Then things got tight. But did the union take a pay cut? No, they demanded more and more when things got a bit tight for the company.
As payback the unions should be busted once and for all. Capitol made this country great, not unions. A union never built one plant, never created any manufacturing jobs and rather just focused on becoming a parasite on the productive captalists
If I remember correctly, GT took about a 1 billion dollar loss on a pipeline to nowhere back then also. Is that something the unions forced management into? I don't think so..................................
I remember when Goodyear made enough money to pay dividends. And then Sam started to borrow. Borrow to protect the stock price. Borrow to buy Dunlop. Borrow to inflate the inventories and declare earnings on the tires he made but didn't sell. All of a sudden all the "dividends" aren't paid to the stockholders, but to the banks as interest. Those are the facts. Sorry it doesn't fit your beliefs as to what caused the problems. Sam's damage to GT will be remembered long after this company is gone.