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Wingfoot Two: Second Goodyear blimp ‘christened’

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A crowd of more than 2,000 spectators looked on last Friday as a ceremonial bottle of champagne was broken over the nose of Goodyear Tire & Rubber’s newest blimp and it was officially given the name Wingfoot Two. The 246 foot airship was built in the USA by German firm Zeppelin NT and is the second of the new-generation ‘blimp’ fleet to enter service. It and its older sibling the Wingfoot One, which took to the air in 2014, are 50 feet longer than the previous generation of blimps and, at 73 mph, can travel more than 20 mph faster.

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Charges deflate Goodyear’s strong operating performance

A one-time pre-tax charge of US$646 million linked to the deconsolidation of its Venezuelan subsidiary’s financial statements dragged Goodyear Tire & Rubber into the red in the fourth quarter of 2015. The tyre maker recorded a GAAP basis net loss of $380 million during the three months to 31 December 2015, a far cry from the $2.1 billion net income achieved a year earlier. Goodyear calculates that excluding certain significant items, most notably the abovementioned deconsolidation, adjusted net income came to $257 million, or $0.93 per share.

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  3. Goodyear defers dividend as volumes drop 18% in Q1 2020
  4. Goodyear: Q1 2017 income restrained by higher costs, lower demand
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Richard Kramer divests 29,000 Goodyear shares

Goodyear Tire & Rubber chairman, president and chief executive Richard J. Kramer has sold around ten per cent of his shares in the company he heads up. According to a document filed with the United States Securities and Exchange Commission, on 2 February the Goodyear boss disposed of 29,000 shares for an average price of US28.0403 per share – a total of $813,168. Following the transaction, Kramer retains 259,864 shares.

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Goodyear to merge North, Latin America businesses

The announcement that the current president of Goodyear’s Latin America business, Jean-Claude Kihn, will soon become president of its EMEA region coincides with the news that Goodyear Tire & Rubber will merge its North America and Latin America businesses into one Americas business unit, effective 1 January 2016. The combined business will be known as the Americas business unit and be led by Stephen R. McClellan, currently president of Goodyear’s North America business. Marcelo Toscani, now vice-president of global manufacturing, will serve as president of the company’s Latin America operations and report to McClellan.

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  4. Kihn to replace Wells as Goodyear’s EMEA president
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Kihn to replace Wells as Goodyear’s EMEA president

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Jean-Claude Kihn has been named president of Goodyear Tire & Rubber’s Europe, Middle East and Africa business. The president of the Latin America business will fully assume his new role on 1 January 2016, succeeding Darren R. Wells, who will leave Goodyear in early 2016.

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  1. Astronomical salaries – merely paid or actually earned?
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Goodyear now selling tyres online throughout the USA

In April, Goodyear Tire & Rubber chairman and chief executive Richard Kramer shared plans to introduce a company-owned online tyre retail platform in the USA. After opening for business in September, the tyre maker reports that the goodyear.com tyre sales site is now serving customers across the entire country. More than 4,000 outlets, including 600 Goodyear tyre and service centres, have joined the programme and will act as fitters for tyres purchased through the site.

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Astronomical salaries – merely paid or actually earned?

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The name “Rich” says it all. When people talk about Goodyear CEO Richard Kramer, they often shorten his name – and why not? After all, nobody is ashamed to be Rich in the land of unlimited possibilities, a country where a person (Donald Trump, to be precise) can publicly declare that “I am rich, really rich,” and still be nominated a presidential candidate. Massive wealth is viewed in the USA as a sign of intelligence, skill, seriousness, competence, common sense and all other positive qualities.

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Related news:

  1. Goodyear implements direct online sales in US
  2. Goodyear reaffirms 2015 targets with ‘strong’ 2Q results, despite EMEA troubles
  3. Kihn to replace Wells as Goodyear’s EMEA president
  4. Goodyear Tyre Wins Science Accolade
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Delaney to lead Goodyear’s Asia Pacific business, Smytka moving to new leadership role

After four years at the helm of Goodyear Tire & Rubber’s Asia Pacific business unit, Daniel L. Smytka has been earmarked for another leadership role within the company. He will be succeeded as president of the Asia Pacific region business by Chris Delaney, who joins Goodyear today. Delaney will assume full responsibility for the business on 1 January 2016; Smytka will work closely with Delaney on the transition before moving to his new position, in which he will report directly to Goodyear chairman and chief executive officer Richard J. Kramer.

