Spencer Platt/Getty Image(MARICOPA COUNTY, Ariz.) -- Sheriff Joe Arpaio's attorneys said Saturday they plan to appeal a federal judge's finding that the Maricopa County Sheriff's Office, helmed by Arpaio, racially profiled Latinos while on immigration patrols.
Complaints of deputies pulling over and singling out people who are dark skinned and...
iStockphoto/ThinkStock(SAN ANTONIO, Tex.) -- Record rainfall hitting the city of San Antonio, Texas, in the past 24 hours is causing widespread flooding, with at least one confirmed death.
The National Weather Service says the city airport recorded about 10 inches of rain in 12 hours, breaking several records.
“It set a new daily record, not...
Stephen Brashear/Getty Images(MOUNT VERNON, Wash.) -- The trucker whose oversized load bumped the steel framework of a Washington State bridge just before it collapsed will be interviewed today by investigators from the National Transportation Safety Board, who are on the scene working to determine the cause of the collapse.
Three people were sent...
A new Hilton hotel is planned for the area near the former Goodyear headquarters site in East Akron.
The Beacon Journal reports that the $18 million dollar hotel will be a 136-room, five-story Hilton Garden Inn off East Market Street, and should open in June 2014.
It's part of the East End development spearheaded by Industrial Realty Group, which is redeveloping the former Goodyear campus.
The company recently officially opened its new world headquarters on Innovation Way.
Groundbreaking for the proposed Hilton Garden Inn in East Akron is set for this summer.
IRG plans to add offices, retail and residential projects in the former Goodyear campus.
On the Web: Akron Beacon Journal, www.ohio.com
It's official - Goodyear has moved. The company held a ribbon cutting ceremony Thursday morning for its new headquarters off Innovation Way in Akron.
The new building will serve as the central campus in Akron and as the headquarters for the company’s global operations and its North American tire business. It will connect with Goodyear’s existing Innovation Center.
Richard J. Kramer, Goodyear's chairman and CEO, said the new headquarters represents more than just a building.
"It represents the culmination of what we've been working towards, not only physically in the building, but how we're going to transform our company," said Kramer.
The company spent more than 100 years at its previous location off East Market Street.
Kramer says the new campus will attract innovative workers and ideas.
"What you need to attract those people is to have a work environment that is conducive to collaboration and what it takes to drive that innovation going forward," said Kramer.
In attendance at the ribbon-cutting ceremony was Ohio Lt. Gov. Mary Taylor and Akron Mayor Don Plusquellic.
"I was born and raised in Akron. So, when I think about Akron, I think about Goodyear," said Taylor. "When I think about Goodyear, I think about Akron."
Plusquellic spoke about Goodyear's iconic presence in the city.
"This new headquarters is a strong symbol of Goodyear's continuing presence in Northeast Ohio," said Plusquellic. "As if the blimp isn't enough by itself."
It’s the beginning of a new era for Goodyear with the first steps of construction taking place on their new high tech airships.
A longer, sleeker look makes a subtle change to the still recognizable blimp.
(Aerial footage courtesy of the Goodyear Tire & Rubber Company.)
Construction will happen over the next six years at Goodyear’s Wingfoot Lake Hangar with the help of the German Zeppelin Corporation.
Goodyear is replacing all three of its current blimps with the new fleet. Some of the major differences between the old and the new airships include:
The familiar buzzing sound you usually hear when the Goodyear blimp is above you will also be a little quieter.
Construction of the new airship will take about 6-7 months, including the structural build and the installation of advanced on-board avionics and flight control systems
It's moving week for one of Akron's biggest corporate names.
After 115 years in Akron, Goodyear will have a new address. The company begins moving into its new worldwide headquarters on Innovation Way - formerly Martha Avenue - this week.
Goodyear spokesman Scott Baughman says the tire-making giant will start occuping the new headquarters this week.
"We're gonna move the first of 200 associates in (this week)," Baughman tells AkronNewsNow.com, "and then for the next six weeks, about every two weeks, we'll move another 200 people in until everyone's moved into the new headquarters."
The move will be completed during the last week of March, when 1,800 employees join 1,000 workers already in place at the company's research and development building.
