Why do you worry about the dividend? When GT cuts the dividend, the stock will go up. That will preserve cash for the company to pay down the debts or the pension fund.
It will be nice with 6.8% interest at this price. If the company can turn around within a year, this stock will go higher. The company will take any means to survive. Cutting workforces and costs and shutting down plants are ugly things but the company might do that to turn the company. Although GT are losing market shares, its operating income in year 2002 was much better than year 2001.
It is actually improving but not fast enough. I am in with tons of shares ....averaging about 7.40. I will try to hold it for a year and see.
Getting to $10.00 within a year is possible if the company can prove the turnaround in 6-9 months.
Don't worry about dividends at this point. Trying to turn around the business is most important thing right now.