Goodyear Tire and Rubber Company


Goodyear Tire and Rubber Company

Infobox_Company
company_name = The Goodyear Tire & Rubber Company
company_
company_type = Public (nyse|GT)
foundation = Akron, Ohio (1898)
location = flagicon|USA 1144 East Market Street, Akron, Ohio 44316
Phone: 330-796-2121
Fax: 330-796-2222
key_people = Robert Keegan, CEO
industry = Manufacturing
products = Tires
revenue = profit US$ 19.6 billion (2007)
operating_income = profit US$ 1.6 billion (2007)
net_income = profit US$ 0.6 billion (2007)
num_employees = 70,000
homepage = [http://www.goodyear.com www.goodyear.com]

The Goodyear Tire & Rubber Company was founded in 1898 by Frank Seiberling. Today it is the third largest tire company in the world after Bridgestone and Michelin. Goodyear manufactures tires for automobiles, commercial trucks, race cars, airplanes, and heavy earth-mover machinery.

Although the company was not connected with him, it was named in honor of Charles Goodyear. Goodyear invented vulcanized rubber in 1839. The first Goodyear Tires became popular because they were easily detachable and low maintenance.

Goodyear is famous throughout the world because of the Goodyear blimp. The first Goodyear blimp flew in 1925. Today it is one of the most recognizable advertising icons in America. Goodyear is a former component of the Dow Jones Industrial Average. [ [https://www.globalfinancialdata.com/articles/dow_jones.html History of DJIA, globalfinancialdata.com] ]

Company Locations

Principal operating facilities [ [http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=5725226-101890-105045&type=sect&dcn=0000950152-08-001092 SEC Form 10K - Annual Report filed 2/14/2008] ] :

North American Tire Manufacturing Facilities. North American Tire owns (or leases with the right to purchase at a nominal price) and operates 23 manufacturing facilities in the United States and Canada. • 10 tire plants (8 in the United States and 2 in Canada), • 1 steel tire wire cord plant, • 4 chemical plants, • 1 tire mold plant, • 3 tire retread plants, • 2 aviation retread plants, and • 2 mix plants (1 in the United States and 1 in Canada).

These facilities have floor space aggregating approximately 24.9 million square feet.

European Union Tire Manufacturing Facilities. European Union Tire owns and operates 15 manufacturing facilities in 5 countries, including: • 11 tire plants, • 1 steel tire wire cord plant, • 1 tire mold and tire manufacturing machines facility, • 1 aviation retread plant, and • 1 mix plant. These facilities have floor space aggregating approximately 13.4 million square feet.

Eastern Europe, Middle East and Africa Tire Manufacturing Facilities. Eastern Europe Tire owns and operates 5 tire plants in 4 countries. These facilities have floor space aggregating approximately 7.3 million square feet.

Latin American Tire Manufacturing Facilities. Latin American Tire owns and operates 9 manufacturing facilities in 5 countries, including 6 tire plants, 1 textile mill, 1 tire retread plant, and 1 aviation retread plant. These facilities have floor space aggregating approximately 5.6 million square feet.

Asia Pacific Tire Manufacturing Facilities. Asia Pacific Tire owns and operates 10 tire plants and 2 aviation retread plants in 9 countries. These facilities have floor space aggregating approximately 6.2 million square feet.

Plant Utilization. Worldwide tire capacity utilization rate was approximately 86% during 2007 compared to approximately 82% in 2006 and 87% in 2005. 2007 utilization increased due to the recovery from the 2006 USW strike.

Other Facilities. Goodyear also owns and operates three research and development facilities and technical centers, and three tire proving grounds. The company also operates more than 1,800 retail outlets for the sale of our tires to consumers, approximately 60 tire retreading facilities and approximately 160 warehouse distribution facilities. Substantially all of these facilities are leased.

History

Early History 1898-1926

The first Goodyear factory opened in Akron Ohio in 1898. The thirteen original employees manufactured bicycle and carriage tires, rubber horseshoe pads, and poker chips. The company grew with the advent of the automobile.

In 1901 Frank Seiberling provided Henry Ford with racing tires. By 1908 Ford was outfitting his Model T with Goodyear tires. A year later Goodyear manufactured its first aircraft tire.

