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Press Releases
FOR
IMMEDIATE RELEASE "Goodyear is already carrying about $6.4 billion dollars in debt, and its credit is poor and getting worse," said USW International president Leo W. Gerard. "Now they plan to borrow more money to flush down a rat hole of a fight they can never win." "Quite simply, this latest move by the company is the wrong thing for the wrong reasons at the wrong time," said USW International vice president Tom Conway. Conway heads the USW's bargaining team in its negotiations with Goodyear. "When you borrow money, you have to pay it back, and to pay it back Goodyear needs to build tires that people want to buy," said Conway." This company has no such plan in place." "It is really time for the company's owners to step forward and stop this madness," said Gerard. "Bob Keegan is looking increasingly like Captain Queeg in the The Caine Mutiny. Queeg is the fictional character in Herman Wouk's 1951 novel, who was removed from command of a World War II minesweeper because of eccentric behavior that lead to mistakes that endangered his crew. The USW represents more than 17,000 workers at Goodyear facilities in the U.S. and Canada. On October 5, about 15,000 USW-represented workers at 16 locations in North America went out on strike in an effort to win a fair and equitable contract. Overall, the USW presents more than 850,000 members in the U.S. and Canada. Some 70,000 are employed in the tire, rubber and plastics industry.
Goodyear Announces Proposed Offering Of Senior Notes November
16, 2006 Goodyear says it intends to use the net proceeds from this offering to repay at maturity $515 million principal amount of its existing notes due Dec. 1, 2006, and March 1, 2007. The company will use the remaining cash "for general corporate purposes, which may include addressing the continuing strike by the United Steelworkers union." The notes, when offered, will be offered in a private placement under Rule 144A, have not been registered under the Securities Act of 1933, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Goodyear says these intentions "shall not constitute an offer to sell or the solicitation of an offer to buy any securities."
Fight
at Goodyear Strike, 2 Arrested
Nov.
9, 2006, 6:33AM AKRON, Ohio, — Goodyear Tire & Rubber Co. on Thursday reported a loss in the third quarter, as a charge for closing a plant and higher raw material costs pushed the tire maker into the red. Goodyear posted a loss of $48 million, or 27 cents per share, including a restructuring charge of $126 million, or 71 cents per share, related to the planned closure of a plant in Tyler, Texas, that makes wholesale private label tires. Goodyear has decided to exit certain segments of the private label business. A year-ago, the company reported a profit of $142 million, or 70 cents per share. Analysts, whose forecasts did not include the restructuring charge, expected a profit of 24 cents per share, according to Thomson Financial. Goodyear, which is in the midst of a United Steelworkers strike that saw more than 12,000 workers in the United States and Canada walk off the job on Oct. 5, said sales for the period ended Sept. 30 rose 6 percent to $5.28 billion from $5.03 billion last year. The volume of tire sales fell 4 percent to 55.8 million from 58.4 million, but revenue per tire was higher by 8 percent. The decision to close the Tyler plant was announced on Oct. 30, at which time the company also said it plans to cut 1,100 jobs.
Goodyear Announces Third Quarter 2006 Earnings Release AKRON, Ohio, Nov. 6 -- The Goodyear Tire & Rubber Company (NYSE: GT) will report third quarter 2006 financial results before markets open on Thursday, November 9, to be followed by an investor conference call at 9 a.m. EST. (Logo: http://www.newscom.com/cgi-bin/prnh/20050204/GTLOGO ) Participating in the conference call will be Robert J. Keegan, chairman and chief executive officer; Richard J. Kramer, executive vice president and chief financial officer, and Darren R. Wells, senior vice president, business development and treasurer. They will review Goodyear's third quarter results. Prior to the commencement of the call, the company will post the financial and other statistical information that will be presented on its investor relations Web site: http://investor.goodyear.com. Shareholders, members of the media and other interested persons may access the conference call on the Web site or via telephone by calling (706) 634-5954 before 8:55 a.m. November 9. A taped replay of the conference call will be available at 3 p.m. that day by calling (706) 634-4556. The call replay will also remain available on the Web site. Goodyear is one of the world's largest tire companies. The company manufactures tires, engineered rubber products and chemicals in more than 100 facilities in 29 countries around the world. Goodyear employs about 80,000 people worldwide.
Picketer
Attacked I
belong to Local 878 in Union City, Tn. Just to let you know, those of
you walking the pickets, to be careful out there. An independent trucker
from Lawton Okla. stopped at our main entrance to the plant, jumped out
of his truck and hit one of our men with a billy club. Fraternally, Robert
Lemaster
Recent Media Coverage of Good Year Strike
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While
that was happening the car was left in gear. It started to circle backwards
out of control towards the fight. Police officers had been 
watching
over the strike for the past two weeks. The officers on duty ran over
to the area, and were able to jump inside the car and stop it. Police
also separated the two men from the crowd using pepper spray. Harris then
jumped onto the arresting officer's back, putting him in a choke-hold.
Another officer pulled him off, and had to use a taser to stop Harris
from attacking him. 
