News
News Home
Quick Bites
Exploradio
News Archive
News Channel
Special Features
NPR
nowplaying
On AirNewsClassical
Loading...
  
School Closings
WKSU Support
Funding for WKSU is made possible in part through support from the following businesses and organizations.

NOCHE

Wayside Furniture

Akron Children's Hospital


For more information on how your company or organization can support WKSU, download the WKSU Media Kit.

(WKSU Media Kit PDF icon )


Donate Your Vehicle to WKSU

Programs Schedule Make A Pledge Member BenefitsFAQ/HelpContact Us
Economy and Business


Goodyear reports record quarterly earnings in North America
Economist: Second quarter earnings are part of a strategy that's paying off as Goodyear considers where it should build a new tire plant
by WKSU's LYNDSEY SCHLEY


Reporter
Lyndsey Schley
 
Akron has been hoping to attract a new Goodyear plant to go along with the company's global headquarters.
Courtesy of Goodyear
Download (WKSU Only)
In The Region:

Akron-based Goodyear Tire and Rubber Company saw record quarter earnings in North America but stocks still dropped as investors were hoping for even higher numbers.

However, University of Akron economics professor Dennis Byrne says the company continues to do very well. He says sales were down for the company from last year, but that is part of a larger strategy.

LISTEN: BYRNE ON SALES

Other options:
Windows Media / MP3 Download (0:22)


“Tire companies at one time tried to sell as many tires as they could and there was a competition to be the biggest tire producer in terms of number of units," Byrne says. "Goodyear has begun to break away from that and say they’d like to be the most profitable. So, they are trying to move away from making every sale to making sales that make sense in terms of their profitability.”

Goodyear’s second quarter earnings were released today.

In May, Goodyear announced it will open a new plant in North America, which Akron is competing for. Byrne says the tire companies moved away from Akron because of older technology and an unfavorable labor environment, but he says the labor force now has a reputation for being well-educated and motivated.

However, Byrne says a big remaining issue would be finding the space for the plant.

LISTEN: BYRNE ON PLANT

Other options:
Windows Media / MP3 Download
(0:14)

“Tire plants usually are located in very rural, semi-urban areas where they have huge amounts of land and tracts of land where they can build the plants," Byrne says. "I don’t know what in this particular area meets that definition.”

Byrne says while that may detract from the city’s appeal, another strength is Akron's proximity to natural resources.

Goodyear says it will announce the new plant’s location during the first quarter of 2015.

Add Your Comment
Name:

Location:

E-mail: (not published, only used to contact you about your comment)


Comments:




 
Page Options

Print this page

E-Mail this page / Send mp3

Share on Facebook




Stories with Recent Comments

Ohio becomes first in the nation to dump PARCC testing
Best test to use for elementary schools is the old pre common core Iowa test of basic skills. This test measures apples to apples and tests the skills appropri...

Ohio is moving forward with new standardized tests
Mr Chow, Nice piece on testing. Should not Ohio go to an open bid process for the new assessment contract? Ohio has stayed with a "connected" DC non-profit fo...

The Surpreme Court gay-marriage decision plays out in Ohio Amish country
Keep in mind that the majority of the people residing in Holmes County are Amish, a church people who do not vote because they do not believe in governmental ru...

Akron council committee recommends Forney for its opening
Which committee member voted for Wilhite?

Nearly a dozen Cuyahoga gay couples get licenses to marry after the Supreme Court ruling
Presiding Judge Anthony J. Russo a graduate of Chanel High School and supposed member of St. Francis Parish in Gates Mills has just excommunicated himself. As ...

Canton Youth Symphony is named orchestra of the year
This is what makes CSO the hippest small town orchestra in America!

What can be expected if Ohio's tobacco taxes increase?
let's face it! The increase has little to do with smoking cessation

Rare Cleveland Indians photo from 1911 hits the auction block
Paddy Livingston, who cut his teeth on a Louisville Slugger in Kent, Ohio was one of the immortals that played in that game. He was the catcher. Ty Cobb actuall...

Nexus denies Green's request to relocate its planned gas pipeline
These people have so much power. Too much. They could care less about the people they leave when it is done. Spectra does not, and admits, they do not do the...

Copyright © 2015 WKSU Public Radio, All Rights Reserved.

 
In Partnership With:

NPR PRI Kent State University

listen in windows media format listen in realplayer format Car Talk Hosts: Tom & Ray Magliozzi Fresh Air Host: Terry Gross A Service of Kent State University 89.7 WKSU | NPR.Classical.Other smart stuff. NPR Senior Correspondent: Noah Adams Living on Earth Host: Steve Curwood 89.7 WKSU | NPR.Classical.Other smart stuff. A Service of Kent State University