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November 24, 2009

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Rubber giant reveals more accounting problems

Thursday, Dec. 11, 2003 | 9:11 a.m.

AKRON, Ohio -- Goodyear Tire & Rubber Co. has identified possible improper accounting issues in Europe and will delay filing a financial report with the Securities and Exchange Commission while it probes the issues, the company said Wednesday.

There has been no determination whether the accounting for its business in Europe will have a material impact on its financial report, Goodyear said in a statement.

In October, Goodyear said accounting system errors forced it to lower net income since 1998 by as much as $100 million. The nation's largest tire maker said then that an accounting system implemented in 1999 caused the mistakes.

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