"We're thrilled that we're able to continue to make this commitment to Akron," Baughman says. "The new building is going to be tied into our Innovation Center, so we're going to have one campus for our entire Akron complex."
Baughman says they'll start moving in people who will be in the back of the 650,000 square foot building, to minimize disruption as more people move into the headquarters section by section.
The flagging economy stalled the project for a few years, but Baughman says local cooperation helped put it back on track.
The tough economy can be a struggle for anyone including military members who are looking for a job after serving their country.
Goodyear has announced it's commitment to help, joining the "Hiring our Heroes" program. Goodyear has committed to hiring 1,000 veterans over the next three years.
"All (veterans) deserve the opportunity for a second career," said Steve McClellan, president of Goodyear's North American Tire unit. "At Goodyear, we're proud to provide that chance."
McClellan says veterans are a great addition to the workforce, including leadership and dependability .
"They also have technical skills and abilities that translates well to working in the tire industry."
McCellan says the company is currently hiring veterans for a variety of positions including engineers, front-line managers and technicians.
Goodyear is the largest producer of military tires in the United States, according to McCellan.
The program created by the U.S. Chamber of Commerce aims to find jobs for 500,000 veterans and military spouses by the end of 2014.
On the Web: www.uschamber.com/hiringourheroes
Goodyear Tire & Rubber is reporting record sales ... and a net loss for the first quarter of 2012.
The company reports record sales of $5.5 billion January through March. That's up 2% from the same period last year, but offset by tire unit volumes, which were down 8%.
Company officials also say that's one thing that led to a net of $11 million, costing shareholders 5-cents per share.
Press Release from Goodyear:
The Goodyear Tire & Rubber Company today reported record sales for the first quarter of 2012.
“I’m pleased with our results as our businesses posted solid operating income,” said Richard J. Kramer, chairman and chief executive officer. “Our teams delivered these results in the face of a difficult volume environment and high raw material costs, with a strong focus on price/mix.
“Favorable results in North America, in spite of the weak industry environment, are a clear indication of our success in delivering innovation, targeting profitable market segments and driving operational excellence. As expected, Europe, Middle East & Africa’s results were affected by weak economic conditions, which remain uncertain, and warm winter weather,” he said.
“Our first quarter results demonstrated a consistent focus on our global Strategy Roadmap,” Kramer added. “We have positive momentum and I remain confident that we will reach our 2013 targets.”
Goodyear’s first quarter 2012 sales were $5.5 billion, up 2 percent from the 2011 quarter and a first quarter record. Tire unit volumes totaled 43 million, down 8 percent from 2011, reflecting weak industry demand in many markets. This compares to first quarter 2011 volumes that were up almost 7 percent from 2010.
First quarter sales reflect strong price/mix performance, which drove revenue per tire up 16 percent year-over-year, excluding the impact of foreign currency translation. Unfavorable unit volume and foreign currency translation reduced sales by $345 million and $108 million, respectively.
The company had segment operating income of $292 million in the first quarter of 2012, down $35 million from the year-ago quarter. Segment operating income reflected improved price/mix of $525 million, which more than offset $482 million in higher raw material costs ($420 million net of raw material cost reduction actions).
Segment operating income was negatively impacted by $54 million in lower volume and higher under-absorbed fixed costs of approximately $6 million. Cost inflation along with inefficiencies related to a plant closing in North America and poor productivity at factories in France more than offset the benefit of cost saving programs.
Goodyear’s first quarter 2012 net loss available to common shareholders was $11 million (5 cents per share), compared with net income of $103 million (42 cents per share) in the 2011 quarter. All per share amounts are diluted.
The 2012 first quarter included $86 million (35 cents per share) in charges resulting from the early redemption of senior notes; $14 million (6 cents per share) in rationalizations, asset write-offs and accelerated depreciation; $3 million (1 cent per share) in discrete tax charges; and gains of $5 million (2 cents per share) from the net impact of insurance recoveries related to the Thailand flood and $3 million (1 cent per share) from asset sales. All amounts are after taxes and minority interest.|
2012 Financing Actions
Goodyear successfully completed financing actions totaling $3.9 billion during 2012. In February, the company issued $700 million in 7.0% senior notes due 2022. The proceeds were used to redeem all of its outstanding $650 million 10.5% senior notes due 2016. In April, it refinanced $3.2 billion in credit facilities by amending and restating its principal U.S. credit facilities. The credit available under the company’s asset-based revolving credit facility was increased to $2.0 billion and its maturity extended until 2017. The maturity of the company’s $1.2 billion second lien term loan was extended until 2019.
