AKRON (Dec. 27) — Goodyear´s stock price rose 2 percent Dec. 26 to $20.12 after announcing a tentative agreement with the striking United Steelworkers after the market closed Dec. 22.
The closing marked the first time the Akron-based tire maker´s stock price rose above $20 since June 18, 2002. During the day on Dec. 26, the stock traded at a high of $20.38.
The union, which has been on strike at 16 North American facilities since Oct. 5, will vote on the tentative pact Dec. 28. A majority of the majority principle applies — meaning that a majority of the locals as well as a majority of the overall membership must vote to accept the tentative pact as the new contract in order for it to be ratified.