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  1. Astronomical salaries – merely paid or actually earned?
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Goodyear reaffirms 2015 targets with ‘strong’ 2Q results, despite EMEA troubles

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Goodyear has reported strong overall results for its second quarter, despite falling sales in the Europe, Middle East and Africa region. The manufacturer reported that the 20 per cent lower sales, $1,265 million compared to $1,580 million in the same quarter in 2014, was primarily a result of “unfavourable foreign currency translation”, though it also saw two per cent lower tyre unit volume. This was a result of lower consumer tyre sales and the manufacturer’s exit from the agricultural tyre business. Both original equipment and replacement tyre shipments were down two per cent. Its EMEA operating income was also eight per cent below the 2014 2Q, though operating margin rose from 7.4 to 8.5 per cent.

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Related news:

  1. Goodyear defers dividend as volumes drop 18% in Q1 2020
  2. Astronomical salaries – merely paid or actually earned?
  3. Kihn to replace Wells as Goodyear’s EMEA president
  4. Charges deflate Goodyear’s strong operating performance
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Mexico plant our ‘most technologically advanced’, says Goodyear

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Together with Mexico’s President, Enrique Peña Nieto, Goodyear Tire & Rubber chairman and chief executive officer Richard J. Kramer has announced that the tyre maker’s new factory for the Americas will be built in San Luis Potosi. Goodyear says the new factory will be its most technologically advanced plant and have a capacity of six million consumer tyres per year. When it reaches full production, the factory will employ about 1,000 people.

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Goodyear plant to be built in Mexico

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According to numerous news sources, including Reuters and The Wall Street Journal, Goodyear Tire & Rubber will later today announce its decision to locate the company’s new factory for the Americas in Mexico’s San Luis Potosi state. Mexico was on a shortlist of potential sites for the new plant that reportedly also included Brazil, Columbia and, initially at least, the USA. Mexico’s President, Enrique Peña Nieto, will apparently announce his country’s selection by Goodyear together with senior company executives.

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US site Goodyear’s entry into online tyre retail

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Online tyre retailers are nothing new, and Michelin’s current 40 per cent share acquisition of leading French portal Allopneus shows the major manufacturers are taking an interest in this business. That said, no major tyre maker sells directly to the public over its own website – but this is about to change. As Goodyear chairman and chief executive officer Richard Kramer announced at the company’s annual shareholders meeting on 13 April, the US-based company is gearing up to begin rolling out online tyre sales in its homeland. Goodyear has yet to comment on whether it plans to extend these web retail activities to other markets.

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Goodyear declares 6 cent dividend at annual shareholder meeting

At its annual shareholder meeting yesterday, Goodyear Tire & Rubber declared a dividend of US$0.06 per share of common stock (payable June 1 2015 to shareholders of record on May 1 2015), and shareholders re-elected 13 of the company’s Board of Directors to new one-year terms. Goodyear chairman and chief executive officer Richard Kramer also reviewed the tyre maker’s performance in 2014.

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  3. Goodyear: Q1 2017 income restrained by higher costs, lower demand
  4. U.S. Senator to Goodyear: Workers are ‘tired of this corporate race to the bottom’
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China facility Goodyear’s 3rd global R&D centre

Goodyear Tire & Rubber has announced the establishment of the company’s first research and development facility in China. The new R&D centre is located at the tyre maker’s Pulandian plant in Liaoning Province and will focus on product customisation for original equipment fitments and project support services, supplementing the core tyre technology development that takes place in Goodyear’s global innovation centres in Akron (Ohio, US) and Colmar-Berg (Luxembourg). Goodyear says the facility in China will shorten the time taken to develop high-value-added tyres, particularly for China-based vehicle manufacturers.

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Goodyear delivers strong operating income in 2014

Although sales were down 5.2 per cent last year, Goodyear Tire & Rubber was nevertheless able to report record operating profit in 2014. Sales of US$18.1 billion for the year were impacted by $571 million in unfavourable foreign currency translation. Tyre unit volumes totalled 162 million, slightly lower than the 162.3 million recorded in 2013, with original equipment volumes down three per cent and replacement market tyre shipments up one per cent.

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  3. Goodyear: Q3 2018 results
  4. Goodyear defers dividend as volumes drop 18% in Q1 2020
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