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127-571: The company formerly known as the United States Rubber Company , now Uniroyal , is an American manufacturer of tires and other synthetic rubber -related products, as well as variety of items for military use, such as ammunition , explosives , chemical weapons and operations and maintenance activities (O&MA) at the government-owned contractor-operated facilities. It was founded in Naugatuck, Connecticut , in 1892. It
254-440: A wheelwright , would cause the tire to expand by heating it in a forge fire, placing it over the wheel, and quenching it, causing the metal to contract back to its original size to fit tightly on the wheel. The first patent for what appears to be a standard pneumatic tire appeared in 1847 and was lodged by Scottish inventor Robert William Thomson . However, this idea never went into production. The first practical pneumatic tire
381-494: A 1968 article in an influential American magazine, Consumer Reports , highlighting the superiority of radial construction. The US tire industry lost its market share to Japanese and European manufacturers, which bought out US companies. Tires may be classified according to the type of vehicle they serve. They may be distinguished by the load they carry and by their application, e.g. to a motor vehicle, aircraft, or bicycle. Light-duty tires for passenger vehicles carry loads in
508-633: A bias tire are many, including longer tread life, better steering control, lower rolling resistance , improved fuel economy, more uniform wear, higher heat resistance, fewer blowouts, and a steadier, more comfortable ride at speed. Disadvantages, besides a higher cost than that of bias tires, are a harder ride at low speeds and generally worse performance on rough terrain. Radial tires are also seldom seen in diameters of greater than 42 inches, as such tires are difficult to make. Bias tire (bias-ply, or cross-ply) construction utilizes body ply cords that extend diagonally from bead to bead, usually at angles in
635-487: A dollar are emitted as Federal Reserve Notes , disregarding these special cases: In the 16th century, Count Hieronymus Schlick of Bohemia began minting coins known as joachimstalers , named for Joachimstal , the valley in which the silver was mined. In turn, the valley's name is titled after Saint Joachim , whereby thal or tal , a cognate of the English word dale , is German for 'valley.' The joachimstaler
762-757: A dollar, and dimes at 0.100 of a dollar. After the adoption of the United States Constitution , the U.S. dollar was defined by the Coinage Act of 1792 . It specified a "dollar" based on the Spanish milled dollar to contain 371 + 4 ⁄ 16 grains of fine silver, or 416.0 grains (26.96 g) of "standard silver" of fineness 371.25/416 = 89.24%; as well as an "eagle" to contain 247 + 4 ⁄ 8 grains of fine gold, or 270.0 grains (17.50 g) of 22 karat or 91.67% fine gold. Alexander Hamilton arrived at these numbers based on
889-648: A few cases, U.S. coins) used in circulation. The monetary policy of the United States is conducted by the Federal Reserve System , which acts as the nation's central bank . As of February 10, 2021, currency in circulation amounted to US$ 2.10 trillion , $ 2.05 trillion of which is in Federal Reserve Notes (the remaining $ 50 billion is in the form of coins and older-style United States Notes ). As of September 20, 2023,
1016-424: A footprint, called a contact patch , designed to match the vehicle's weight and the bearing on the surface that it rolls over by exerting a pressure that will avoid deforming the surface. The materials of modern pneumatic tires are synthetic rubber , natural rubber , fabric, and wire, along with carbon black and other chemical compounds. They consist of a tread and a body. The tread provides traction while
1143-545: A grain of pure, or four hundred and sixteen grains of standard silver. Section 20 of the Act designates the United States dollar as the unit of currency of the United States: [T]he money of account of the United States shall be expressed in dollars, or units...and that all accounts in the public offices and all proceedings in the courts of the United States shall be kept and had in conformity to this regulation. Unlike
1270-492: A hostile takeover by financier Carl C. Icahn . At the time, Uniroyal was the fifth-largest tire company in the country. To help pay the nearly $ 1 billion in debt incurred in the leveraged buyout, the company sold its Uniroyal's Chemical subsidiary to Avery Inc. – a producer of agricultural chemicals , industrial chemical additives and specialized rubber and plastic products – for $ 760 million in May 1986. The remaining tire operation
1397-688: A landmark gender discrimination case, Chrapliwy v. Uniroyal , under Title VII of the Civil Rights Act of 1964 . The class action lawsuit was settled in favor of the plaintiffs, but the issue of attorney fees was decided by the United States Court of Appeals for the Seventh Circuit in 1982. In 1985, Uniroyal was taken private by its management and the New York investment firm of Clayton, Dubilier & Rice to prevent
