Table: Honeywell's Game Plan

Here's what CEO David Cote is doing to revive the flagging conglomerate:

2002 PROFITS (CHANGE FROM 2001) STRATEGY

AEROSPACE $1.4 billion (-22%) To cut costs and nab more military business AUTOMATION/CONTROLS $890 million (+8.7%) Emphasis on product devel- opment and marketing TRANSPORTATION AND $357 million (+23.5%) Expanding key products POWER SYSTEMS into fast-growing Chinese and Korean markets SPECIALTY MATERIALS $57 million (+9.6%) $1 billion nylon operation may be sold

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