Goodyear Warns of Neglect of Manufacturing Sector After Being Dropped from Dow Jones

The recent decision by the Wall Street Journal to drop Goodyear Tire & Rubber Co. from the Dow Jones industrial average in favor of technology and service industries has sparked concerns from the manufacturing sector, according to Robert Tieken, executive vice president and chief financial officer of Goodyear. Tieken emphasized that investors should not ignore the manufacturing sector, which remains a crucial component of the US and global economies. Goodyear's relationship as a global supplier of tires and rubber products to various industries makes it a bellwether for a significant segment of the economy.

Key Takeaways:

Goodyear Tire & Rubber Co. was dropped from the Dow Jones industrial average by the Wall Street Journal.
The company will be replaced by Home Depot Inc., Intel Corp., Microsoft Corp., and SBC Communications Inc.
Robert Tieken, executive vice president and chief financial officer, warned that investors should not neglect the manufacturing sector, which remains a key component of the US and global economies.
Goodyear's inclusion in the Dow 30 for nearly 70 years has provided investors with a window on a major segment of the manufacturing base that drives the US economy.
Of the original 30 companies in the Dow 30 when Goodyear joined in 1930, only five will remain after this change.
Goodyear intends to move forward from a position of strength as the world's largest tiremaker and focus on profitable growth in the 21st century.

Statistics:

Goodyear was included in the Dow 30 for nearly 70 years.
Of the original 30 companies in the Dow 30 when Goodyear joined in 1930, only five will remain after this change.
The manufacturing sector is a crucial component of the US and global economies.

Sources:

Wall Street Journal