CEO Robert Keegan has been the chief executive officer of Goodyear Tire & Rubber Co since 2003. He is 58 years old. Follow Mr. Keegan and Goodyear Tire & Rubber Co in the news and blogs or share your own opinion about the company and its...
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CEO Robert Keegan has been the chief executive officer of Goodyear Tire & Rubber Co since 2003. He is 58 years old. Follow Mr. Keegan and Goodyear Tire & Rubber Co in the news and blogs or share your own opinion about the company and its leadership.
Shares of Goodyear Tire & Rubber Co. rose Friday after an analyst upgraded the stock based on a sharp decline in the stock's value. Goldman Sachs analyst Patrick Archambault upgraded the stock to "Buy" from "Neutral," noting shares have declined 20 percent since Oct. 28 when Goodyear issued weak guidance for the rest of the year. "We see the sell-off, which put shares back to their July 21st levels, as an opportunity to build positions in the shares," said Archambault. He pointed to the... Read Full Story
Goodyear is raising tire prices. Spokesman Jim Davis says Goodyear Tire & Rubber Co. will raise the price on all consumer replacement tires sold in North America by 6 percent starting Dec. 1. Davis says higher raw material costs are behind the move. The increase is the company's first since September 2008, when it raised prices more than 10 percent. The higher prices will be felt by the company's dealers and distributors, who buy replacement tires directly from Goodyear. Davis says it is up... Read Full Story
Among the earnings stories for Wednesday, Oct. 28, from AP Financial News: Top stories: CLEVELAND (AP) — Goodyear Tire & Rubber Co.'s profit more than doubled in the third quarter, helped by cost-cutting, new products and lower raw material costs. But its shares plummeted on its forecast for an operating loss in its key North American market this quarter. Other stories: FAIRFAX, Va. (AP) — Government contractor ManTech International Corp. said its third-quarter earnings rose 23 percent... Read Full Story
Goodyear Tire & Rubber Co. says its profit more than doubled in the third quarter, helped by new products and lower raw-material costs. The performance marked a reversal by Goodyear, which had reported $554 million in losses in the first six months of the year as the recession staggered the automotive industry. The tire maker based in Akron said Wednesday it earned $72 million, or 30 cents per share, in the July-September period. That's up from $31 million, or 13 cents per share, a year ago... Read Full Story
Shares of U.S. tire makers surged Monday after a decision last week by the Obama administration to impose higher tariffs for three years on Chinese tires. The tariffs are meant to limit rising Chinese imports. There is already a 4 percent tariff on all tire imports. The new tariffs would take effect Sept. 26. The United Steelworkers union brought the up the issue in April, saying more than 5,000 workers at U.S. tire companies have lost jobs since 2004 as Chinese tires flooded the U.S. market... Read Full Story
CHICAGO (Reuters) - Members of the union representing more than 10,000 workers at Goodyear Tire & Rubber Co have ratified a four-year labor deal, Goodyear and the United Steelworkers union said on Saturday. Neither the company nor the union offered details of the agreement. Goodyear said an investor conference call was set for September 28 to discuss the contract. Goodyear, the largest U.S. tire maker, has come under pressure from U.S. auto production declines since last year. Demand from... Read Full Story
Goodyear Tire & Rubber Co. workers have approved a new contract that will prevent the potential closing of factories in six states in the next four years. The United Steelworkers said Saturday that the agreement covers about 10,300 workers. Voting concluded at seven plants late Friday. The contract provides minimum staffing levels at six of the seven Goodyear plants represented by the steelworkers union. It also calls for Ohio-based Goodyear to invest $600 million at the plants, keeping them... Read Full Story
The Steelworkers union says progress is being made in contract talks with Goodyear Tire & Rubber Co. as a deadline looms. Wayne Ranick, a spokesman for the United Steelworkers of America, said Saturday the talks are progressing in Cincinnati, where negotiations have been under way since June. The contract was to expire at midnight for about 10,300 employees at seven plants in Ohio, New York, Virginia, North Carolina, Alabama, Kansas and Tennessee. The expiration deadline has been extended... Read Full Story
The United Steelworkers says the union's tentative contract with Goodyear Tire & Rubber Co. protects six U.S. tire plants from closing for the next four years. Union members on Tuesday received a summary of the deal reached with the Akron, Ohio-based tire maker on Aug. 30. The union says a ratification vote is expected to be completed by Sept. 18. According to the Steelworkers, the contract maintains minimum staffing levels at plants in Akron; Buffalo, N.Y.; Danville, Va.; Fayetteville, N.C... Read Full Story
Goodyear Tire & Rubber Co. and the United Steelworkers of America have extended their national contract four weeks until Aug. 15, both sides said Tuesday. The three-year contract covering about 10,300 Steelworkers at seven Goodyear plants in the U.S. had been scheduled to expire Saturday. The extension was announced by the company in an e-mail statement. The union's contract Web site also detailed the move. The Steelworkers said job security would overshadow other issues in contract talks... Read Full Story
