On Oct. 16, 2006, Standard&Poor's Ratings Services placed its 'B+' corporate credit rating on Goodyear Tire&Rubber Co. on CreditWatch with negative implications because of the potential for business disruptions and earnings pressures that could result from the ongoing labor dispute at some of its North American operations. Goodyear has total debt (including the present value of operating leases and underfunded employee benefit liabilities) of about $7 billion. About 15,000 employees at 14 plants in the U.S. and Canada went on strike on Oct. 5, 2006. The employees are represented by the United Steel Workers (USW). Goodyear's contract with the USW expired on July 22, 2006, although negotiations for a new contract continued until early October. The
