Wealthy Are Cautiously Optimistic

High net worth individuals are cautiously optimistic about their portfolios,says Lyle Lamothe of Bank of America/Merrill Lynch Wealth Management US.Their net worth has come back to 2007 levels.Dealing with them is less about the products;more about the process of communication first-they want to know how much risk they need to take to reach their goals;what is it that they're actually investing in.He's actually engaging in more hand-holding.
The clients are showing more interest in Asian real estate,Mr.Lamothe revealed.It's part of an allocation strategy.Merrill Lynch is seeing broader diversification in their portfolios.
There are 2.7 million millionaires in the United States.
Bank of America(BAC)

Honeywell Aerospace Deals

The Aerospace Division of Honeywell International(HON) has been prospering lately.It has just signed a 50 million dollar U.S. contract with Air Asia,and its 2.2 billion profit makes up nearly half of Honeywell's total.Half of the division's after-market business is in North America.It provides specific applications for airplanes,as well as upgrades for fuel efficiency and safety.Division chief Robert Gillette says they'd like to look at expanding globally,though it's a challenge with the weak U.S. dollar.Honeywell Aerospace is selling its parts business to BE Aerospace(BEAV) for just over one billion dollars.