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#17328016693401524-575: A limited extent" as money. Treasury Notes were again printed to help resolve the reduction in public revenues resulting from the Panic of 1837 and the Panic of 1857 , as well as to help finance the Mexican–American War and the Civil War . Paper money was issued again in 1862 without the backing of precious metals due to the Civil War . In addition to Treasury Notes, Congress in 1861 authorized
1651-707: A rubber boot was fitted onto the leading edge of a propeller. The boot contained wires that conducted electricity to heat the edge and break-up ice. In 1958, Uniroyal entered into a partnership with the Englebert tire company of Liège , Belgium , which became known as Uniroyal Englebert Deutschland AG. In 1963, the name was shortened to Uniroyal-Englebert, and in 1967 it became Uniroyal along with all company divisions. Uniroyal sold this division with its four factories in Belgium, Germany, France and Scotland to Continental AG in 1979. Continental continues to market tires under
1778-479: A separate inner tube . Semi-pneumatic tires have a hollow center, but they are not pressurized. They are lightweight, low-cost, puncture-proof, and provide cushioning. These tires often come as a complete assembly with the wheel and even integral ball bearings . They are used on lawn mowers , wheelchairs , and wheelbarrows . They can also be rugged, typically used in industrial applications, and are designed to not pull off their rim under use. An airless tire
1905-656: A series of mergers with other companies in Ontario and Quebec became the Canadian Consolidated Rubber Company Limited. After another series of mergers, the company became the Dominion Rubber Company Limited in 1926. It produced footwear under a variety of brand names, coated upholstery fabrics, mechanical parts, industrial chemicals and vehicle tires. In 1966, after four decades as Dominion, the company
2032-678: A series of revisions to the gold peg was implemented, culminating in the Nixon Shock of August 15, 1971, which suddenly ended the convertibility of dollars to gold. The U.S. dollar has since floated freely on the foreign exchange markets . Congress continued to issue paper money after the Civil War, the latest of which is the Federal Reserve Note that was authorized by the Federal Reserve Act of 1913 . Since
2159-524: A thin layer of brass, various additives will also be added to the rubber to improve binding, such as resorcinol / HMMM mixtures. The elastomer, which forms the tread and encases the cords to protect them from abrasion and hold them in place, is a key component of pneumatic tire design. It can be composed of various composites of rubber material – the most common being styrene-butadiene copolymer – with other chemical compounds such as silica and carbon black . Optimizing rolling resistance in
2286-487: A treasury assay of the average fine silver content of a selection of worn Spanish dollars , which came out to be 371 grains. Combined with the prevailing gold-silver ratio of 15, the standard for gold was calculated at 371/15 = 24.73 grains fine gold or 26.98 grains 22K gold. Rounding the latter to 27.0 grains finalized the dollar's standard to 24.75 grains of fine gold or 24.75*15 = 371.25 grains = 24.0566 grams = 0.7735 troy ounces of fine silver. The same coinage act also set
2413-507: A variety of profiles and carry loads in the range of 4,000 to 5,500 pounds (1,800 to 2,500 kg) on the drive wheel. These are typically mounted in tandem on the drive axle. Aircraft, bicycles, and a variety of industrial applications have distinct design requirements. Tire construction spans pneumatic tires used on cars, trucks, and aircraft, but also includes non-automotive applications with slow-moving, light-duty, or railroad applications, which may have non-pneumatic tires. Following
2540-687: A whole, providing the main advantage of this construction, better traction and smoother motion on uneven surfaces, with a greater tendency to conform to rocky ground and throw off mud and clay, especially because the rubber is usually of a softer compound than that used on radial tires. However, this conformity increases a bias tire's rolling resistance, and its stiffness allows less control, traction , and comfort at higher speeds, while shear between its overlapping plies causes friction that generates heat. Still, bias tires benefit from simpler structure and so cost less than like-size radials, and they remain in use on heavy equipment and off-road vehicles, although
2667-557: Is a non-pneumatic tire that is not supported by air pressure. They are most commonly used on small vehicles, such as golf carts, and on utility vehicles in situations where the risk of puncture is high, such as on construction equipment. Many tires used in industrial and commercial applications are non-pneumatic, and are manufactured from solid rubber and plastic compounds via molding operations. Solid tires include those used for lawnmowers, skateboards, golf carts, scooters , and many types of light industrial vehicles, carts, and trailers. One of
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#17328016693402794-418: Is a ring-shaped component that surrounds a wheel's rim to transfer a vehicle's load from the axle through the wheel to the ground and to provide traction on the surface over which the wheel travels. Most tires, such as those for automobiles and bicycles, are pneumatically inflated structures, providing a flexible cushion that absorbs shock as the tire rolls over rough features on the surface. Tires provide