Excited employees and anxious city leaders aren't the only ones keeping a close eye on the progress of construction of the new Goodyear headquarters complex. Summit County Council members say it's important for the county as well.
Council President Jerry Feeman says he's heard anything from 2,000 to 4,000 jobs.
Other than job retention, Feeman says he's excited about the projected redevelopment in the area surrounding the new campus.
"Stu Lichter (developer) is going to aggressively go after tenants and jobs," said Feeman. "Obviously, once that comes into play, you're going to have restaurants and other things that people enjoy to go down there."
Feeman compares it to what happened when GoJo took over the former B.F. Goodrich headquarters.
"They eliminated some of the buildings down at B.F. Goodrich that they couldn't use and enhanced some of the buildings that they could use," said Feeman.
The headquarters project is expected to be complete in the first half of 2013.
Goodyear's seen quite a turnaround and is now considered a hot stock to own -- in part because of an uptick in business worldwide but also because of a cultural shift to a company winning praise for innovation.
Jean-Claude Kihn is Goodyear's chief technology officer and perhaps a bit modest. Goodyear was recently recognized by Thompson-Reuters as one of the world's Top 100 most innovative companies along with other high-powered names such as Apple, Boeing, Intel, Panasonic, Siemens and Sony.
ANN Reports: Goodyear Recognized for Innovation by Edward Esposito
That innovation, Kihn says, extends outside the company as well to their consumers, customers, vendors, other companies as well to the academic world -- certainly the Polymer Engineering Center driving much of the University of Akron's forward-viewing development as a major center for engineering worldwide, but also with other universities and R&D operations around the globe. While Akron may view Goodyear as our hometown company, it's a name and brand known on every continent.
The secrets to being innovative? Understanding good ideas come from many perspectives, not just the top down, is required but Kihn points to the most important as courage -- courage to fail:
A big part of innovation for the future is the physical structure of the company's headquarters here in Akron, says Kihn -- looking forward to seeing the new headquarters building opening in 2013 playing a big role in the company's future innovation.
Press Release from Goodyear Tire & Rubber:
The Goodyear Tire & Rubber Company is making another significant gift to the Smithsonian National Air and Space Museum Tuesday - the second in two years - with the donation of the Goodyear blimp gondola, or car C-49.
The C-49 car goes to the Smithsonian on the heels of last year’s donation of a lifeboat used on the 1911 airship, Vaniman’s Akron, which utilized Goodyear’s first airship envelope.
“The C-49 is a welcome addition to our collection as it fairly represents the scope of military and commercial roles played by the Goodyear blimps,” said Tom Crouch, the Museum’s senior curator of aeronautics. It will have a place of honor, joining the control car of the first Goodyear blimp, Pilgrim, in the National Air and Space Museum’s Steven F. Udvar-Hazy Center in Chantilly, Virginia.
“The C-49 has a rich history within the Goodyear blimp fleet and with the U.S. Navy and we are very proud it has been accepted by America’s most prestigious repository for aeronautical history, The Smithsonian National Air and Space Museum.” said Nancy Jandrokovic, Goodyear’s director, global airship operations.
Since its founding in 1898, Goodyear “has been focused on providing superior performance and this one of protecting our troops on duty is especially notable and dear to us,” she added.
The C-49 was first put into service as the Goodyear blimp Enterprise on August 23, 1934. For the next eight years it flew the Goodyear brand and company guests over scores of large and small towns such as Detroit; Washington, D.C.; Chicago; Louisville, Kentucky; and Allentown, Pennsylvania.
