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Entries in Goodyear (3)

Friday
Mar222013

Strong Corporate Earnings Push Stocks Higher to End Week 

Hemera/Thinkstock(NEW YORK) -- Strong corporate earnings pushed stocks higher to end the week, with the Dow up 91 points at 14,512 and the Nasdaq up 22 points at 3,245.

The S&P gained 11 points for the day to 1,557.

Robust earnings from Nike and Tiffany were the big drivers.  Nike's stock hit a record after the company announced a surge in quarterly profit, while Tiffany rose after its earnings beat expectations by about one percent.

Fitch Ratings is placing the United Kingdom's triple-A rating on review for a downgrade.  The warning comes just days after Britain's treasury chief unveiled an austere budget, despite weakness in the economy, and raises fears of another recession.

A New Jersey compounding pharmacy that issued a national recall of all of its drugs will remain closed for two more weeks.  Med Prep Consulting is investigating the cause of contamination found in bags of an IV drug given to women to control seizures and premature labor.

Goodyear's adding a new blimp to its iconic line of airships. It'll be larger, faster, and carry more passengers.

Copyright 2013 ABC News Radio

Thursday
Feb212013

US CEO Berates French Workers’ 3-Hour Days

PHILIPPE HUGUEN/AFP/Getty Images(NEW YORK) -- An American CEO is jostling café au lait cups in France after declining to invest in a struggling French factory because its “so-called workers” get high wages for working three-hour days.

Maurice Taylor, chairman and chief executive of tire company Titan International Inc., based in Quincy, Ill., wrote a letter to French Industry Minister Arnaud Montebourg, declining to buy a Goodyear tire factory that is being closed in Amiens, France.

“I have visited the factory several times,” Taylor wrote in the letter, as reported by Bloomberg. “The French workforce gets paid high wages but works only three hours. They get one hour for breaks and lunch, talk for three and work for three. I told the French union workers this to their faces. They told me that’s the French way!”

According to Titan’s website, “Taylor was nicknamed 'The Grizz' by Wall Street analysts for his tough negotiating style.”

He ran for the Republican presidential nomination in 1996.

Titan International Inc. did not return a request for comment.

“The workers of Goodyear would have considered themselves insulted had the author of the letter been someone credible,” the General Confederation of Labor, or CGT union, said in an e-mailed statement to Bloomberg.

Unemployment in France is at a 15-year high and the closing of the plant means the loss of another 1,173 jobs.

Copyright 2012 ABC News Radio

Friday
Apr292011

Goodyear Announces Record Sales in First Quarter

Goodyear Tire & Rubber Company/PRNewsFoto(AKRON, Ohio) -- The Goodyear Tire & Rubber Company came out with its first quarterly report of 2011 Friday, announcing sales of $5.4 billion, the highest its ever achieved in any quarter.

The tire company's record-breaking sales were up 27 percent from the same time period last year.  Goodyear also said its first quarter net income was $103 million, or 42 cents per share, reversing the net loss of $47 million it tallied in 2010.

Meanwhile, tire sales amounted to 46.8 million, an increase of nearly seven percent from last year.

Copyright 2011 ABC News Radio







ABC News Radio