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Goodyear Turnaround Continues as Cash Flow Lags

Goodyear Tire & Rubber CEO Mark Stewart sits in the vehicle bay of a tire shop where the company is launching a new retail experience for customers.

There’s a freshly painted black facade on the revamped Detroit store, with the words “Motor City” added in white flanking Goodyear’s winged foot logo. It’s dressed up for a private event tied to a nearby annual car festival called the Woodward Dream Cruise…

“We have made so much progress, and when you think about it from the standpoint of the Goodyear Forward program, it was really to get our feet back on the ground towards being the iconic company that we always were,” Stewart, wearing an unbuttoned navy blue Goodyear technician shirt, told CNBC during an interview at the shop.

But while Goodyear is well known for burning rubber, it’s also burning cash as it restructures, tries to refinance, and pays down years of debt…

Source: LA Weekly Times

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