Goodyear has no money to pay a dividend or they would reinstate a small dividend. They also have no money to increase wages, pay benefits, fund pension obligations, etc. They do, however, have money to OVER COMPENSATE the current non-performing management ! It is sad to see this company being run into the ground. Bankruptcy lawyers will be picking the bones in the future.
The speculation is that the union will be busted with th eupcoming contract expiration. Goodyear, like Hostess, is saddled by old time union minded work rules in a modern world. Hostess is bringing back twinkies and will be produced in 4 plants vs the old 12 plants and product will be directly delivered instead of the old suppy chain that was hampered by the unionists all the way.
The time is now to either bust the union or outsource production and become a pure marketing company. Those overpaid parasites need to be flushed from the system once and for all
Considered the covert. preferreds, but don't look so attractive given current pricing.
My money is on the equity (LEAPS options), believe that GT's investments in plant upgrades will help drive profitability. The auto sector macro tide helps, also. GT isn't the most pristine company, but valuations are just too cheap.