In 1911 Goodyear started experimenting with airship design. It later manufactured airships and balloons for the U.S. military during World War I. The transport and reconnaissance capabilities that Goodyear provided contributed significantly to the Allied victory.

By 1926 Goodyear was the largest rubber company in the world. Only four years earlier they were forced to temporarily cease race tire production due to competition. Nevertheless, the popularity of the Goodyear tire on the racing circuit led to a popular demand for the brand.

Expansion 1926-1990

For the next sixty years Goodyear grew to become a multinational corporation with multi-billion dollar earnings. It acquired their rival Kelly-Springfield Tire in 1935. During World War II Goodyear manufactured Corsair fighter planes for the U.S. Military. By 1956 they owned and operated a nuclear processing plant in Ohio.

In 1944 entered to Mexico in Joint-Venture with Cia. Hulera "El Oxo", S.A. de C.V., therefore the company is "Goodyear Oxo"

Sales for 1969 topped $3 billion, five years later sales topped $5 billion and it boasted operations in thirty four countries. In 1978 the original Akron plant was converted into a Technical Center for research and design. By 1985 worldwide sales exceeded $10 billion dollars.

The Goodyear Aerospace Corporation, a holding that developed from the Goodyear Aircraft Company after World War II designed a supercomputer for NASA's Goddard Spaceflight Center in 1979, the MPP. The subsidiary was sold in 1987 to the Loral Corp. as a result of restructuring.

The Goldsmith affair

In 1986 The Goodyear Rubber & Tire Company was a victim of a Greenmail attack. British financier James Goldsmith in conjunction with the investment group Hanson purchased 11% of Goodyear stock. They threatened to take the company over unless Goodyear bought back the shares at a highly inflated price.

The following year Goodyear retaliated with a massive restructuring. The company sold subsidiaries, closed plants, and tried to damage itself financially to make it an unsuitable takeover target. The plan worked but Goldsmith reportedly still walked away with $90 million for his efforts.

1990 to Present

The last major restructuring of the company took place in 1991. Goodyear hired Stanley Gault, former CFO of Rubbermaid inc, to expand the company into new markets. The moves resulted in 12,000 employees being laid off.

Recent History

Last July 10, 2008, the Goodyear Tire & Rubber Company has been recognized as one of America’s most respected companies by the Reputation Institute (RI) and Forbes magazine. Goodyear ranked 16th on the magazine’s thirdannual listing of companies with the best reputations in the United States, which was released on www.forbes.com. [ [http://www.forbes.com/leadership/2008/06/10/reputation-institute-report-lead-cx_mk_0610reputable_table.html The 75 Most Reputable Companies in the U.S.] Retrieved 10 July 2008]

The list is based on the results RI’s Global Pulse consumer opinion survey, which measures the overall respect, trust, esteem, admiration and good feelings consumers hold toward the world’s largest companies. [ [http://reputationinstitute.com/events/US_Results-Global_Pulse_08.pdf The Most Respected Companies in the United States - Reputation Institute Releases Results of its Global Pulse U.S. 2008 Study] Retrieved 4 June 2008]

Scores are based on RI’s seven dimensions of reputation: products/services, innovation, workplace, citizenship, governance, leadership and performance. RI said the 2008 survey indicates that consumers are most influenced by a company’s high-quality products and services as well as its governance and citizenship.

Goodyear’s score of 76.0, represented a 7.54 point increase over 2007 and was the largest year-over-year improvement of any company on the list. Goodyear is the only tire company on the top-75 list.

The recognition from RI and Forbes is the fifth significant honor for Goodyear in 2008. The company was named the world’s most admired company in the motor vehicle parts industry by Fortune magazine. [ [http://money.cnn.com/magazines/fortune/mostadmired/2008/industries/34.html America's Most Admired Companies 2008] Retrieved 17 March 2008 ] Audit Integrity Inc. and Forbes magazine ranked Goodyear sixth on their list of America’s most trustworthy companies. [ [http://www.forbes.com/leadership/2008/03/27/companies-accounting-governance-lead_0327large.html?partner=whiteglove_google America's Most Trustworthy Companies] Retrieved 27 March 2008] The Wall Street Journal recognized Goodyear for leading shareholder return for the past five years in the automotive category. Goodyear was also ranked among the Top 100 Corporate Citizens selected by CRO magazine. [ [http://www.thecro.com/node/615 100 Best Corporate Citizens 2008] Retrieved 19 February 2008]

