Goodyear, union agree to extend contract

Goodyear Tire & Rubber Co. and the United Steelworkers (USW) have agreed to extend their current labor contract until Aug. 15. The contract was set to expire July 18.

"We remain confident that we will reach an agreement that is acceptable to both sides," says Jim Allen, Goodyear's chief negotiator.

Talks between Goodyear and the USW will continue in Cincinnati, Ohio.