2921-430: Is a term used for a tire that failed inspection during manufacturing - but only for superficial/cosmetic/aesthetic reasons. For example, a tire with white painted lettering which is smudged or incomplete might be classified as a "blem". Blem tires are fully functional and generally carry the same warranty as flawless tires - but are sold at a discount. The materials of modern pneumatic tires can be divided into two groups,
3048-416: Is characterized by a system of circumferential grooves, lateral sipes, and slots for road tires or a system of lugs and voids for tires designed for soft terrain or snow. Grooves run circumferentially around the tire and are needed to channel away water. Lugs are that portion of the tread design that contacts the road surface. Grooves, sipes, and slots allow tires to evacuate water. The design of treads and
3175-426: Is constructed with robust steel cables encased in durable, specially formulated rubber designed to resist stretching. The precision of the bead's fit is crucial, as it seals the tire against the wheel, maintaining air pressure integrity and preventing any loss of air. The bead's design ensures a secure, non-slip connection, preventing the tire from rotating independently from the wheel during vehicle motion. Additionally,
3302-527: Is key in achieving safety and fuel efficiency in the transportation sector. The most common elastomer material used today is a styrene - butadiene copolymer. It combines the properties of polybutadiene , which is a highly rubbery polymer ( Tg = -100 °C) having high hysteresis and thus offering good wet grip properties, with the properties of polystyrene , which is a glassy polymer ( Tg = 100 °C) having low hysteresis and thus offering low rolling resistance in addition to wear resistance. Therefore,
3429-617: Is not now accepted by the best English authorities, and is unrecognized in the US" , while Fowler's Modern English Usage of 1926 describes that "there is nothing to be said for 'tyre', which is etymologically wrong, as well as needlessly divergent from our own [sc. British] older & the present American usage". However, over the 20th century, tyre became established as the standard British spelling. The earliest tires were bands of leather , then iron (later steel ) placed on wooden wheels used on carts and wagons . A skilled worker, known as
3556-454: Is one of the first words of Section 9, in which the term refers to the Spanish milled dollar , or the coin worth eight Spanish reales . In 1792, the U.S. Congress passed the Coinage Act , of which Section 9 authorized the production of various coins, including: Dollars or Units —each to be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenth parts of
3683-460: Is that it is derived from the Pillars of Hercules on the Spanish coat of arms of the Spanish dollar . These Pillars of Hercules on the silver Spanish dollar coins take the form of two vertical bars ( || ) and a swinging cloth band in the shape of an S . Yet another explanation suggests that the dollar sign was formed from the capital letters U and S written or printed one on top of
3810-437: Is that part of the tire at the edge of the tread as it makes the transition to the sidewall. Plies are layers of relatively inextensible cords embedded in the rubber to hold its shape by preventing the rubber from stretching in response to the internal pressure. The orientations of the plies play a large role in the performance of the tire and are one of the main ways that tires are categorized. Blem (short for "blemished")
3937-489: Is the official currency of the United States and several other countries . The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar , divided it into 100 cents , and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes , popularly called greenbacks due to their predominantly green color. The U.S. dollar
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4064-468: The Coinage Act of 1834 the dollar's fine gold equivalent was revised to 23.2 grains; it was slightly adjusted to 23.22 grains (1.505 g) in 1837 (gold-silver ratio ~16). The same act also resolved the difficulty in minting the "standard silver" of 89.24% fineness by revising the dollar's alloy to 412.5 grains, 90% silver, still containing 371.25 grains fine silver. Gold was also revised to 90% fineness: 25.8 grains gross, 23.22 grains fine gold. Following
4191-551: The Comstock Lode in the 1870s. This was the so-called "Crime of '73". The Gold Standard Act of 1900 repealed the U.S. dollar's historic link to silver and defined it solely as 23.22 grains (1.505 g) of fine gold (or $ 20.67 per troy ounce of 480 grains). In 1933, gold coins were confiscated by Executive Order 6102 under Franklin D. Roosevelt , and in 1934 the standard was changed to $ 35 per troy ounce fine gold, or 13.71 grains (0.888 g) per dollar. After 1968
4318-545: The Continental Congress resolved that the money unit of the United States, the dollar, would contain 375.64 grains of fine silver; on August 8, 1786, the Continental Congress continued that definition and further resolved that the money of account, corresponding with the division of coins, would proceed in a decimal ratio , with the sub-units being mills at 0.001 of a dollar, cents at 0.010 of
