Yeah, we know — tire manufacturers. They're only important when somethin's off-kilter — and let it never be said that Bridgestone (formerly Bridgestone-Firestone) can't deliver. The Japanese tire maker released numbers this morning — and they were — well, mixed. The company announced a lowering of their half-year net profit forecast by nine percent due to the likely closure of their plant in Oklahoma City. At the same time they raised their operating profit projection due to weaker yen valuations over the past six months. It seems like even the Japanese manufacturers are jumping on that "close plants and make money through accounting" method employed by other automotive manufacturers and suppliers. The May Day message appears to be the same as any other — what's good for corporate America is — umm — not-so-good for workers?
Bridgestone Tire To Close US Plant - Reports 1Q 2006 Results [The Auto Channel]
More on tires [internal]