In 1942, like some active Goodyear blimps, the C-49 was sold to the U.S. Navy and designated L-5 where it served until 1946. Goodyear made and supplied hundreds of airships to the U.S. Navy during World War II. The Navy used airships for submarine patrol during naval convoy deployments, coastal and inland patrol and trainers. When used on convoy escort duty, the Navy never recorded losing a ship.
Following the war, Goodyear repurchased C-49 and stored it as a spare in the company’s airship hangar at Wingfoot Lake in Suffield, Ohio. The car was rebuilt in 1969 and put back into service as the Columbia N4A in 1975.
From 1975 to 1986 Columbia N4A was a shining jewel for the Goodyear blimp fleet. It flew tens of thousands of Goodyear customers and thousands of hours of night sign messaging. As are all the Goodyear blimps, it was a celebrity on television, working with all three of the major networks ABC, CBS and NBC. “If only it could talk to us,” Jandrokovic said. ”This blimp car flew over major sporting events such as the 1977, 1980, 1983 and 1985 Super Bowls; the 1981 and 1984 World Series; Rose Bowl games and parades as well as the 1984 Summer Olympics in Los Angeles, California.”
The Columbia N4A C-49 car was permanently retired in 1986 and once again stored at the Goodyear blimp base in Suffield, Ohio. It makes its final journey to the Smithsonian on Tuesday.
Goodyear owns and operates three airships in the United States and frequently leases airships in other countries around the world.
Goodyear is one of the world’s largest tire companies. It employs approximately 72,000 people and manufactures its products in 54 facilities in 22 countries around the world. Its two Innovation Centers in Akron, Ohio and Colmar-Berg, Luxembourg strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear or its products, go to www.goodyear.com/corporate.
Goodyear set a quarterly sales record at $6.1-billion for the third quarter.
The Akron-based tiremaker reports the 22% hike helped to boost operating income up 98% to $463 million and company officials say they're on track to break segment operating income and sales for the year.
Here's a more detailed overview, as outlined in a press release from Goodyear:
The Goodyear Tire & Rubber Company today reported that its third quarter 2011 sales and earnings were the best in its history. Quarterly net sales exceeded $6 billion for the first time ever.
“I am very pleased with our performance,” said Richard J. Kramer, chairman and chief executive officer. “Our third quarter results are another step on the path toward our 2013 targets and especially meaningful given the challenging market conditions in much of the world,” he added.
“All four of our tire businesses set all-time quarterly sales records as our teams did an excellent job offsetting higher raw material costs with improved price/mix and selling new, innovative products in targeted market segments,” Kramer said.
“While our third quarter results are evidence of the fundamental improvements we have made to our business, we continue to see many opportunities to build on this success by driving efficient, standardized processes throughout our business.”
Goodyear’s third quarter 2011 sales were $6.1 billion, up 22 percent from a year ago and the highest ever achieved by the company in any quarter. Tire unit volumes totaled 47.7 million, unchanged from 2010.
Third quarter sales reflect strong price/mix performance, which drove revenue per tire up
18 percent over the 2010 quarter, excluding the impact of foreign currency translation. Sales were also impacted by a $221 million increase in sales in other tire-related businesses, primarily chemical sales in North America, and favorable foreign currency translation of $175 million.
The company achieved segment operating income of $463 million in the third quarter, a record for any quarter. This was up $229 million from the year-ago period. Segment operating income for the third quarter of 2011 reflected improved price/mix of $739 million, which more than offset $554 million in higher raw material costs ($506 million net of raw material cost reduction actions).
Goodyear’s third quarter 2011 net income available to common shareholders was
$161 million (60 cents per share). This is the highest quarterly net income from Goodyear’s continuing operations in its history. The company recorded a net loss of $20 million (8 cents per share) in the 2010 third quarter. All per share amounts are diluted.
The 2011 third quarter included total charges of $35 million (13 cents per share) due to rationalizations, asset write-offs and accelerated depreciation, and $4 million (1 cent per share) related to discrete tax charges; and a gain of $5 million (2 cents per share) on asset sales. All amounts are after taxes and minority interest.
Copyright © 2013 AkronNewsNow & Rubber City Radio Group |All Rights Reserved | 1795 West Market Street | Akron, OH 44313 | 330.869.9800