Tiremakers find no windfall in Firestone's recall
Article Abstract:
Wall Street analysts say the recall of Bridgestone/Firestone tires will not translate to higher earnings for other tiremakers. For instance, Goodyear's earnings for 2000 will amount to only $1.60 to $1.70 per share, according to analyst Nicholas Lobaccaro. He says that Goodyear like other tiremakers will incur higher prices for raw materials, particularly petroleum chemicals needed in making tires. On the other hand, Bridgestone/Firestone said it will sustain a $350-million charge because of the recall.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2000
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Study: no root cause for tread separations; broader recall sought
Article Abstract:
Safety advocates want Firestone to expand its tire recall after an independent researcher found no single overriding reason why Firestone tires lose their tread. The study was done by Sanjay Govindjee, a civil engineering professor at the University of California at Berkeley, and who was hired by Bridgestone/Firestone to do an independent study. Govindjee's findings point to several factors including heavy loads, heat buildup, low tire pressure and manufacturing differences at the tiremaker's plant in Decatur, IL.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2001
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Goodyear ties loss to auto slowdown
Article Abstract:
Goodyear Tire and Rubber Co registered a loss of $102 million during 4th qtr 2000, which the US' largest tiremaker attributed to fewer tire orders from automakers. Despite the fourth-quarter loss, the company reported record annual sales of $14.4 billion and a 14.6% jump in shipments of replacement tires to North American consumers. Goodyear said it would reduce production to reduce operating costs by $150 million in 2001 and $250 million annually thereafter.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2001
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Comment about this article or add new information about this topic:
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