Timeline

* 1898 — "Goodyear Founded"
* 1901 — "Seiberling makes racing tires for Henry Ford"
* 1908 — "Ford's Model T is outfitted with Goodyear tires"
* 1909 — "1st aircraft tire"
* 1911 — "1st airship envelope"
* 1917 — "made airships & balloons for the U.S. military during World War I"
* 1919 — "tires on the winning car at the Indianapolis 500"
* 1925 — "first blimp, "Pilgrim" is launched
* 1926 — "world's largest rubber company"
* 1935 — "acquired Kelly-Springfield Tire"
* 1956 — "Goodyear-operated U235 atomic processing plant opens in Ohio"
* 1958 — "enters racing to counter "stodgy" image"
* 1967 — "Goodyear introduces the Polyglas tire, one of the first wide-tread bias-belted fiberglass tires, which along with similar tires from competitors such as the Firestone Wide-Oval would become regular equipment on 1970 to 1974 models, which would be superseded by radial tires beginning in 1975."
* 1969 — "Stock splits two for one"
* 1974 — "sales reach $5 billion"
* 1978 — "Akron plant converted into Technical Center for R&D"
* 1979 — "Lilly Ledbetter, the plaintiff, began work at the Goodyear Tire and Rubber Company in its Gadsden, Alabama location" Ledbetter v. Goodyear Tire & Rubber Co.
* 1984 — "worldwide sales exceed $10 billion"
* 1986 — "James Goldsmith takeover attempt"
* 1987 — "massive restructuring"
* 1987 — "completion of the California - Texas "All American" oil pipeline"
* 1994 — "electronic store" opened on the CompuServe network"
* 1998 — "after early retirement, Ledbetter sued claiming pay discrimination under Title VII of the Civil Rights Act of 1964 and the Equal Pay Act of 1963." Ledbetter v. Goodyear Tire & Rubber Co.
* 1999 — "Goodyear Dunlop enters joint venture with Sumitomo Rubber"
* 2006 — "end of car tire production in the UK, closure of the Washington plant"
* 2007 — "Sale of the Engineered Products Division to the Carlyle Group; EPD is renamed [http://www.veyance.com Veyance Technologies] "
* 2006 — "Final Appeal on Ledbetter Case decided May 29, 2007" Ledbetter v. Goodyear Tire & Rubber Co.
* 2008 — "Fatal explosion at Houston plant"
* 2008 — "Wolverhampton, UK plant partly reduced to rubble as part of a regeneration and housing project with the famous 81 year old [http://www.expressandstar.com/2008/06/30/iconic-chimney-is-felled chimney stack demolished] on Sunday 29th June"

Corporate Structure and Leadership

The Goodyear Tire & Rubber Company is structured into the following units:
*Asia Pacific Region
**Pierre E. Cohade, President
*Europe, Middle East & Africa Business
**Arthur de Bok, President
*Latin American Region
**Eduardo A. Fortunato, President
*North American Tire
**Richard J. Kramer, PresidentCurrent members of the board of directors of Goodyear are: James C. Boland, John G. Breen, Gary D. Forsee, William J. Hudson Jr., Steven A. Minter, Denise M. Morrison, Rodney O'Neal, Shirley D. Peterson, G. Craig Sullivan, Thomas H. Weidemeyer, Michael R. Wessel, W. Alan McCollough, and Robert J. Keegan (chairman).

Robert J. Keegan is also the chief executive officer of the company (since 2002), succeeding Samir G. Gibara.

ubsidiaries

*Dunlop Tyres

*The Kelly Springfield Tire Company

* Fierce

*Lee

*Sava Tyres ("Slovenia")

*Fulda ("Germany")

*Debica ("Poland")

Corporate Issues

exual Discrimination Lawsuits

Ledbetter v. Goodyear Tire & Rubber Co., 550 U.S. ___ (2007), is an employment discrimination decision of the Supreme Court of the United States. Justice Alito held for the five-justice majority that employers are protected from lawsuits over race or gender pay discrimination if the claims are based on decisions made by the employer 180 days ago or more.

This was a case of statutory rather than constitutional interpretation. The plaintiff in this case, Lilly Ledbetter, characterized her situation as one where "disparate pay is received during the statutory limitations period, but is the result of intentionally discriminatory pay decisions that occurred outside the limitations period." In rejecting Ledbetter's appeal, the Supreme Court said that "she could have, and should have, sued" when the pay decisions were made, instead of waiting beyond the 180-day statutory charging period.

