Goodyear Tire & Rubber Co.: The Akron-based...
From Times Staff and Wire Reports
Goodyear Tire & Rubber Co.: The Akron-based company reported fourth-quarter income of $11.6 million, a drop of 21.1% from a year earlier. The company cited a weakened economy and reduced auto production as factors. Revenue was $2.8 billion, a 2.7% increase. For the year, the company reported a $38.3-million net loss, contrasted with net income of $206.8 million in 1989; revenue totaled $11.3 billion, up 3.7%. The company said the loss for the year reflected $73 million in unusual charges, such as restructuring and plant consolidation. The companymakes rubber products, plastics and chemicals.
