November 10, 2006 |
Goodyear Tire & Rubber Co., dealing with a 4-week-old strike, reported a loss of $48 million for the third quarter Thursday because of restructuring charges and higher raw material costs. Its sales rose to a company record for any quarter, however, and its shares climbed more than 15% in trading. The loss for the world's third-largest tire maker amounted to 27 cents a share for the July-September period, including $126 million, or 71 cents, in after-tax restructuring charges.
June 2, 1991 |
Malaysia, anxious to retain its position as the world's top producer of rubber, is revolutionizing the industry by scrapping antiquated techniques relying on excessive human labor in favor of innovative machines. Faced with low prices and a crippling shortage of workers as the young rush to the booming manufacturing sector, Prime Minister Mahathir Mohamad has branded traditional rubber-tapping methods as "terribly inefficient" and called for modernization.
November 14, 1987 |
Mobay Corp., a subsidiary of Bayer USA Inc., said it has agreed to acquire Denka Chemical Corp. of Houston for an undisclosed sum. Denka, which has sales of nearly $100 million and employs about 400 workers, has plants in Houston; Duluth, Minn.; Carteret, N.J., and Little Ferry, N.J.
January 25, 1997 |
An Irvine man and his business partner were arrested Friday on suspicion of conspiring to ship chemicals that could be used to make nerve gas to Iran, in violation of the U.S. trade embargo. Prosecutors said Abdol Hamid Rashidian, an Iranian citizen living in Irvine, and Henry Joseph Trojack of Las Vegas conspired to ship impregnated alumina.
May 5, 1997 |
Goodyear Tire & Rubber Co. and the United Steelworkers union have reached a tentative agreement to end a two-week strike, but workers will remain on the picket lines until the deal is ratified. Union spokesman Curt Brown said Sunday that members will vote Thursday on the six-year agreement reached Saturday night. It would be the first long-term contract in the industry's history.
June 21, 1990 |
The Senate Finance Committee today completed action on a bill limiting imports of apparel and footwear but made no recommendation on whether it should be passed. The bill is supported by a majority of members of the House and Senate, but there is some question whether the margins are large enough to override a presidential veto. The Bush Administration opposes the bill, and President Bush's advisers say they will recommend a veto if it passes.