Justice Ginsburg dissented from the opinion of the Court, [4] joined by Justices Stevens, Souter, and Breyer. She argued against applying the 180-day limit to pay discrimination, because discrimination often occurs in small increments over large periods of time. Furthermore, the pay information of fellow workers is typically confidential and unavailable for comparison. Ginsburg argued that pay discrimination is inherently different from adverse actions, such as termination. Adverse actions are obvious, but small pay discrepancy is often difficult to recognize until more than 180 days of the pay change. Ginsburg argued that the broad remedial purpose of the statute was incompatible with the Court's "cramped" interpretation. Her dissent asserted that the employer had been, "Knowingly carrying past pay discrimination forward" during the 180-day charging period, and therefore could be held liable.

More at Ledbetter v. Goodyear Tire & Rubber Co.

No Firearms Policy

Recently customers have noticed a "no firearms allowed" sign posted on the entrance doors to all Goodyear stores. The official response from the company is as follows:

: "In an effort to ensure the safety and security of our associates and customers, we have a clear company policy regarding weapons in the workplace. The Goodyear Tire and Rubber Co. prohibits all persons who enter Company property from carrying a handgun, firearm, or prohibited weapon of any kind onto the property regardless of whether the person is licensed to carry the weapon or not. Exceptions apply to on-duty law enforcement personnel. This policy applies to all Company employees, visitors, customers, and contractors on Company property -- including our Company-owned stores. All Company properties have received a decal or sign referencing this policy, and have been instructed to post it."

The policy also restricts off-duty officers of the law from carrying a firearm into the store as well.

Environmental record

Researchers at the University of Massachusetts Amherst identified Goodyear as the 25th-largest corporate producer of air pollution in the United States, with roughly 4.16 million lbs of toxins released into the air annually. Major pollutants included sulfuric acid, cobalt compounds, and chlorine. [ [http://www.peri.umass.edu/Toxic-100-Table.265.0.html Political Economy Research Institute Toxic 100] Retrieved 14 August 2007] The Center for Public Integrity reports the Goodyear has been named as a potentially responsible party in at least 54 of the nation's Superfund toxic waste sites. [ [http://www.publicintegrity.org/Superfund/SiteResults.aspx?act=goodyear Center For Public Integrity Superfund Project] Retrieved 14 August 2007]

In a February 8, 2008 press release Goodyear introduced the launch of a environmentally friendly tire produced using corn starch-based material. The Goodyear Eagle LS2000 partially replaces the traditional carbon black and silica with filler materials derived from corn starch thanks to "BioTRED compounding technology". The new technology increases the tires "flexibility and resistance to energy loss", which extend the tires life-span and lessen the impact on the environment. [ [www.goodyear.com.au/public/download.jsp?id=1017 "Goodyear Launch Environmentally Friendly Tire With Corn Starch"] February 8, 2008. Accessed May 6, 2008] Similarly, Goodyear announced on April 22nd, 2008 that it has joined the U.S. Environmental Protection Agency's SmartWay Transport Partnership. The transport partnership is an attempt between the truck transportation industry and the EPA to reduce air pollution and greenhouse emissions as well as increase energy efficiency. The SmartWay partnership's tractors and trailers will use Goodyear's Fuel Max linehaul tires that increase fuel efficiency while reducing emissions. According to Goodyear and EPA officials "the fuel-efficient line-haul tires deliver up to 4 percent improvedtruck fuel economy, and when used with other SmartWay-qualified components, each 18- wheel tractor and trailer used in long-haul can produce savings of up to 4,000 gallons per year, or more than $11,000 annually." [ [http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=109&STORY=/www/story/04-22-2008/0004797936&EDATE= "Goodyear Joins U.S. EPA SmartWay Transport Partnership"] April 22, 2008. Accessed May 6, 2008]

Goodyear's plants in Aurangabad and Ballabgarh, India have received recognition for their excellence in energy conservation, efficiency and management with awards from both state and national governments. [ [http://www.goodyear.com/corporate/about/responsibility/energy-conservation.html "Energy Conservation"] Accessed May 6, 2008]

