goodyear 8K Reports 2/03/09

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): February 3, 2009

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 2.02 Results of Operations and Financial Condition.

A copy of a news release issued by The Goodyear Tire & Rubber Company on Tuesday, February 3, 2009 is attached hereto as Exhibit
99.1.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1 News release, dated February 3, 2009

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

February 3, 2009 By: Darren R. Wells

Name: Darren R. Wells
Title: Executive Vice President and Chief Financial Officer

Exhibit Index

Exhibit No. Description

99.1 News release, dated February 3, 2009

News Release
Corporate Headquarters: 1144 East Market Street, Media Website: www.GoodyearNewsRoom.com

Akron, Ohio 44316-0001

MEDIA CONTACT: Keith Price

330-796-1863

ANALYST CONTACT: Pat Stobb

330-796-6704

FOR IMMEDIATE RELEASE

#23687fi.209

Goodyear Highlights Industry Challenges, Resulting Production Cuts at JP Morgan
Investor
Conference
MIAMI BEACH, Fla., February 3, 2009 – The Goodyear Tire & Rubber Company at the JP Morgan High Yield
Conference today will discuss fourth quarter 2008 industry conditions as well as corresponding production cuts
taken during the period.

“It is widely known that the economic slowdown is having a considerable impact on consumer demand and
industry volume,” said Darren R. Wells, executive vice president and chief financial officer. “Fourth quarter
industry volumes were well below expected levels, prompting a significant increase to our production cuts that now
extend across all business units.”

Wells said Goodyear continues to respond aggressively to the environment in 2009 with additional cost savings
and inventory reductions. “We continue to adjust production to reduce inventory levels and to keep pace with the
lower demand environment.” The company plans to announce a series of new actions on its full-year conference
call scheduled for February 18.

Goodyear estimates industry volumes in North America for consumer replacement shipments were down
approximately 3.5 percent for the 2008 full year compared to 2007. The consumer original equipment market was
down 22 percent. In the commercial tire market, replacement shipments were down 11 percent and original
equipment shipments were down approximately 18.5 percent.

For industry volumes in Europe, the company estimates the consumer replacement market was down 6 percent
in 2008 compared to 2007. Consumer original equipment shipments were down approximately 4.5 percent. In the
commercial tire market, replacement shipments were down 13 percent and original equipment shipments were
down 2 percent.

“In response to the sharp decline in fourth quarter industry volumes, we raised our production cuts in the quarter
to approximately 17 million units compared to our previous expectation of 11 million units,” Wells said. “Most of
the 6 million unit increase can be attributed to the company’s international businesses, including Asia-Pacific and
Latin America, and resulted in higher unabsorbed fixed cost across all regions.”

Wells also said high raw material costs remain a challenge. “Goodyear’s raw material costs were approximately

13 percent higher in 2008 than in 2007, with much of this increase coming in the fourth quarter, which was up
more than 25 percent. We anticipate raw material cost increases to peak in the first quarter before beginning to
moderate in the second quarter.”

Investors, media and other interested persons can access a live webcast of the presentation at 11:15 a.m. on the
company’s investor relations Web site: www.goodyear.com/investor. Presentation materials also will be posted to
the web site.

Goodyear is one of the world’s largest tire companies. Fortune magazine named Goodyear the World’s Most
Admired Motor Vehicle Parts Company in its 2008 list of the World’s Most Admired Companies. The publication
ranked Goodyear No. 1 in innovation, people management, use of assets and global orientation. The company is
also listed on Forbes magazine’s list of the Most Respected Companies in America and its list of the Most
Trustworthy Companies in America and CRO magazine’s ranking of the 100 Best Corporate Citizens. Goodyear
employs about 70,000 people and manufactures its products in more than 60 facilities in 25 countries around the
world.

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. There are a variety of factors,
many of which are beyond our control, which affect our operations, performance, business strategy and results and
could cause our actual results and experience to differ materially from the assumptions, 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; our ability to realize anticipated savings and operational benefits from our cost reduction initiatives or to
implement successfully other strategic initiatives; work stoppages, financial difficulties or supply disruptions at our
suppliers or customers; potential adverse consequences of litigation involving the company; pension plan funding
obligations; deteriorating economic conditions or an inability to access capital markets; 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 our filings with the Securities and Exchange Commission,
including our annual report 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.

goodyear 8K Reports 2/03/09

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goodyear 8K Reports 2/03/09