Goodyear falls from Dow list AKRON—The Wall Street Journal dropped the world's largest tire manufacturer—Goodyear—from its Dow Jones Industrial Average (DJIA) of 30 stocks on Nov. 1.
``While we are disappointed in the decision of the Dow Jones editors, this will not have any major change on Goodyear or the fundamentals of our business,'' said Robert W. Tieken, Goodyear executive vice president and CFO.
Goodyear became part of the widely reported index in 1930, he said, and only five of the 30 companies on the industrial average at that time will remain after this change.
Dow Jones also dropped Sears, Roebuck and Co., Chevron Corp. and Union Carbide Corp. to make room for Microsoft Corp., Intel Corp., SBC Communications Inc. and Home Depot Inc.
Mr. Tieken pointed out Goodyear's involvement as a supplier to the automotive, industrial and construction industries and said Goodyear is a ``bellwether for a massive segment of the economy.''
BFGoodrich signs race partnership
LAS VEGAS—BFGoodrich Tires has formed a partnership with the American Speed Association (ASA) and will become the official tire of ASA and a major sponsor of the series in 2000.
The partnership is a multi-year agreement that includes a comprehensive marketing and sales promotion program designed to position the BFGoodrich brand solidly in the stock-car racing arena.
The move marks the brand's first entry into oval-track racing. For ASA, it is the first use of the radial tire in competition.
A new BFGoodrich tire has been developed specifically for the ASA series. The racing version of this tire will be the springboard for a family of passenger tires to be introduced some time in 2001.
"We have found racing to be a great place to develop and promote a new consumer product line," said Rick Shafer, marketing manager for BFGoodrich ultra high-performance tires.
NHTSA appoints new administrator
WASHINGTON—Rosalyn G. Millman, who was appointed deputy administrator of the National Highway Traffic Safety Administration in September, has been named the agency's acting administrator.
Before joining NHTSA, Ms. Millman served for six years as a transportation economist with the House Committee on Transportation and Infrastructure.
She replaces Ricardo Martinez, who has left NHTSA to become an executive with an Internet-based health care company based in Atlanta.
Big O changing its Web site
ENGLEWOOD, Colo.—Big O Tires Inc. is upgrading its corporate Web site and hopes to have the first phase completed by the end of the year.
The site, www.bigotires.com, is being developed by Bellevue, Wash.-based Aris Corp.
The project's first phase will consist of product information and store locations. The site currently is focused on franchise recruitment.
At its completion, which is expected during the first quarter of 2000, the site will feature the Big O story, a database of stores that will include hours, maps, directions and employment opportunities. Specific promotions/coupons, events, franchise recruitment sites and customer feedback also will be featured on the site.
Cooper forms new structure
FINDLAY, Ohio—Cooper Tire & Rubber Co. has created a new organizational structure from its acquisition of Standard Products Co.
The acquisition closed Oct. 27. Cooper paid $36.50 for each share of Standard Products' common stock.
The company's operations will be divided into two groups: Cooper-Standard Automotive, based in Dearborn, Mich., and Cooper Tire, based in Findlay. Both groups will be responsible to Thomas Dattilo, Cooper president and COO.
Within the Cooper Tire group will be three divisions:
North American Tire, led by current Cooper Tire President John Fahl, will include all North American tire operations and the international division;
Oliver Rubber, headed by Oliver President Larry Enders, will be based in Athens, Ga; and
Cooper-Avon Tyres, led by Rod Pottow, vice president of European tire operations, will continue to be based in Melksham, England.
Cooper-Standard Automotive also will contain three divisions: Global Sealing, Vibration Control and Plastics.