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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.[1] 
Company LocationsPrincipal operating facilities [2]:
These facilities have floor space aggregating approximately 24.9 million square feet.
These facilities have floor space aggregating approximately 13.4 million square feet.
HistoryEarly History 1898-1926The 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 1926-1990For 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, Goodyear created a subsidiary in Mexico in a joint venture with Compañía Hulera,S.A. de C.V., Compañía Hulera Goodyear-Oxo, S.A. de C.V. or 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 affairIn 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 PresentThe last major restructuring of the company took place in 1991. Goodyear hired Stanley Gault, former CFO of Rubbermaid to expand the company into new markets. The moves resulted in 12,000 employees being laid off. 
Recent HistoryOn July 10, 2008, the Goodyear Tire & Rubber Company was recognized as one of America’s most respected companies by the Reputation Institute (RI) and Forbes magazine. Goodyear ranked 16th on the magazine’s third annual listing of companies with the best reputations in the United States.[3] 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.[4] 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.[5] Audit Integrity Inc. and Forbes magazine ranked Goodyear sixth on their list of America’s most trustworthy companies.[6] 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.[7] Timeline
Corporate Structure and LeadershipThe Goodyear Tire & Rubber Company is structured into the following units:
Current 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. Subsidiaries
Corporate IssuesSexual Discrimination LawsuitsLedbetter 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 PolicyRecently 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:
The policy also restricts off-duty officers of the law from carrying a firearm into the store as well. Environmental recordResearchers 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. [8] 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. [9] On February 8, 2008, Goodyear announced the launch of a environmentally friendly tire produced using a 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.[10] Similarly, Goodyear announced on April 22nd, 2008 that it had 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 improved truck 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."[11] 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.[12] Goodyear ProductsAutomotive
Commercial
Non-Tire Industrial
See alsoPeopleOther related topics
Motor racing
References
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External links
Categories: Companies listed on the New York Stock Exchange | Goodyear Tire and Rubber Company | Companies based in Akron, Ohio | Automotive companies of the United States | Manufacturing companies of the United States | Tire manufacturers | Companies established in 1898 | Companies based in Wolverhampton | Former components of the DJIA CommentsNo comments have been added. |
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