Wednesday update: Union continues to look over Goodyear's proposal
The United Steelworkers of America continues to review Goodyear Tire & Rubber Co.'s latest labor proposal, and has been asking for clarifications in some of the language used in the document, which is hundreds of pages long.
The proposal, Goodyear's fourth, was tendered on Sunday following three days of negotiating around the clock.
"We continue to wait for the union's response," says Chuck Sinclair, Goodyear's senior vice president of global communications.
There is no deadline on a response, he adds.
Negotiations began March 13. Contracts expired at 11 Goodyear plants in April; contracts at the tiremaker's three former Kelly-Springfield tire factories expired on July 6.
As of the end of closing yesterday, Aug. 19, Goodyear's stock was trading at $6.25 a share, up 44 cents from the previous day. The stock price is up 86 cents since last Thursday, when Goodyear set a deadline for a tentative agreement to be reached.