Newscoma Has Moved
Monday, October 02, 2006
  Breaking News This is the press release I got less than an hour ago: USW Gives Notice To End Contract Extension With Goodyear AKRON, Ohio, October 2, 2006 – At 1:00 p.m. eastern today, the United Steelworkers (USW) advised Goodyear that it was giving the Company the required 72-hour notice to terminate the extension of the parties’ labor contract. The contract had expired on July 22, 2006, and both parties agreed to an extension that could be terminated with a 72-hour notice. According to Jim Allen, Goodyear’s chief negotiator, the two parties are continuing to negotiate in Cincinnati. "The 72-hour notice simply creates a new deadline, which helps bring focus to the discussions as we work toward a new agreement," he said. "While we are working hard toward successful resolution, in the event that does not occur Goodyear has contingency plans in place to continue operating our factories and serving our customers." Prior to the expiration of the 72-hour period (1:00 p.m. eastern, Thursday, October 5), two scenarios are possible: . The parties could agree to another extension of the previous contract; . The parties could reach a tentative agreement on a new contract. Following the expiration of the 72-hour period, three scenarios are possible: . The master plants could continue to operate and union employees could work without an agreement; . The Company could lock out the USW workers at the 12 master contract plants; . The Union could call a strike at the 12 master contract plants. Goodyear will not comment further until the parties reach a resolution or the 72-hour period expires. (more) Certain information contained in this press release may constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various factors, including the ability of the company and the United Steelworkers to reach agreement on the terms of a master collective bargaining agreement as well as the ratification of any such agreement by the members of the United Steelworkers, and any action that may be taken by the company or the United Steelworkers in the event that no such agreement is reached. There are a variety of additional factors, many of which are beyond the company’s control, which affect its operations, performance, business strategy and results and could cause its actual results and experience to differ materially from the expectations and objectives expressed in any forward-looking statements. These factors include, but are not limited to, actions and initiatives taken by both current and potential competitors, increases in the prices paid for raw materials and energy, the company’s ability to realize anticipated savings and operational benefits from its cost reduction initiatives, potential adverse consequences of litigation involving the company, pension plan funding obligations as well as the effects of more general factors such as changes in general market or economic conditions or in legislation, regulation or public policy. Additional factors are discussed in the company’s filings with the Securities and Exchange Commission, including the company’s annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. In addition, any forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change. As soon as I have more, I'll let you know. 
Comments:
The sad thing is that these unions are fighting to keep wages and benefits at a much higher level than other plants in the U.S. . . . who can't compete and are moving overseas.

We need to wake up . . . BADLY.
 
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