This morning, it was announced that Honeywell International was bumped from the Dow Jones Industrial Average after 82 years on the list. Other companies with ties to the automotive and heavy duty industries that were removed from the Dow include Chevron, Sears and Navistar.
The Dow Jones Industrial Average, first created as a 12-stock index in 1896, is today comprised of 30 companies considered to be among the most prestigious businesses in the U.S. Among the new companies entering the Dow are Caterpillar, Home Depot, Coca-Cola, Walt Disney Co. and Verizon.
Marcus Brauchli, managing editor of the Wall Street Journal, which is owned by Dow Jones, is responsible for overseeing the index and the makeup of the list.
