Word: goodyears
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...according to the student newspaper, the college in January held stock in Raytheon Corporation and the Goodyear Tire and Rubber Company, firms which both received III level Sullivan ratings...
...have given Firestone poor traction for making progress. The market has not only grown smaller -- the result of today's long-lasting radial tires -- but more competitive. Prices have fallen because of rising production by foreign rivals, notably France's Michelin and Japan's Bridgestone. At the same time, Goodyear and other U.S. rubber giants are also revamping themselves and boosting their commitment to tiremaking...
Smith Barney, another blue-chip investment firm, started its own brouhaha by suing Goodyear Tire and Rubber and Sir James Goldsmith. To stop a takeover bid by Goldsmith last month, Goodyear agreed to buy back the raider's 12.6 million shares of the company for $52.50 apiece, nearly a 22% premium over their market value of $43. Such buyouts at a premium not available to other shareholders are known as greenmail...
...suit, Smith Barney claims that Goodyear Chairman Robert Mercer and Goldsmith made misleading public statements before their agreement was announced, implying that they would not reach a greenmail settlement. Smith Barney, which had paid more than $47 each for nearly 1.3 million shares of Goodyear, expecting a price spurt during the takeover struggle, took a paper loss of $17 million when the value of the stock flattened overnight. In addition to Smith Barney's action, six other lawsuits have been filed by Goodyear shareholders. They want the same price for their shares that Goldsmith...
...James Goldsmith, 53, the Anglo-French raider, abruptly ended his 2 1/2- week siege of Goodyear Tire & Rubber, the Akron manufacturer, after being grilled before the House Subcommittee on Monopolies and Commercial Law in Washington. "My question is: Who the hell are you?" said Ohio Democrat John Seiberling, whose family founded Goodyear. Goldsmith's sharp retort was that he represented the "rough, tough world of competition . . . a world in which you run a business as a business and not as an institution." But the aggressive tycoon, who owned 11.5% of Goodyear's stock and had offered $4.7 billion...