4445-526: The Dutch pioneered in modern-day New York in the 17th century the use and the counting of money in silver dollars in the form of German-Dutch reichsthalers and native Dutch leeuwendaalders ('lion dollars'), it was the ubiquitous Spanish American eight-real coin which became exclusively known as the dollar since the 18th century. The colloquialism buck(s) (much like the British quid for
4572-630: The First World War , and displaced the pound sterling as the world's primary reserve currency by the Bretton Woods Agreement towards the end of the Second World War . The dollar is the most widely used currency in international transactions , and a free-floating currency . It is also the official currency in several countries and the de facto currency in many others, with Federal Reserve Notes (and, in
4699-842: The General Motors Corporation and with the addition of U.S. Rubber products, became one of the world's largest suppliers of original equipment tires. U.S. Rubber produced tires under the Gillette, Ward, Atlas, U.S. Rubber and U.S. Royal brands. In 1940, U.S. Rubber purchased the remainder of the Gillette Safety Tire Company, and began to expand and modernize the Eau Claire factory, greatly increasing production. During World War II , U.S. Rubber factories were devoted to production of war goods, and produced military truck and airplane tires, as well as
4826-590: The Pontiac GTO , which itself was promoted as The Tiger during its early years. Today, Uniroyal still uses the Tiger Paw brand name in its tire line. In 1990, Uniroyal was acquired by French tire maker Michelin and ceased to exist as a separate business. Today around 1,000 workers in the U.S. remain employed by Michelin to make its Uniroyal brand products. While in North America, Colombia and Peru,
4953-401: The pound sterling ) is often used to refer to dollars of various nations, including the U.S. dollar. This term, dating to the 18th century, may have originated with the colonial leather trade, or it may also have originated from a poker term. Greenback is another nickname, originally applied specifically to the 19th-century Demand Note dollars, which were printed black and green on
5080-479: The radial tire method of construction. Michelin had bought the bankrupt Citroën automobile company in 1934 to utilize this new technology. Because of its superiority in handling and fuel economy, use of this technology quickly spread throughout Europe and Asia. In the US, the outdated bias-ply tire construction persisted until the Ford Motor Company adopted radial tires in the early 1970s, following
5207-529: The vulcanization of natural rubber using sulfur, as well as the development of the "clincher" rim for holding the tire in place laterally on the wheel rim. Synthetic rubbers were invented in the laboratories of Bayer in the 1920s. Rubber shortages in the United Kingdom during WWII prompted research on alternatives to rubber tires with suggestions including leather, compressed asbestos, rayon, felt, bristles, and paper. In 1946, Michelin developed
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5334-420: The " Polyglas " trademark tire featuring a polyester carcass with belts of fiberglass. The "belted" tire starts two main plies of polyester, rayon, or nylon annealed as in conventional tires, and then placed on top are circumferential belts at different angles that improve performance compared to non-belted bias tires. The belts may be fiberglass or steel. Tubeless tires are pneumatic tires that do not require
5461-575: The 1840s when the English began shrink-fitting railway car wheels with malleable iron. Nevertheless, many publishers continued using tire . The Times newspaper in London was still using tire as late as 1905. The spelling tyre began to be commonly used in the 19th century for pneumatic tires in the UK. The 1911 edition of the Encyclopædia Britannica states that "The spelling 'tyre'
5588-479: The 1968 Consumer Reports announcement of the superiority of the radial design, radial tires began an inexorable climb in market share, reaching 100% of the North American market in the 1980s. Radial tire technology is now the standard design for essentially all automotive tires, but other methods have been used. Radial (or radial-ply) tire construction utilizes body ply cords extending straight across
5715-529: The Constitution provides that "a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time", which is further specified by Section 331 of Title 31 of the U.S. Code. The sums of money reported in the "Statements" are currently expressed in U.S. dollars, thus the U.S. dollar may be described as the unit of account of the United States. "Dollar"
5842-425: The Eau Claire plant was the fifth largest tire facility in the United States. The company again expanded the plant in 1965 to produce tires for construction machinery, and for many years it was the largest private employer in Eau Claire and the second largest in neighboring Chippewa Falls before it was closed in 1991. In late 1943, U.S. Rubber engineer Dr. Louis Marick developed a propeller de-icing system in which
