Goodyear Closes in on Union Health Care Program

Goodyear and the United Steelworkers took a major step toward resolving health care costs for union members and retirees by creating an independent health care trust managed by the union and initially funded by the tiremaker.

Published: December 19, 2007

The health care change was negotiated as part of Goodyear’s latest deal with the union, which was reached last December.

A federal court gave Goodyear preliminary approval for a settlement with the USW, which the two parties reached in October. Under the plan, Goodyear will put $1 billion into a special trust fund – a Voluntary Employees Beneficiary Association – that the USW will manage for members and retirees. Active USW will then fund the program though contributions from COLA increases and profit sharing.

The VEBA program is expected to save Goodyear some $110 million per year.

Barring any unexpected delays, the program should take effect by mid-2008. (Tire Review/Akron)

The commercial tire market is cautiously recovering from 2023 challenges

To better understand commercial tire expectations for the remainder of the year, Tire Review recently sat down with Pierluigi Cumo, VP of B2B products at Michelin North America.

By David Sickels

David Sickels is the Editor of Tire Review. He has a history of working in the media, marketing and automotive industries in both print and online.

Published: May 1, 2024

Despite a tough commercial tire market in 2023 due to overstock and and the effects of a rubber-banding supply chain, some tire manufacturers are expressing a cautious optimism for stabilization and gradual recovery through the rest of 2024 and into 2025. North American fleets are focusing their efforts on operational efficiency and profitability amidst lower shipping rates.