United Tech shares last year fell about 30 percent , a less-steep drop than the 34 percent tumble of the blue-chip Dow Jones industrial average .DJI and the 38 percent slide of the broad Standard & Poor 's 500 index .SPX. Fellow U.S. conglomerate General Electric Co ( GE.N ) said earlier this week that Chief Executive Jeff Immelt had asked to be paid no bonus , receiving compensation worth about 28 percent less for 2008 , when earnings fell 22 percent .