Union takes time with Goodyear's latest offer
Goodyear Tire & Rubber Co. made its fourth proposal to the United Steelworkers of America on Sunday following three days of negotiating around the clock.
Unlike the previous three proposals, which were turned down quickly, the union is still reviewing the latest offer, literally hundreds of pages long, in detail, according to Chuck Sinclair, Goodyear's senior vice president of global communications.
"We feel good about the union's review process, and are hopeful we're able to come to resolution with this offer."
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 Aug. 18, Goodyear's stock was trading at $5.81 a share, up 22 cents from the previous day.