Goodyear workers approve contract

| 12/29/2006

Goodyear Tire & Rubber Co. workers who've been on strike for almost three months are scheduled to go back to work Tuesday, Jan. 2, following the approval of a new contract.

According to The Wall Street Journal, the workers got the $1 billion health care fund for retirees that they wanted.

The company gets to shut down what it says is an unprofitable private-label tire plant in Tyler, TX - but agreed to wait one year before closing it.

Goodyear says the new contract will allow it to save more than $600 million during the next three years.