5969-582: The Federal Reserve estimated that the total amount of currency in circulation was approximately US$ 2.33 trillion . Article I , Section 8 of the U.S. Constitution provides that Congress has the power "[t]o coin money ." Laws implementing this power are currently codified in Title 31 of the U.S. Code , under Section 5112, which prescribes the forms in which the United States dollars should be issued. These coins are both designated in
6096-522: The Martin's vice president Malcolm A. MacIntyre to operate Hanford nuclear site under the auspices of AEC , thus assuming duties, previously performed by the General Electric Co. In 1961, the company became Uniroyal, Inc. The Uniroyal name was applied to all its operating components and products by 1967, creating a unified brand. As Uniroyal in 1974, the company became defendant in
6223-948: The Spanish milled dollar, the Continental Congress and the Coinage Act prescribed a decimal system of units to go with the unit dollar, as follows: the mill , or one-thousandth of a dollar; the cent , or one-hundredth of a dollar; the dime , or one-tenth of a dollar; and the eagle , or ten dollars. The current relevance of these units: The Spanish peso or dollar was historically divided into eight reales (colloquially, bits ) – hence pieces of eight . Americans also learned counting in non-decimal bits of 12 + 1 ⁄ 2 cents before 1857 when Mexican bits were more frequently encountered than American cents; in fact this practice survived in New York Stock Exchange quotations until 2001. In 1854, Secretary of
6350-540: The Treasury James Guthrie proposed creating $ 100, $ 50, and $ 25 gold coins, to be referred to as a union , half union , and quarter union , respectively, thus implying a denomination of 1 Union = $ 100. However, no such coins were ever struck, and only patterns for the $ 50 half union exist. When currently issued in circulating form, denominations less than or equal to a dollar are emitted as U.S. coins , while denominations greater than or equal to
6477-854: The Treasury to borrow $ 50 million in the form of Demand Notes , which did not bear interest but could be redeemed on demand for precious metals. However, by December 1861, the Union government's supply of specie was outstripped by demand for redemption and they were forced to suspend redemption temporarily. In February 1862 Congress passed the Legal Tender Act of 1862 , issuing United States Notes , which were not redeemable on demand and bore no interest, but were legal tender , meaning that creditors had to accept them at face value for any payment except for public debts and import tariffs. However, silver and gold coins continued to be issued, resulting in
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#17328016693406604-693: The Uniroyal Goodrich Tire Company as its tire manufacturing unit in the United States and Canada. In January 1991, Michelin Group closed the historic Eau Claire, Wisconsin, plant, eliminating 1,350 positions. Later in 1991 it closed the tire-cord manufacturing plant in Lindsay, Ontario , with 74 workers on August 30, 1991, due to high cost and two tire factories with 1,000 jobs in Kitchener, Ontario , citing overcapacity. Also in 1991,
6731-589: The Uniroyal brand has been owned by Michelin since 1990, outside those regions, the Uniroyal brand has been owned by Continental AG since 1979 following their acquisition of Uniroyal Europe, formerly known as Englebert . By 1892, there were many rubber manufacturing companies in Naugatuck, Connecticut , as well as elsewhere in Connecticut. Nine companies consolidated their operations in Naugatuck to become
6858-631: The Uniroyal brand outside NAFTA , Colombia and Peru . Uniroyal operations in Canada were carried out under the name Dominion Rubber Company for a number of decades. Dominion started operations as Brown, Hibbard and Bourne, established in 1854. In 1866, the company registered as the Canadian Rubber Company of Montreal Limited and became prosperous manufacturing waterproof cloth, rubber footwear and machinery belts. It began to produce auto tires in 1906 in its Montreal factory and through
6985-703: The Uniroyal tiger returned to national television after a 10-year hiatus, featured in a new 30-second spot created by Wyse Advertising of Cleveland, Ohio . The animated Uniroyal tiger had been a television advertising icon for the company through the 1970s. The new commercial appeared on ESPN and CNN sports-related programming, and also was run by Uniroyal dealers in local markets. By 1993, Michelin North America employed 28,000 people at 18 plants, in South Carolina, Alabama, Oklahoma, Indiana, Nova Scotia and Ontario. In mid-1993, Michelin North America cut 2,500 of those jobs, which represented about 9% of its work force in
7112-534: The United States Rubber Company. One of the nine, Goodyear's India Rubber Glove Mfg. Co. (named Litchfield Rubber Co until 1847) – which manufactured rubber gloves for telegraph linemen – was the only company in which Charles Goodyear , inventor of the rubber vulcanization process, is known to have owned stock. From 1892 to 1913, the rubber footwear divisions of U.S. Rubber manufactured their products under 30 different brand names, including
