Goodyear's reports $75 million profit in 2Q

Wow wrote:

<quoted text>
Read this article and see if we can brainstorm on a "cost-cutting" measure:
http://givemebigmoney.blogspot.com/2007/03/go...

Ok...but for better or worse...this is the compensation required to get people to run billion dollar industries. And a question I would pose to you...as Goodyear is able to meet demand for its products with fewer employees....what would you have them do?

Have employees paid full wages and benefits to sit in a lunch room playing cards? To stay home? If there were a shortage of products out there and they could not meet demand the arguement might have some merit.

Yes, indeed. Goodyear Akron is laying people off. 17 in RDE&Q. Supposedly up to 50 campus-wide.

Wow wrote:

Good to hear they made record profits - so they shouldn't have to lay off anyone, right? RIGHT? And if they lay off people in Akron, do they forfeit the tax deal the mayor gave them to stay here?

The record profits are going straight into CEO Keegan's pockets.

Sweet Lou Dunbar wrote:

<quoted text>The record profits are going straight into CEO Keegan's pockets.

Accounting 101:

Profits are what is left AFTER wages, salaries, and other expenses are paid.

I take that back: that money will go into Keegan's $20 billion bonus next year!!

Sweet Lou Dunbar wrote:

<quoted text>The record profits are going straight into CEO Keegan's pockets.

Read the article...not record profits....record sales.

This means they are selling more and making a lower profit margain.

It keeps getting better for the big man but for the little man, it just gets worse.

Benny wrote:

It keeps getting better for the big man but for the little man, it just gets worse.

The way of the world, get used to it. As America circles the bowl on the way down the drain, it's only going to get worse.

I have to agree with you on that but I still try to remain optomistic.