Goodyear Reaches Contract Agreement with Steelworkers

While details of a contract settlement won't be disclosed until workers have had a chance to review the proposal, Goodyear Tire & Rubber (NASDAQ: GT  ) and the United Steelworkers union said they have reached an agreement on a new master contract covering about 8,000 employees at six U.S. plants.

According to the union representative, the tentative agreement must be approved by a majority of the six local unions representing a majority of the membership at plants in Akron, Ohio; Gadsden, Ala.; Buffalo, N.Y.; Topeka, Kan.; Danville, Va., and Fayetteville, N.C.

Steelworkers struck Goodyear for three months in 2006, costing the tire maker $367 million. The union had advised members to plan for a strike again if the talks fell through, but at 11 p.m. before the deadline expired, the two sides reached their agreement. 

Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2565852, ~/Articles/ArticleHandler.aspx, 11/25/2015 12:12:41 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Rich Duprey

Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time.

Having made the streets safe for Truth, Justice and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. So follow me on Facebook and Twitter for the most important industry news in retail and consumer products and other great stories.


Today's Market

updated Moments ago Sponsored by:
DOW 17,828.79 16.60 0.09%
S&P 500 2,091.75 2.61 0.12%
NASD 5,120.49 17.68 0.35%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

11/25/2015 11:56 AM
GT $34.68 Up +0.21 +0.61%
The Goodyear Tire… CAPS Rating: ***