Goodyear Tires: From Poker Chips to Automobile Racing

Goodyear Tire & Rubber Company was founded in 1898 by Frank Seiberling and his brother Charles, who converted a strawboard factory in Akron, Ohio to use as the company's first rubber plant. Goodyear's beginnings as a company was not built on good fortune. In fact, it was purchased from borrowed money. The company simply rode on the promise of the vulcanized rubber tires to revolutionize the world's emerging industries and promptly took their name after Charles Goodyear.

In spite of the fact that the company was operating out of a loan and was named after an inventor who died penniless, their timing was perfect. The bicycle was the transportation of choice in the 1890s and there was plenty of room for Goodyear Tires to participate as a tire supplier. When it was incorporated in the third quarter of 1898, Goodyear Tires was ready for the big time. Using the manpower of just 13 employees, Goodyear began producing bicycle tires, along with carriage tires, horse shoe pads and even poker chips.

In 1900, the famous symbol of Goodyear, the Wingfoot, was adapted. During the next year, Goodyear Tires was producing racing tires for Henry Ford. Seven years later, Goodyear tires appeared on Ford's Model T. In 1909, Goodyear produced their very first tires designed to be used for aircrafts.

In 1926, Goodyear was recognized as the world's largest rubber-producing company. Its tires became popular in the racing circuit, making it the brand of choice for many race car drivers. Goodyear also produced fighter planes for World War II and in 1956, actually owned a functional nuclear processing plant located in Ohio.

By 1974, Goodyear Tires had built plants and headquarters in 34 countries. Although its history in the 1980s is marred by damaging takeover attempts, restructuring, employee lay offs and even strikes, Goodyear continued to expand and grow, participating actively in new markets.

Today, Goodyear Tire & Rubber is considered as America's largest tire manufacturer and third largest in the world next to Michelin of France and Bridgestone Corp. of Japan. Its business has expanded to include manufacturing products for use in the military, hardware technology and aerospace industries.

Facts about Goodyear Tire & Rubber: Although it was named in honor of Charles Goodyear, who first invented the process of rubber vulcanization, the company is not related to him.

The Goodyear Tire symbol is called the Wingfoot, probably one of the most recognizable logos in the world. It was the idea of Frank Seiberling, who was inspired by a replica of the famous statue of Mercury (also known as Hermes). The statue stood at the stairway of Seiberling's old home. Although Mercury is known as the god of commerce and trade, he was also recognized as a swiftfooted messeger. His association with speed, along with his reputation for being the herald of good news, was key to the selection of his foot as Goodyear's symbol.

The Goodyear blimp made the company famous worldwide and was the product of Goodyear's numerous designs in an attempt to penetrate the aerospace and aircraft industries of the U.S. after the 2nd World War.

Goodyear Tire is known for manufacturing tires for cars, race cars, heavy machineries and airplanes, but it also makes shoe soles, electronic printer parts and rubber hoses.

Although it is now a billion-dollar business, Goodyear Tires needed 53 years to hit the billion-dollar mark.

Like BF Goodrich, Goodyear also contributed to the war effort, although theirs was focused on military operations during World War I. They had begun preliminary designs on balloons and airships for use by the U.S. military in 1911 and their designs were later used for reconnaissance and transport activities.