Steve Hoedt Quotations

We're looking at a target price on this of $30 and that's right in the neighborhood of where it's at now. It's possible that you could get a little more upside from it, but if you look at the businesses on a cash-flow valuation basis, a breakup wouldn't create that much more value than what we've seen.

This was a company that never really got the benefits of being a conglomerate. The value creation is going to be seen in what businesses Tyco keeps - the industrial businesses, engineered products and fire and security - because that's where the management team has the potential to reduce costs.

The need for oil-sand equipment is the poster child of new demand. We don't see any sign of demand slowing.