AKRON-United Rubber Workers Local 2 in Akron approved a supplemental pact with Goodyear by a near unanimous margin Sept. 11. The agreement, which covers local issues not included in the master contract, was ratified 264-1 after the company withdrew a proposal to replace 145 yard maintenance and janitorial workers with outside contractors.
The 1,600 member local had threatened to strike over the issue.
Local 2 covers workers at Goodyear's racing tire facility, its research and development operations, corporate headquarters and its Stow, Ohio, mold plant.
Oliver's sales rise, but earnings fall
CLEVELAND-Oliver Rubber Co. reported a 12-percent increase in sales for the fourth quarter of fiscal 1994, ended June 30, but the tread rubber maker's earnings ``were off substantially,'' according to its Cleveland-based parent, Standard Products Co.
According to the parent company, Oliver's sales for the quarter climbed to almost $33.6 million, but higher manufacturing costs and more lower-margin products in the sales mix reduced earnings, which were not disclosed.
For the year, Standard Products' earnings jumped 46.4 percent to $33.0 million on a 14.2-percent increase in sales to $872.4 million.
No information was available on Oliver's results for the year.
Pep Boys posts record results
PHILADELPHIA-Pep Boys-Manny, Moe & Jack posted record sales and earnings for its second quarter, ended July 30.
The retailer also has announced an alternative store format for smaller markets that will not support one of its 23,000-sq.-ft., 11-bay ``Supercenters.''
The smaller stores, which will operate under the name ``Pep Boys-Parts USA,'' will carry about 22,000 stock-keeping units (SKUs)-2,000 fewer than a Pep Boys Supercenter-but will not carry tires or have service bays.
While the company's emphasis will remain on its Supercenters, Pep Boys said the Parts USA stores will enable it to grow faster, increasing market penetration, share and economies of scale.
The company's second-quarter earnings surged 23.1 percent to $23.5 million on 12.5-percent growth in sales to $370.4 million.
Six-month net earnings-lowered by a $4.3 million accounting adjustment-rose 13 percent to $36.8 million, as sales climbed 12.7 percent to $708.1 million.
Service accounts for about 14 percent of Pep Boys' total sales; merchandise makes up the rest.
The company operates 395 stores in 29 states and said it plans to add 40 Supercenters in the second half, including its first in Colorado and New Hampshire.
Earnings soar at Waste Recovery
DALLAS-Waste Recovery Inc., a producer of tire-derived fuel, reported income of $125,204 for the second quarter, ended June 30-more than 100 times the amount the company earned in the same period in 1993: $1,163.
The company's sales leaped 47 percent to $2.98 million.
For the first half, WRI's earnings soared more than 69 times to $195,997 on a 27.5 percent increase in sales to $5.34 million.
The company operates scrap tire processing plants in Portland, Ore.;Baytown, Texas; and Atlanta.