Corporations: Honeywell in Control

For most of its history since 1885, when the company was formed to make a newfangled thermostat, Minneapolis-based Honeywell Inc. has stuck pretty close to the home furnace. More recently, it has considerably broadened its territory. Since 1961, sales have more than doubled; they topped $1 billion for the first time last year. Beyond home thermostats—now only one of thousands of items that Honeywell sells in 57 countries—the company is busy manufacturing automation systems, defense gear, and industrial control equipment. It brings out about three new products weekly, and last week outdid itself by introducing ten new products, including storage...