8-K

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): December 22, 2006

The Goodyear Tire & Rubber Company
__________________________________________
(Exact name of registrant as specified in its charter)

Ohio	1-1927	34-0253240
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
1144 East Market Street, Akron, Ohio		44316-0001
_________________________________ (Address of principal executive offices)		___________ (Zip Code)

Registrant’s telephone number, including area code: 330-796-2121

Not Applicable
______________________________________________
Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events.

On December 22, 2006, The Goodyear Tire & Rubber Company issued two news releases with respect to its tentative agreement with the United Steelworkers on the terms of a new master labor contract coverning employees at 12 tire and engineered products plants in the United States. The news releases, attached to this Current Report on Form 8-K as Exhibits 99.1 and 99.2, are incorporated by reference into this Item 8.01.

Item 9.01 Financial Statements and Exhibits.

Exhibit 99.1 News Release Dated December 22, 2006
Exhibit 99.2 News Release Dated December 22, 2006

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	The Goodyear Tire & Rubber Company
December 26, 2006	By:	C. Thomas Harvie
		Name: C. Thomas Harvie
		Title: Senior Vice President, General Counsel and Secretary

Exhibit Index

Exhibit No.	Description
99.1	News Release dated December 22, 2006
99.2	News Release dated December 22, 2006

EX-99.1

	News Release
Corporate Headquarters: 1144 East Market Street, Akron, Ohio 44316-0001	Media Website: www.GoodyearNewsRoom.com

Media Contact: Ed Markey

330-796-8801

Analyst Contact: Greg Dooley

330-796-6704

FOR IMMEDIATE RELEASE

#23409pl.1206

Goodyear & USW Reach Tentative Agreement
On New Labor Contract

AKRON, Ohio, December 22, 2006 – The Goodyear Tire & Rubber Company and the United Steelworkers (USW) have reached tentative agreement on a new master contract covering about 12,600 employees at 12 tire and engineered products plants in the United States. The USW is expected to schedule ratification votes at all plants in the coming days.

The previous three-year labor agreement expired July 22, 2006. The Goodyear USW members have been on strike since October 5, 2006.

The 12 master contract plants covered by the tentative agreement are: Akron, Ohio; Buffalo, N.Y.; Danville, Va.; Fayetteville, N.C.; Gadsden, Ala.; Lincoln, Neb.; Marysville, Ohio; St. Marys, Ohio; Sun Prairie, Wis.; Topeka, Kan.; Tyler, Texas; and Union City, Tenn.

Goodyear is one of the world’s largest tire companies. The company manufactures tires, engineered rubber products and chemicals in more than 100 facilities in 29 countries around the world. Goodyear employs about 80,000 people worldwide.

Certain information contained in this press release may constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995.  Actual results may differ materially from those indicated by such forward-looking statements as a result of various factors, including whether or not the members of the United

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Steelworkers ratify the terms of the proposed bargaining agreement, any action that may be taken by the company or the United Steelworkers in the event that the proposed bargaining agreement in not ratified, and the final terms and conditions of the ratified bargaining agreement.   There are a variety of additional factors, many of which are beyond the company’s control, which affect its operations, performance, business strategy and results and could cause its actual results and experience to differ materially from the expectations and objectives expressed in any forward-looking statements.  These factors include, but are not limited to, actions and initiatives taken by both current and potential competitors, increases in the prices paid for raw materials and energy, the company’s ability to realize anticipated savings and operational benefits from its cost reduction initiatives, potential adverse consequences of litigation involving the company, pension plan funding obligations as well as the effects of more general factors such as changes in general market or economic conditions or in legislation, regulation or public policy.  Additional factors are discussed in the company’s filings with the Securities and Exchange Commission, including the company’s annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.  In addition, any forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date.  While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change.