7239-925: The United States and Canada, because of softening demand for tires. As of 2010, the Uniroyal Goodrich Tire unit continued to operate with about 1,000 workers at its tire plant in Woodburn, Indiana , and another plant in Tuscaloosa, Alabama . Citing overcapacity in the North American tire market, the plant in Opelika, Alabama , closed in 2009. The Uniroyal, Inc Records are held by the Special Collections and Archives Department at University of Wisconsin-Eau Claire . Comprising contract negotiation and grievance case files, meeting minutes, memos, correspondence, photos and audio visual material,
7366-450: The United States and to supervise its banking system, particularly in the aftermath of the Panic of 1907 . For most of the post-war period, the U.S. government has financed its own spending by borrowing heavily from the dollar-lubricated global capital markets, in debts denominated in its own currency and at minimal interest rates. This ability to borrow heavily without facing a significant balance of payments crisis has been described as
7493-625: The United States until the Coinage Act of 1857 . In particular, colonists' familiarity with the Spanish two- real quarter peso was the reason for issuing a quasi-decimal 25-cent quarter dollar coin rather than a 20-cent coin. For the relationship between the Spanish dollar and the individual state colonial currencies, see Connecticut pound , Delaware pound , Georgia pound , Maryland pound , Massachusetts pound , New Hampshire pound , New Jersey pound , New York pound , North Carolina pound , Pennsylvania pound , Rhode Island pound , South Carolina pound , and Virginia pound . On July 6, 1785,
7620-402: The United States was a significant recipient of wartime gold inflows. After the United States emerged as an even stronger global superpower during the Second World War , the Bretton Woods Agreement of 1944 established the U.S. dollar as the world's primary reserve currency and the only post-war currency linked to gold. Despite all links to gold being severed in 1971, the dollar continues to be
7747-576: The Wales-Goodyear Shoe Co. The company consolidated these footwear brands under one name, Keds , in 1916, and were mass-marketed as the first flexible rubber-sole with canvas-top " sneakers " in 1917. On May 26, 1896, Charles Dow created the Dow Industrial average of twelve industrial manufacturing stocks, which included U.S. Rubber Company. When the average expanded to a list of 20 stocks in 1916, U.S. Rubber remained, however
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#17328016693407874-521: The average Spanish dollar in circulation. The new U.S. silver dollar of 371.25 grains (24.057 g) therefore compared favorably and was received at par with the Spanish dollar for foreign payments, and after 1803 the United States Mint had to suspend making this coin out of its limited resources since it failed to stay in domestic circulation. It was only after Mexican independence in 1821 when their peso's fine silver content of 377.1 grains
8001-500: The backside, created by Abraham Lincoln to finance the North for the Civil War . It is still used to refer to the U.S. dollar (but not to the dollars of other countries). The term greenback is also used by the financial press in other countries, such as Australia , New Zealand , South Africa , and India . Other well-known names of the dollar as a whole in denominations include greenmail , green , and dead presidents ,
8128-723: The body provides containment for a quantity of compressed air . Before rubber was developed, tires were metal bands fitted around wooden wheels to hold the wheel together under load and to prevent wear and tear. Early rubber tires were solid (not pneumatic). Pneumatic tires are used on many vehicles, including cars , bicycles , motorcycles , buses , trucks , heavy equipment , and aircraft . Metal tires are used on locomotives and railcars , and solid rubber (or other polymers) tires are also used in various non-automotive applications, such as casters , carts , lawnmowers , and wheelbarrows . Unmaintained tires can lead to severe hazards for vehicles and people, ranging from flat tires making
8255-408: The bottom of the tread grooves that indicate the tire has reached its wear limit. When the tread lugs are worn to the point that the wear bars connect across the lugs, the tires are fully worn and should be taken out of service, typically at a remaining tread depth of 1.6 millimetres (0.063 in). The tire bead is the part of the tire that contacts the rim on the wheel. This essential component
8382-440: The buying and selling of goods. This allowed the value of things to remain fairly constant over time, except for the influx and outflux of gold and silver in the nation's economy. Though a Spanish dollar freshly minted after 1772 theoretically contained 417.7 grains of silver of fineness 130/144 (or 377.1 grains fine silver), reliable assays of the period in fact confirmed a fine silver content of 370.95 grains (24.037 g) for
8509-441: The canvas-top, rubber-soled Jungle boot for soldiers and marines serving in tropical and jungle environments. U.S. Rubber ranked 37th among United States corporations in the value of wartime production contracts. In 1942, the United States government restricted the sale of scarce rubber products for civilian use and production at the plant dwindled. The company sold the Eau Claire plant to the government, which then converted it for
