Welch. GE now
knows which pieces they really want and maybe they will pay a little over a
realistic price as part of a settlement. So, everyone can declare victory.
"Other pieces will be sold off or spun off so that Bossidy can go back to
golfing next year without the need to meddle with his successor - he won't
have one. He simply has a personal interest in this coming out right by
virtue of his stock ownership."
Norm & Jeanette Helfgott [email@example.com] gave their view of the
Spielberg movie A.I. :
"We went to see A.I. because it had Spielberg's name attached to it as well
as the fact it had a futuristic, scientific format which always
attracts us. Here are some of our observations about the movie - with which
we both were VERY disappointed.
"Aside from the dark, narcissistic selfishness of some of the characters,
parents were portrayed as having consideration only for THEIR feelings and
not taking responsibility for their actions, even towards a "machine".
Many humans have more love for their pets and automobiles, than the
characters in the movie had for their manmade child!
"Spiritual Machine? If humans find the path to spirituality difficult to
follow how could a machine supply it? The dictionary definition of Spirit :
- The vital principle or animating force traditionally believed to be
within living beings.
- The soul, considered as departing from the body
of a person at death.
- The Holy Ghost.
- Christian Science - God.
- A supernatural being, such as a ghost.
- The part of a human being associated with the mind and feelings as distinguished from the physical body.
- The essential nature of a person.
"Surely, it would take an individual with great hubris to believe the
possibility exists of attaining creation of a machine that would have these
Pinto Point :
Read Ray Kurzweil's book The Age of the Spiritual Machine
Norm & Jen, there are indeed many respected technologists
who believe that the possibility does exist for creating a machine with the
qualities you mention.
Dave Rich [firstname.lastname@example.org] commented on my Charity article :
"I read and enjoyed you viewpoints on charity. Helping people without
expecting anything in return is good. Corporations tell how much they give
back to the community "5% goes towards your community" and yet the same
corporation gets tax advantages for building a new store in downtown
Minneapolis, from the City of Minneapolis. This just seems to capsize their
creditability. They can't be quiet about giving, but didn't even say "thank
you" about the $68 million tax relief - amazing!"
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