Goodyear To Shut Down/Closing Union City Tennessee Plant
Bad News at Goodyear Union City TN.
Plant to Close/Shutdown !
2/10/11
by : Don Jones = Underdog
I have learned today that The Giant Goodyear Tire plant in Union City Tennessee will shut down some time this year 2011 ! This writer has tried unsuccessfully to bring attention to this situation for over a year now. Now, it is too late. Lives will be altered/shattered ! Things are about to change in Northwest Tennessee and Western Kentucky. I will write more, when I learn more. Thanks to those who tried to help. Especially those employee's`s on the floor who actually turned around that plant to a positive work place.
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AKRON, Ohio --
Goodyear Tire & Rubber Co.'s fourth-quarter sales jumped 14 percent for the fourth quarter, but the company lost $177 million as it disclosed plans to close a plant in Tennessee. The Akron, Ohio-based company, the biggest U.S. tire maker, said Thursday that its loss amounted to 73 cents per share, while sales rose to $5.07 billion for the period ending Dec. 31. In the year-earlier quarter, Goodyear had net income of $107 million, or 44 cents per share, on sales of $4.44 billion.
The company took a $160 million charge tied to its plans to close the 1,900-employee plant in Union City, Tenn., which was left unprotected in the latest labor contract. Excluding charges, the company would have earned 7 cents a share. Analysts expected a loss of 5 cents per share on revenue of $4.8 billion.
Goodyear Tire & Rubber Co.'s fourth-quarter sales jumped 14 percent for the fourth quarter, but the company lost $177 million as it disclosed plans to close a plant in Tennessee. The Akron, Ohio-based company, the biggest U.S. tire maker, said Thursday that its loss amounted to 73 cents per share, while sales rose to $5.07 billion for the period ending Dec. 31. In the year-earlier quarter, Goodyear had net income of $107 million, or 44 cents per share, on sales of $4.44 billion.
The company took a $160 million charge tied to its plans to close the 1,900-employee plant in Union City, Tenn., which was left unprotected in the latest labor contract. Excluding charges, the company would have earned 7 cents a share. Analysts expected a loss of 5 cents per share on revenue of $4.8 billion.
posted by Stick a Fork in me, I`m Done ! @ Thursday, February 10, 2011
7 Comments:
there goes another major manufactoring job to over seas trading. WE THE AMERICAN PEOPLE NEED TO TAKE A STAND, NOT LETTING THESE COMPANIES MOVE OVER SEAS AND THEN SHIP THESE ITEAMS BACK TO THE US. WHAT THE MAKE THERE SHOULD STAY THERE. I WILL MAKE A STAND........
How's all that union talk working for them now. They were sold out in 2009. USW cares nothing for rubberworkers and neither does Obama. I'm sure you won't let this get posted!
Dear Anonymous ; 2/10/11
Your comment is well placed. I have tried for over a year to bring attention to this problem. Most people thought I was crazy...wonder what they think now ? I truly hate this plant closure ! The live`s it will shatter ! I have always been a United Rubber Worker !
I live in Akron, Ohio and have been to Union City various times and a former military friend operates the D.E. James grocery chain. In the 70's we lived the eroison of tire jobs when Akron tire production left for unknown, at that time, towns like Union City, Lawton and other rural towns. Life will change as you know it for a period of time as it did for so many in Ohio. Best to all impacted by this decision.
Well Union City took those jobs from the Jackson, Michigan Goodyear Plant back in 1982/83 so pardon me if I'm not too upset about it it screwed the economy here up for a long time.
Dear Anonymous ; 2/16/11
Yes, Union City received some of Jackson MI ticket, but, remember it blowed up ! When U. C. shuts down, these tires will be built in China & Chili ! Are you getting upset now ?
Underdog = Don Jones
one reason ;corporate greed .most
of these corporations and their c.o.'s only see bigger profits and lavish living styles for them selves and damn everyone else.
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