8636-416: The cords that make up the ply and the elastomer which encases them. The cords, which form the ply and bead and provide the tensile strength necessary to contain the inflation pressure, can be composed of steel , natural fibers such as cotton or silk , or synthetic fibers such as nylon or kevlar . Good adhesion between the cords and the rubber is important. To achieve this the steel cords are coated in
8763-414: The currency, a practice compared to the policies of European monarchs. The currency as we know it today did not get the faces they currently have until after the early 20th century; before that "heads" side of coinage used profile faces and striding, seated, and standing figures from Greek and Roman mythology and composite Native Americans. The last coins to be converted to profiles of historic Americans were
8890-477: The debt securities in two parts through underwriters led by Drexel Burnham Lambert Inc. The two instruments were a US$ 250 million issue of 14 ⅛% notes due in 1998, and a US$ 165 million issue of 14 ½% subordinated debentures due in 2000. For the year 1988, Uniroyal Goodrich Tire posted sales revenue of US$ 2.2 billion, while profit declined to about a third of the prior year, less than US$ 12 million, which included an extraordinary credit of nearly US$ 2 million from
9017-632: The depreciation of the newly printed notes through Gresham's law . In 1869, Supreme Court ruled in Hepburn v. Griswold that Congress could not require creditors to accept United States Notes, but overturned that ruling the next year in the Legal Tender Cases . In 1875, Congress passed the Specie Payment Resumption Act , requiring the Treasury to allow U.S. Notes to be redeemed for gold after January 1, 1879. Though
9144-668: The dime (1946), the half Dollar (1948), and the Dollar (1971). After the American Revolution , the Thirteen Colonies became independent . Freed from British monetary regulations, they each issued £sd paper money to pay for military expenses. The Continental Congress also began issuing "Continental Currency" denominated in Spanish dollars. For its value relative to states' currencies, see Early American currency . Continental currency depreciated badly during
9271-426: The discontinuation of all other types of notes (Gold Certificates in 1933, Silver Certificates in 1963, and United States Notes in 1971), U.S. dollar notes have since been issued exclusively as Federal Reserve Notes . The U.S. dollar first emerged as an important international reserve currency in the 1920s, displacing the British pound sterling as it emerged from the First World War relatively unscathed and since
9398-421: The dollar came under the gold standard de jure only after 1900, the bimetallic era was ended de facto when the Coinage Act of 1873 suspended the minting of the standard silver dollar of 412.5 Troy grains = 26.73 g; 0.859 ozt, the only fully legal tender coin that individuals could convert bullion into in unlimited (or Free silver ) quantities, and right at the onset of the silver rush from
9525-401: The earthmoving market has shifted to radials. A belted bias tire starts with two or more bias plies to which stabilizer belts are bonded directly beneath the tread. This construction provides a smoother ride that is similar to the bias tire, while lessening rolling resistance because the belts increase tread stiffness. The design was introduced by Armstrong, while Goodyear made it popular with
9652-421: The elastomer material is a key challenge for reducing fuel consumption in the transportation sector. It is estimated that passenger vehicles consume approximately 5~15% of their fuel to overcome rolling resistance, while the estimate is understood to be higher for heavy trucks. However, there is a trade-off between rolling resistance and wet traction and grip: while low rolling resistance can be achieved by reducing
9779-503: The environment. Moreover, the regular use of tires produces micro-plastic particles that contain these chemicals that both enter the environment and affect human health. The word tire is a short form of attire , from the idea that a wheel with a tire is a dressed wheel. Tyre is the oldest spelling, and both tyre and tire were used during the 15th and 16th centuries. During the 17th and 18th centuries, tire became more common in print. The spelling tyre did not reappear until
9906-597: The fall of 1987, the B.F. Goodrich Company closed several manufacturing operations at the site, and most of the complex remained vacant until February 1988, when B.F. Goodrich announced plans to sell the vacant portions of the complex to the Covington Capital Corporation, a New York developer. The complex is now known as Canal Place. In 1987, its first full year of operation, the new Uniroyal Goodrich Tire Company generated almost US$ 2 billion in sales revenue, with profit of about US$ 35 million. However,
10033-487: The first pneumatic tires. Cyclist Willie Hume demonstrated the supremacy of Dunlop's tires in 1889, winning the tire's first-ever races in Ireland and then England. In Dunlop's tire patent specification dated 31 October 1888, his interest is only in its use in cycles and light vehicles. In September 1890, he was made aware of an earlier development, but the company kept the information to itself. In 1892, Dunlop's patent
