Las Vegas Sun

December 4, 2009

Currently: 49° | Complete forecast | Log in

Tiremaker restates results, reduces profit

Monday, April 12, 2004 | 9:04 a.m.

AKRON, Ohio -- Goodyear Tire & Rubber Co. today said improper accounting, workers' compensation claims and product-liability costs will force the company to reduce earnings by a total of $65 million between 1997 and 2003.

Goodyear, the largest North American tiremaker, said an internal accounting investigation in Europe and other unspecified regions found unreported costs of about $10 million for the seven years. The workers' claims, product-liability costs and other items cut profit about $55 million, the company said.

The restatement will raise to $150 million the amount by which Goodyear has reduced past earnings.

archive

  • Most Read
  • Discussed
  • Most E-mailed

Complete Listing

Calendar »

  • 4 Fri
  • 5 Sat
  • 6 Sun
  • 7 Mon
  • 8 Tue

All events on Friday »