Goodyear profit more than doubles
Published: October 28, 2009
CLEVELAND - 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.
It says revenue fell to $4.4 billion from $5.2 billion a year ago.
Goodyear says it earned 45 cents before charges. Analysts expected 40 cents per share.
Its shares are up 21 cents at $16.95 in premarket trading.
Advertisement
Reader Reactions
Bout time for what?
it’s bout time
Porkchop, I have heard that too. That workers can be fired for little of nothing, losing not only the job but their benefits and retirement options. It is a travesty! I have nothing but respect for Goodyear workers. I have been there, done that. I don’t even wish Goodyear any harm. But I wish people would just come look at what is washing above ground here. God knows what is below ground, it is surely worse than we think.
I am giving Goodyear and FPC every chance to step up and be responsible corporate citizens. But if they don’t ask, then I will go Nationwide and raise some bad publicity with LOUD people. I have no choice in this matter. My family is the biggest loser here. My aunt built a house that SHOULD be worth over $300,000. She has her entire life savings in it. Remember, there is nothing in the deedbooks (or wasn’t when we started) about an industrial hazardous waste dump. It is on the Superfund list. The worst of the worst. A hazarous waste landfill in Providence. It is bad for the whole county, and the water that runs out runs right into Pumpkin Creek, then through Southern Danville. There is language about a SOLID WASTE DUMP in the deedbooks.. We were told it was because the old houses that were torn down on the farm that had asbestos in them were burned and buried there, and old farm equipment that MAY have had paint on the metal. So no worries. Then we started finding tires, so we got suspicious. Then 55 gallon drums started washing out of the ground. I then contacted the gov’t and found out the real deal. Or as much as the gov’t will tell me. They have been forthcoming though, I was surprised. Yet Goodyear and FPC are remaining silent. WHY? Neither I nor the dump is going away. I have double copies of everything at different locations.
Go to www.bryantfarmdrumdump.blogspot.com and see for yourself. Or call me at 336-388-9980, my home number from Fri, Sat, and Sunday, or 434-835-6538 after 5:30 on Mon thru Thurs. I will gladly give tours to ANYONE.
To the responsible parties, go ahead and contact me so we can get this behind us. It is sure to get bigger, badder and nastier as time goes by. I am very reasonable, easy to deal with. But I am not a fool. I do know how serious this is now.
Thank you,
Randy Dowdy
283 Dowdy Lane
Providence NC 27315
bryantfarmdrumdump@yahoo.com
@ Porkchop- You are exactly right! They don’t care about us…they just want us out so cheaper labor can come in. What they fail to realize is that experience is what counts.
Keep fighting Randy!
Randy, word on the street is that Gdyr somehow managed to sneak language into the master contract that empowers them to skip steps one and two of the grievance procedures and go directly to step 3. I guess I don’t have to elaborate on what step three is, but I’ve heard that Gdyr is firing employees with 25,30 and more, years of service for “infractions” that in the past wouldn’t have even warranted a second look. In other words, all the folks who have dedicated their working lives to growing the company are being tossed out the door for nothing and in that way Gdyr doesn’t have to buy them out or pay their pensions that they earned. Sounds exactly like something Gdyr’s management people would do. They did it to me in 96/97 when I got sick and couldn’t work, so I’ve “been there and lived that.“
Have you tried getting WSLS10 or Fox News to do an expose’ on the site? Seems like Greenpeace or PETA would relish an opportunity to put on a huge protestwith lots of cameras and speeches and other publicity. Heck man, you could even have Ben down to extoll upon the evils of capitalism and show everyone how the lure of easy money led some nefairious knucklehead to recklessly discard all the dangerous chemicals and debris found there; but wait! Don’t dispair! Big Red to the rescue, just in time to save the day. Our hero!
Just like the controversy in Chatham over the “eyesores” (Is one man’s eyesore another man’s masterpiece?) then shouldn’t Ben step up,man up and clean up this mess he so handsomely profitted from? Sounds like a load of “something”, though I’m not sure how it should be spread around.
Funny you should ask! They can go ahead and clean up the disaster at the Federal Superfund Hazardous Waste Dump in Providence, which contains their chemicals, now, or they can wait til this becomes a true public relations nightmare. It is not going away, and neither am I. But if they would just contact me, and accept responsibility, I would be very easy to deal with. www.bryantfarmdrumdump.blogspot.com has all the details, with admissions from the local waste company, and documents from the gov’t. I would not say anything, nor put my name and reputation on the line, if I could not prove every letter of every sentence of what I say. I speak the truth, and let it fall where it may. There is no need to keep ignoring or evading this, face it like a good corporate citizen, if they are one, and let’s get on with the cleanup!
Randy Dowdy and family
283 Dowdy Lane
Providence NC 27315
434-835-6538
I will gladly give anyone a tour of the above ground waste, barrels of chemicals which have rusted out and poisoned our water supply, raw rubber, aircraft tires, and other Goodyear debris. Come one, come all. See it for yourself, for seeing is believing in this case.
Thank you. R Dowdy
Randy, Do you have any ideas about how Goodyear should spend all the extra money ?
Post a Comment(Requires free registration)
- Please avoid offensive, vulgar, or hateful language.
- Respect others.
- Use the "Flag Comment" link when necessary.
- See the Terms and Conditions for details.
Find us on Facebook
Follow us on Twitter
Advertisement