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Goodyear plant closure tied to Goodyear restructuring drive
The Etobicoke Goodyear plant faces closure after a bid battle led by European financier Sir James Goldsmith and a restructuring plan. Goodyear will cut about 3700 jobs, shed assets including oil and aerospace units, and repurchase shares to appease raiders, with costs reaching billions and a land redevelopment outcome looming. The piece ties insider trading and corporate raiding to the broader market surge and erosion of traditional profits.
MENTIONED IN THIS ARTICLE
Etobicoke
Ontario
Goodyear
New York
Ivan Boesky
Boesky
Boone Pickens
Carl Schan
Sir James Goldsmith
Goldsmith
U.S
Toronto
Maryland
Akron, Ohio