Goodyear and Union Gain in Retiree Plan

The Goodyear Tire & Rubber Co. and the United Steelworkers have received a federal judge's preliminary approval for creation of a $1 billion health care trust for retirees, but further legal steps remain. U. S. District Judge, John Adams, gave the initial clearance to the plan in Akron and Goodyear retirees can now express any concerns. Final approval is expected in the first half of 2008. Under the proposed plan, Goodyear will make a one-time payment to fund a Voluntary Employees Beneficiary Association. Meanwhile, the steelworkers will pay part of their cost-of-living increases and profit sharing into the fund.