Latest news with #GoodyearTire&RubberCompany
Yahoo
a day ago
- Business
- Yahoo
Goodyear Blimp turns 100 with unique triple-blimp celebration
The Brief June 3 marks 100 years since the first Goodyear Blimp flight. Since then, the blimps have become icons at games, races, airshows, and other big events. All 3 current blimps are back home for a three-day tour of Akron, Ohio to celebrate the milestone. AKRON, Ohio - When you hear the word "blimp," just one thing likely comes to mind: The Goodyear Blimp. That staple of bowl games and big races officially turns 100 years old on Tuesday. It was back on June 3, 1925 when Goodyear's first blimp, Pilgrim, floated into the sky not far from the company's headquarters in Akron, Ohio. Since then, there have been 31 Goodyear Blimps. Today's blimps are, in fact, not technically blimps, but rather semi-rigid airships, but they still use helium to stay afloat and have the same look, feel, and unique sound as their predecessors, along with the same purpose. RELATED: Newest Goodyear 'blimps' carry on legacy As anyone who grew up in Akron – or near another blimp base – can tell you, it's a special day when you see the blimp. This week, as part of the anniversary celebration, fans have a unique chance to see three. The backstory As far back as 1910, Goodyear Tire & Rubber Company sought a use for its products in the nascent aviation industry. Specifically, the company saw a market for rubber-infused coatings for balloons and lighter-than-air craft – like the ones we came to know as blimps. Timeline The first non-rigid airship designed to be flown using helium was the Goodyear Blimp that would be christened Pilgrim. It first flew in 1925 at the company's Wingfoot Lake facility in Suffield, Ohio and eventually logged nearly 95,000 miles as the company's first public relations airship. 1928: The second Goodyear Blimp, Puritan, becomes the country's first permanently licensed airship. 1930: The Goodyear Blimp Defender becomes the first airship in the world to carry a lighted sign. 1941: The attack on Pearl Harbor accelerates Naval airship production. From 1941-1944, Goodyear delivers 154 blimps to the U.S. Navy, most of which were built at the Wingfoot Lake facility. 1946: Goodyear purchases seven blimps back from the Navy, with a five-ship fleet returning to service as Ranger, Volunteer, Enterprise, Mayflower and Puritan. 1955: Goodyear pioneers the world's first live aerial video for a national broadcast, capturing unprecedented views of the Rose Parade and Rose Bowl Game. 1967: Columbia broadcasts Super Bowl I for CBS. 1969: The GZ-20 model America debuts. The GZ-20 would serve as the basis for the Goodyear Blimp for almost 50 years, featuring a bigger lighted sign and other improvements. 2014: Goodyear and ZLT Zeppelin Luftschifftechnik engineers complete the build of Wingfoot One, the first semirigid NT model Goodyear Blimp which uses a light internal frame. Three more NTs follow, completing the current fleet of four airships. Dig deeper Goodyear's first public relations airship was named Pilgrim. Then, starting with Puritan in 1928, all airships for the next seven decades were named after America's Cup yacht race winners. That tradition ended in 2005; the current fleet of airships is named Wingfoot One, Wingfoot Two and Wingfoot Three. RELATED: Goodyear Blimp gets vintage makeover in honor of its 100th anniversary "Wingfoot," of course, is a reference to the company's corporate logo, the winged shoes of the Roman god Mercury. In 1916, the lake where the blimp hangar would be built was given the name Wingfoot Lake for the same reason. For decades, it was the site of a park for use by Goodyear employees and their families, but now is a state park open to all. Local perspective While Goodyear has been celebrating the blimps' big milestone all year, the main event will be this week in Northeastern Ohio, where residents still step outside to look up when they hear the characteristic drone of the blimps' engines droning overhead. All three North American blimps – the fourth, based in Europe, will not participate – will fly home to Akron for a series of triple-blimp flyovers at the Wingfoot Lake hangar where they were built, along with other stops around the area. Blimp fans can see the craft around Akron from Tuesday through Thursday, weather-permitting. The Source Information for this story came from Goodyear and previous FOX Local reporting, including flights aboard the blimps.
