But it is a prejudice that Mr Bossidy and particularly Mr Bonsignore will always have to fight against.

ECONOMIST: Honeywell and AlliedSignal

And press reports have speculated that the head of Honeywell Michael Bonsignore will be forced to resign after the announcement.

BBC: Decision day for GE

The Wall Street Journal recently followed Michael Bonsignore, the chairman of Honeywell, on a typically gruelling 11-day business trip around China and Europe that few people would envy.

ECONOMIST: On a wing and a hotel room

Michael Bonsignore, who will be chief executive of the new company and then succeed Mr Bossidy as chairman next year, has also won praise for the thoughtful way in which he has restructured Honeywell.

ECONOMIST: Honeywell and AlliedSignal

However, as Mr Bonsignore takes over that task, a longer-term question still remains about the viability of conglomerates in an age in which management people talk about core competences even more than six sigma.

ECONOMIST: Honeywell and AlliedSignal