Goodyear Products

Automotive

*Assurance ("cars & minivan")
**TripleTred Technology
**ComforTred Technology
*Fortera ("suv")
**Silent Armor Technology
**TripleTred Technology
*Wrangler ("truck")
**Silent Armor Technology
**ProGrade Technology
***Heavy Duty
*Eagle ("performance")
**Response Edge
***Carbon Fiber Technology
*Nordic (Winter tires)
*Ultra Grip (winter tires)

Commercial

*Commercial Truck
**Fuel Max
**Duraseal
*Off The Road Tires
**Articulated Dump Truck
**Rigid Haulage Truck
**Mobile Crane
**Scaper
**Port & Container Handling
**Dozer and Loader
**Mine Service
**Motor Grader
*ATV Tires
**Rawhide Camo
**Rawhide MT/R
*RV Tires
**Unisteel series ("G670RV, G149RSA, G169RSA, G647RSS, G614RST")
**Wrangler HT ("all weather")
**Marathon ("trailer towing")
*Aviation

Non-Tire Industrial

*Airsprings
*Industrial hose
*Hydraulic products
*Conveyor belt products
*Power transmission products
*Molded Transportation products ("vibration control")
*Rubber Track
*Isoprene monomer
*Synthetic rubber for medical applications
*Synthetic rubber for chewing gum

ee also

* List of tire companies

People

*Charles Goodyear
*Frank Seiberling

Other related topics

*Ledbetter v. Goodyear Tire & Rubber Co. Sexual Discrimination Lawsuit
*Goodyear Blimp
*Goodyear Inflatoplane
*Goodyear Aerospace
*Formula One tires

*BFGoodrich
*Bridgestone
*Continental Tire
*Cooper Tire & Rubber Company (US company purchased Avon)
*Firestone
*Kumho Tires
*Hankook
*Michelin
*Nokian Renkaat
*Pirelli
*Toyo Tire
*Uniroyal
*Kelly Springfield Tire
*Dunlop
*CEAT

References

Trivia

*In the Japanese anime, Yu Yu Hakusho, the brand of tire is called "Bad Year"
*In "", Frank Drebin remarks "It’s the same old story. Boy finds girl, boy loses girl, girl finds boy, boy forgets girl, boy remembers girl, girls dies in a tragic blimp accident over the Orange Bowl on New Year’s Day". Jane Spencer then asks "Goodyear?", to which Frank responds "No, the worst".
*In the 2007 film Hairspray, in history class, Amber Von Tussle claims that Tracy could get sponsored by Goodyear, referring to her morbid obesity.
* In the Disney/Pixar movie "Cars" Lightning McQueen runs on "Lightyear" tires, an obvious reference to Goodyear's long-standing relationship as the sole tire supplier for NASCAR; there's even a Lightyear blimp. The name is also a reference to "Toy Story" series character, Buzz Lightyear.
* Goodyear supposedly developed custom tires for the Batmobile for use in one of the recent "Batman" movies. The tires featured the Batman logo as a tread pattern.
* Goodyear sponsored Wolverhampton Wanderers Football Club from 1986 until 2002. It has a factory located in the City, and until 1994 also had a factory in nearby town, Dudley.
*In the video game Call of Duty 4, one of the unlockable cheats is called "A Bad Year." When activated, enemies explode into a mass of tires when killed. This is obviously a reference to Goodyear.

Further reading

* Richard Korman. "The Goodyear Story: An Inventor's Obsession and the Struggle for a Rubber Monopoly" (2002)
* Ronald P. Conlin; "Goodyear Advertising Research: Past, Present and Future" Journal of Advertising Research, Vol. 34, 1994. The real story of Goodyear.

External links

* [http://www.goodyear.com Goodyear Tire & Rubber Company Homepage]
* [http://www.summitmemory.org/cdm4/results.php?CISOOP1=all&CISOBOX1=&CISOFIELD1=CISOSEARCHALL&CISOOP2=exact&CISOBOX2=Goodyear&CISOFIELD2=CISOSEARCHALL&CISOOP3=any&CISOBOX3=&CISOFIELD3=CISOSEARCHALL&CISOOP4=none&CISOBOX4=&CISOFIELD4=CISOSEARCHALL&CISOROOT=all&t=a&CISOSTART=1,1 Goodyear images and documents] from the Summit Memory Project


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