Yahoo
6 days ago
- Business
- Yahoo
Goodyear Announces Pricing Of $500 Million Of Senior Notes
AKRON, Ohio, May 29, 2025 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ: GT) ("Goodyear" or the "company") today announced that it has priced its offering of $500 million aggregate principal amount of 5-year senior notes (the "notes"). The notes will be senior unsecured obligations of the company. The notes will be offered to the public at a price of 100% of their principal amount and will bear interest at a rate of 6.625% per annum. Goodyear expects the offering to close on June 3, 2025, subject to customary closing conditions. Goodyear intends to use the net proceeds from this offering, together with its current cash and cash equivalents, to redeem in full the company's remaining 5.000% Senior Notes due 2026 (the "2026 Notes"). Currently, there is $900 million in aggregate principal amount of the 2026 Notes outstanding. On May 29, 2025, the company issued a notice of redemption to the holders of the 2026 Notes for $400 million of the 2026 Notes, which we intend to fund using a portion of the cash proceeds from the Dunlop brand disposition. The redemption date for the redemption of the $400 million of 2026 Notes is June 30, 2025. This press release does not constitute a notice of redemption under the optional redemption provisions of the indenture governing the 2026 Notes. Deutsche Bank Securities Inc.; BofA Securities, Inc.; BNP Paribas Securities Corp.; Citigroup Global Markets Inc.; Credit Agricole Securities (USA) Inc.; Fifth Third Securities, Inc.; Goldman Sachs & Co. LLC; J.P. Morgan Securities LLC; MUFG Securities Americas Inc.; PNC Capital Markets LLC; CIBC World Markets Corp.; and RBC Capital Markets, LLC are acting as the joint book-running managers for the offering. Capital One Securities, Inc.; Huntington Securities, Inc.; Regions Securities LLC; Santander US Capital Markets LLC; and Wedbush Securities Inc. are acting as senior co-managers for the offering. Citizens JMP Securities, LLC; HSBC Securities (USA) Inc.; KeyBanc Capital Markets Inc.; Standard Chartered Bank; U.S. Bancorp Investments, Inc.; and WauBank Securities LLC are acting as co-managers for the offering. The offering was made under an effective shelf registration statement that was filed with the U.S. Securities and Exchange Commission and became automatically effective on May 29, 2025 and as may be further amended from time to time. The offering of the notes may be made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained from: Deutsche Bank Securities Goodyear Tire & Rubber CompanyAttn: Prospectus GroupInvestor Relations Department1 Columbus Circle200 Innovation WayNew York, New York 10019Akron, OH 44316Email: 330-796-3751This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Goodyear is one of the world's largest tire companies. It employs about 68,000 people and manufactures its products in 53 facilities in 20 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. Certain information contained in this press release constitutes forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. There are a variety of factors, many of which are beyond our control, that affect our operations, performance, business strategy and results and could cause our actual results and experience to differ materially from the assumptions, expectations and objectives expressed in any forward-looking statements. These factors include, but are not limited to: our ability to implement successfully the Goodyear Forward plan and our other strategic initiatives, including the sale of our chemical business; risks relating to the ability to consummate the sale of our chemical business on a timely basis or at all, including failure to obtain the required regulatory approvals or to satisfy the other conditions to closing the transaction; actions and initiatives taken by both current and potential competitors; increases in the prices paid for raw materials and energy; inflationary cost pressures; delays or disruptions in our supply chain or the provision of services to us; a prolonged economic downturn or period of economic uncertainty; deteriorating economic conditions or an inability to access capital markets; a labor strike, work stoppage, labor shortage or other similar event; financial difficulties, work stoppages, labor shortages or supply disruptions at our suppliers or customers; the adequacy of our capital expenditures; changes in tariffs, trade agreements or trade restrictions; foreign currency translation and transaction risks; our failure to comply with a material covenant in our debt obligations; potential adverse consequences of litigation involving the company; as well as the effects of more general factors such as changes in general market, economic or political conditions or in legislation, regulation or public policy. Additional factors are discussed in our filings with the Securities and Exchange Commission, including our annual report 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. View original content to download multimedia: SOURCE The Goodyear Tire & Rubber Company Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
New York Post
19-05-2025
- Business
- New York Post
