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The Goodyear Tire & Rubber Company was founded in 1898 by Frank Seiberling. Goodyear manufactures tires for automobiles, commercial trucks, light trucks, SUVs, race cars, airplanes, and heavy earth-mover machinery.
Although the company was not connected with him, it was named in honor of Charles Goodyear. Goodyear invented vulcanized rubber in 1839. The first Goodyear Tires became popular because they were easily detachable and low maintenance.
Goodyear is very famous throughout the world because of the Goodyear blimp. The first Goodyear blimp flew in 1925. Today it is one of the most recognizable advertising icons in America. The company is the most successful tire supplier in Formula One history, with more starts, wins, and constructors’ championships than any other tire supplier. They pulled out of the sport after the 1998 season.
On July 10, 2008, the Goodyear Tire & Rubber Company was recognized as one of America’s most respected companies by the Reputation Institute (RI) and Forbes magazine. Goodyear ranked 16th on the magazine’s third annual listing of companies with the best reputations in the United States.
The list is based on the results RI’s Global Pulse consumer opinion survey, which measures the overall respect, trust, esteem, admiration and good feelings consumers hold toward the world’s largest companies.
Scores are based on RI’s seven dimensions of reputation: products/services, innovation, workplace, citizenship, governance, leadership and performance. RI said the 2008 survey indicates that consumers are most influenced by a company’s high-quality products and services as well as its governance and citizenship.
Goodyear’s score of 76.0, represented a 7.54 point increase over 2007 and was the largest year-over-year improvement of any company on the list. Goodyear is the only tire company on the top-75 list.
The recognition from RI and Forbes is the fifth significant honor for Goodyear in 2008. The company was named the world’s most admired company in the motor vehicle parts industry by Fortune magazine. Audit Integrity Inc. and Forbes magazine ranked Goodyear sixth on their list of America’s most trustworthy companies. The Wall Street Journal recognized Goodyear for leading shareholder return for the past five years in the automotive category. Goodyear was also ranked among the Top 100 Corporate Citizens selected by CRO magazine.
The company announced in summer 2009 that it will close its tire plant in the Philippines as part of a strategy to address uncompetitive manufacturing capacity globally by the end of the third quarter.