Word: michelin
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...MICHELIN: You're right that some markets like cars are fairly flat. But even if you don't sell more SUVs next year, the SUVs on the road will still need new tires. Then there's technology, which creates totally new market segments. We make a five-ton tire for mining equipment. It's as wide as this table, and each tire carries 100 tons. But the big opportunities will be in new markets, like Romania, Mexico, Colombia, Brazil and, of course, China...
...TIME: Michelin converted the world to radial tires. What's next...
...MICHELIN: Tires that can run flat. Our Pax system lets you continue to drive for 20 miles at 65 m.p.h. even when a tire is flat. We also have an airless tire. In addition, we are looking at ways that, perhaps in 10 years, the tire will be able to talk to the car, saying "I'm worn out. I need pressure. Be careful; don't steer too fast; the road is slippery...
...MICHELIN: We went through a near death experience [with heavy losses] in 1993, which proved that things needed to be changed. We took all the managers of the company--3,000 people--for two weeks and said, "Let's look at what's not going well." We assembled a team that could lead the change process--both younger managers and the most experienced managers...
...MICHELIN: I think there is a realization that the corporation can no longer be just about the shareholder but that there is social responsibility...