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	News Release
Corporate Headquarters: 1144 East Market Street, Akron, Ohio 44316-0001	Media Website: www.GoodyearNewsRoom.com

Media Contact: Ed Markey

330-796-8801

Analyst Contact: Greg Dooley

330-796-6704

FOR IMMEDIATE RELEASE

#23410pl.1206

New Goodyear Labor Agreement Reduces Cost, Improves Competitiveness and Protects Health Care

AKRON, Ohio, December 22, 2006 – The Goodyear Tire & Rubber Company said today that its tentative agreement with the United Steelworkers union supports Goodyear’s strategy to significantly reduce costs and improve competitiveness in its North American operations.

“Our goal was always to reach a fair agreement that improves our ability to compete and win with customers. This agreement would accomplish that goal,” said Robert J. Keegan, chairman and chief executive officer.

The tentative agreement, which covers workers at 12 tire and engineered products plants in the United States, gives Goodyear the ability to reduce excess high-cost manufacturing capacity, reduce legacy costs, improve productivity and reduce labor costs consistent with the four point cost reduction plan that was announced to investors in 2005. The tentative agreement:

• Secures retiree medical benefits through an independently administered Voluntary Employees’ Beneficiary Association (VEBA) to be launched with an up front $1 billion contribution from Goodyear to consist of $700 million in cash and up to $300 million in additional cash or common stock at the company’s option. Subject to court and regulatory approvals, the VEBA would assume full responsibility for providing retiree medical benefits to all present and future Goodyear USW retirees;

• Consistent with Goodyear’s previously announced plans to exit certain segments of the private label tire business, provides for the closing of the Tyler, Texas, facility after December 31, 2007;

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• Delivers substantial improvements in labor costs and productivity through redesign of incentive systems and immediate implementation of market-based wage and benefit levels for all new hires;

• Improves job security and provides capital investments in USW plants of at least $550 million over the life of the agreement.

Goodyear will hold a conference call in January for investors, financial analysts and media to discuss specifics of the new contract if the tentative agreement is ratified by the USW membership. The timing of that call will be announced at a later date.

The 12 master contract plants and their workers covered by the tentative agreement are: Akron, Ohio; Buffalo, N.Y.; Danville, Va.; Fayetteville, N.C.; Gadsden, Ala.; Lincoln, Neb.; Marysville, Ohio; St. Marys, Ohio; Sun Prairie, Wis.; Topeka, Kan.; Tyler, Texas; and Union City, Tenn.

Goodyear is one of the world’s largest tire companies. The company manufactures tires, engineered rubber products and chemicals in more than 100 facilities in 29 countries around the world. Goodyear employs about 80,000 people worldwide.

Certain information contained in this press release may constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995.  Actual results may differ materially from those indicated by such forward-looking statements as a result of various factors, including whether or not the members of the United Steelworkers ratify the terms of the proposed bargaining agreement, any action that may be taken by the company or the United Steelworkers in the event that the proposed bargaining agreement in not ratified, the final terms and conditions of the ratified bargaining agreement, and, with respect to the Voluntary Employee Beneficiary Association (VEBA), whether or not the various contingencies and requirements are met for the establishment of the VEBA, including the receipt of the necessary court and regulatory approvals.   There are a variety of additional factors, many of which are beyond the company’s control, which affect its operations, performance, business strategy and results and could cause its actual results and experience to differ materially from the expectations and objectives expressed in any forward-looking statements.  These factors include, but are not limited to, actions and initiatives taken by both current and potential competitors, increases in the prices paid for raw materials and energy, the company’s ability to realize anticipated savings and operational benefits from its cost reduction initiatives, including those related to the closure of the company’s Tyler, Texas facility, potential adverse consequences of litigation involving the company, pension plan funding obligations as well as the effects of more general factors such as changes in general market or economic conditions or in legislation, regulation or public policy.  Additional factors are discussed in the company’s filings with the Securities and Exchange Commission, including the company’s annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.  In addition, any forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date.  While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change.

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