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Coming Next Issue
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Jay Leno |
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Hot Rod Tour |
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Paint Film |
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Porter Cable Rotary |
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| News: Goodyear Not Off To A Good Start |
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Goodyear Tire & Rubber Company announced a first-quarter loss despite a 7% increase in sales, as the company's operations were dragged down by poor results from its North American unit. Goodyear reported a net loss of $163.3 million for the first quarter of 2003, compared with a net loss of $63.2 million in the first quarter of 2002.
"While North American Tyre continues to struggle, we see room for optimism," said Robert J. Keegan, Goodyear president and chief executive officer. "We are aggressively cutting costs to make this business competitive, and we are encouraged by market share gains in this unit compared to the fourth quarter of 2002. We have much work left to do, but our turnaround is on track."
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