Goodyear executive Chris Delaney's mistress arrested for allegedly stabbing his wife to death
A top executive at Goodyear Tire & Rubber Company who earned nearly $5 million in annual compensation is no longer with the firm after Belgian authorities arrested his mistress for allegedly stabbing his wife to death. Chris Delaney, who held the title of president of the Europe, Middle East and Africa (EMEA) region at Akron,Ohio-based Goodyear since he was promoted the post in 2017, is no longer employed by the tiremaker, the company told the Wall Street Journal over the weekend. Delaney's alleged lover, a married Belgian woman named Greet Vandeput, was his executive assistant at Goodyear. She, too, is no longer with the company, according to the Journal. Advertisement 6 Chris Delaney and his wife, Carmel Delaney, are pictured in 2015. Carmel Delaney/Facebook 6 Greet Vandeput, Chris Delaney's executive assistant, is the suspect in Carmel's murder. Police say Vandeput and Chris Delaney were having an affair. Greet Vandeput/Linkedin Chris Delaney returned to his apartment in an upscale part of Brussels after work on March 17 and found his wife, Carmel Delaney, dead on the floor after having suffered at least four stab wounds, the Journal reported. Advertisement Since Chris Delaney does not speak French, he telephoned Vandeput, who then alerted police, according to the Journal. Initially, authorities and local media believed Carmel's death might have resulted from a botched burglary. 6 Carmel Delaney, 61, was stabbed to death on March 17. Deckerfh Surveillance cameras had captured someone in a mask entering the building shortly before Carmel arrived home that evening, according to police. Advertisement Although there were no indications of forced entry, investigators noted that three high-end watches had vanished from the apartment. Two days after Carmel Delaney was buried in an upstate New York funeral on April 2, Belgian police arrested Vandeput. It was during the course of the investigation that authorities discovered Chris Delaney and Vandeput, who is also married, were having an affair, according to the Journal. Vandeput was charged with murder and 'port d'arme par destination,' a legal term in Belgium referring to the use of an improvised weapon. Advertisement An autopsy revealed that Carmel had been stabbed four times in the chest and torso. A breakthrough in the case came after a friend of Vandeput's came forward with concerns following a conversation between them. 6 Chris Delaney earned around $5 million annually as an executive at Goodyear. He is seen with wife Carmel in 2016. Acting on the tip, police searched both Vandeput's home and a nearby horse stable where she kept two horses. There, behind a corrugated metal shed in a paddock, they found the missing watches, according to the Journal. Chris Delaney has been questioned by police as a witness but has not been charged. A spokesperson for Goodyear told the Journal the company would cooperate with authorities if asked. Neither Delaney nor Vandeput remains employed by the tiremaker and Delaney received no severance. 6 Carmel Delaney was found dead by her husband after he returned from work to the couple's Brussels apartment. Shutterstock 'We decline to comment further,' the company said. Advertisement Carmel Delaney, a Queens, NY, native, built a successful marketing career having worked in Europe and the Middle East for multinational giant Procter & Gamble. Vandeput had worked at Goodyear for more than a decade, following earlier roles at AstraZeneca and Siemens. She lived just outside Brussels in a modest brick home with her husband, two dogs, and a chicken coop. Like Carmel, she had a passion for horses and was reportedly recovering from breast cancer surgery at the time of her arrest. Chris and Carmel had relocated to Brussels in 2017, their final overseas stop after a whirlwind life abroad. Chris oversaw Goodyear's operations across Europe, the Middle East, and Africa. Advertisement Carmel, meanwhile, ran a consultancy helping international students apply to US schools. Friends described the couple as close, charismatic, and generous. They met while working at Procter & Gamble and moved between countries together — from Poland to Saudi Arabia to China. 'What I know is that they loved each other dearly and he did not want anything to happen to Carmel,' James Lafferty, a longtime friend and former colleague, told the Journal. 6 Chris Delaney held the title of president of the Europe, Middle East and Africa (EMEA) region at Akron,Ohio-based Goodyear. Getty Images Advertisement Photos on Carmel's online memorial show a full life: skiing trips, boat dinners, and afternoons with grandchildren. In one image, the couple smiles aboard a train — Chris in a blue V-neck sweater, Carmel wearing a matching scarf. The caption reads, 'Carmel & Chris the dream team xx.' Chris has since returned to the United States, and Carmel's friends in Brussels are planning a memorial for June. Advertisement On her online tribute page, one mourner shared an Irish epitaph: 'Death leaves a heartache no one can heal, love leaves a memory no one can steal.' Carmel Delaney was 61 at the time of her death. She is survived by her father, Jim Gallagher; her husband; and their four children.
