Goodyear update – share price holds up

It was a quiet day on the legal front for Goodyear yesterday, with only one more law firm announcing that it was going to bring a class action against the company, following the recent admission that income had been over-stated. Reaction to recent events has been mixed, with website message boards showing a sharp divergence of views – unsurprisingly, there are bitter comments about the management, both past and present, but there are harsh words too for the lawyers, who some see as exploiting an unfortunate situation for financial gain. Taking Goodyear’s share price as a barometer of opinion shows that yesterday it rose 17 cents, to close at $6.