Associated Press
15-05-2025
- Automotive
- Associated Press
Goodyear Names Boucharlat to Lead Global Commercial Business
AKRON, Ohio, May 15, 2025 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ: GT) today announced that Grégory Boucharlat has been named senior vice president, Global Commercial. In this new role, Grégory will join the company's senior leadership team, with responsibility for the global strategic coordination of the company's Commercial tire business. Boucharlat will continue to lead Goodyear's Tires-as-a-Service (TaaS) organization as part of the company's Commercial operations. He will report directly to Mark Stewart, Goodyear Chief Executive Officer and President. Since joining Goodyear more than 30 years ago, Boucharlat has been a key contributor to Goodyear's EMEA Commercial tire business, beginning in truck tire sales and holding various leadership roles of increasing responsibility during his tenure, including vice president, Commercial EU. Grégory expanded his scope by working globally, gaining significant knowledge of Goodyear's Commercial business beyond Europe in his most recent role as vice president, TaaS. 'Grégory brings to this new role proven abilities to drive innovation in our business and expand his leadership responsibility. He is well-positioned to have a fast start and ensure a seamless transition for our Commercial business. I have enormous confidence in his ability to lead our Commercial business on a global scale as our next step in creating a unified and aligned global company,' said Stewart. Boucharlat's appointment is effective immediately. He will be based in Brussels. About The Goodyear Tire & Rubber Company Goodyear is one of the world's largest tire companies. It employs about 68,000 people and manufactures its products in 53 facilities in 20 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to CONTACT: DOUG GRASSIAN 330.796.3855 [email protected] View original content to download multimedia: SOURCE The Goodyear Tire & Rubber Company
Yahoo
13-05-2025
- Business
- Yahoo
Goodyear's Shares Barely Move Following Q1 Earnings Beat
Goodyear Tire GT shares have hardly moved since the company reported first-quarter 2025 results on May 7. It incurred adjusted loss per share of 4 cents in the quarter, narrower than the Zacks Consensus Estimate of a loss of 6 cents. The company reported earnings of 10 cents per share in the year-ago company generated net revenues of $4.25 billion, which declined 6.3% on a year-over-year basis due to lower volume and lagged the Zacks Consensus Estimate of $4.36 the reported quarter, tire volume was 38.5 million units, down 4.8% from the year-ago period's levels. The Goodyear Tire & Rubber Company price-consensus-eps-surprise-chart | The Goodyear Tire & Rubber Company Quote In the reported quarter, the Americas segment generated revenues of $2.50 billion, which marginally surpassed our estimate of $2.49 billion but declined 3.3% year over year due to lower replacement volume and an unfavorable impact forex rate. The segment registered an operating income of $155 million, which fell 13.4% from the year-ago period's figures. The operating income was hit by higher raw material costs. The figure also missed our expectation of $268.7 in the Europe, Middle East and Africa segment were $1.28 billion, down 5.2% from the year-ago period's levels due to decreased tire volume and an unfavorable impact forex rate. The figure also missed our estimate of $1.35 billion. The operating loss for the segment was $5 million against the operating income of $8 million reported in the year-ago quarter due to higher raw material costs. Revenues in the Asia Pacific segment fell 21.3% year over year to $474 million due to lower replacement volume and the sale of the OTR tire business. The metric also missed our estimate of $581 million. The segment's operating profit was $45 million, down 25% from the year-ago quarter's figure, due to the divestiture of the OTR tire business. The figure also missed our estimate of $80.4 million. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.) Selling, general & administrative expenses fell to $650 million from $696 million in the year-ago had cash and cash equivalents of $902 million as of March 31, 2025, upfrom $810 million as of Dec. 31, debt and finance leases amounted to $7.3 billion as of March 31, 2025, up from $6.4 billion as of Dec. 31, expenditure in the first quarter was $259 million, down from $318 million reported in 2024. For 2025, Goodyear expects capital expenditures to be $950 million. It expects interest expenses to be between $450 million and $475 million, and depreciation and amortization to be approximately $925 million. GT carries a Zacks Rank #3 (Hold) at better-ranked stocks in the auto space are Ferrari N.V. RACE and Standard Motor Products, Inc. SMP. RACE sports a Zacks Rank #1 (Strong Buy), while SMP carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks Zacks Consensus Estimate for RACE's 2025 sales and earnings implies year-over-year growth of 12.37% and 4.8%, respectively. EPS estimates for 2025 and 2026 have improved 30 cents and 36 cents, respectively, in the past seven Zacks Consensus Estimate for SMP's 2025 sales and earnings implies year-over-year growth of 17.1% and 12.62%, respectively. EPS estimates for 2025 and 2026 have improved 6 cents and 2 cents, respectively, in the past 30 days. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Goodyear Tire & Rubber Company (GT) : Free Stock Analysis Report Standard Motor Products, Inc. (SMP) : Free Stock Analysis Report Ferrari N.V. (RACE) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