10160-436: The global automotive tire market indicate continued growth through 2027. Estimates put the value of worldwide sales volume around $ 126 billion in 2022, it is expected to reach the value of over $ 176 billion by 2027. Production of tires is also experiencing growth. In 2015, the US manufactured almost 170 million tires. Over 2.5 billion tires are manufactured annually, making the tire industry a major consumer of natural rubber. It
10287-419: The grooves, which allow the water from the grooves to escape sideways and mitigate hydroplaning . Different tread designs address a variety of driving conditions. As the ratio of tire tread area to groove area increases, so does tire friction on dry pavement, as seen on Formula One tires , some of which have no grooves. High-performance tires often have smaller void areas to provide more rubber in contact with
10414-408: The interaction of specific tire types with the roadway surface affects roadway noise , a source of noise pollution emanating from moving vehicles. These sound intensities increase with higher vehicle speeds. Tires treads may incorporate a variety of distances between slots ( pitch lengths ) to minimize noise levels at discrete frequencies. Sipes are slits cut across the tire, usually perpendicular to
10541-495: The interplay between the bead's dimensions and the wheel's width significantly influences the vehicle's steering responsiveness and stability, as it helps to maintain the tire’s intended shape and contact with the road. The sidewall is that part of the tire, or bicycle tire , that bridges between the tread and bead. The sidewall is largely rubber but reinforced with fabric or steel cords that provide for tensile strength and flexibility. The sidewall contains air pressure and transmits
10668-397: The latter of which referring to the deceased presidents pictured on most bills. Dollars in general have also been known as bones (e.g. "twenty bones" = $ 20). The newer designs, with portraits displayed in the main body of the obverse (rather than in cameo insets), upon paper color-coded by denomination, are sometimes referred to as bigface notes or Monopoly money . Piastre
10795-466: The listing expanded to 30 stocks in 1928 and U.S. Rubber was dropped. In an effort to increase its share of the automobile tire market in 1931, U.S. Rubber Company bought a substantial portion of the Gillette Safety Tire Company. The company was founded in 1916 by Raymond B. Gillette and its primary manufacturing plant was located in Eau Claire, Wisconsin . The Gillette plant held large contracts with
10922-493: The manufacture of small caliber ammunition and renamed it the Eau Claire Ordnance plant. By December 31, 1943, the need for tires outweighed the need for ammunition. U.S. Rubber repurchased the plant from the government for more than US$ 1 million, and converted it back to synthetic rubber tire production. The company began an expansion and modernization program at the plant that lasted through 1951. When it ended,
11049-526: The merger soon proved to be difficult. In June 1988, B.F. Goodrich sold its 50% stake to a group of investors led by Clayton, Dubilier & Rice for US$ 225 million. At the same time, B.F. Goodrich also received a warrant to purchase indirectly up to 7% of the equity in Uniroyal Goodrich Tire Company. Also in June 1988 as part of the sale deal, the new privately held tire company acquired publicly held debt of $ 415 million. The Uniroyal Goodrich Tire Company offered
11176-401: The modern-day World Bank Group , establishing the infrastructure for conducting international payments and accessing the global capital markets using the U.S. dollar. The monetary policy of the United States is conducted by the Federal Reserve System , which acts as the nation's central bank . It was founded in 1913 under the Federal Reserve Act in order to furnish an elastic currency for
11303-458: The most common applications for solid tires is for material handling equipment (forklifts). Such tires are installed utilizing a hydraulic tire press. Wooden wheels for horse-drawn vehicles usually have a wrought iron tire. This construction was extended to wagons on horse-drawn tramways, rolling on granite setts or cast iron rails . The wheels of some railway engines and older types of rolling stock are fitted with railway tires to prevent
11430-590: The name Uniroyal Tyre Company became Bridgestone Australia Ltd. and was traded on the Australian stock exchange as a majority-owned subsidiary of Japan's tire company. On March 20, 2007, stockholders of Bridgestone Australia Ltd. voted to make the company a wholly owned subsidiary of Bridgestone Corporation of Japan.( TYO : 5108 ) A joint venture, Isochem, Inc., was established in June 1965 together with Martin Marietta Corporation and chaired by
11557-423: The need to replace the entirety of a wheel. The tire, usually made of steel, surrounds the wheel and is primarily held in place by interference fit . Aircraft tires may operate at pressures that exceed 200 pounds per square inch (14 bar ; 1,400 kPa ). Some aircraft tires are inflated with nitrogen to "eliminate the possibility of a chemical reaction between atmospheric oxygen and volatile gases from
11684-517: The numerical amount, is used for the U.S. dollar (as well as for many other currencies). The sign was perhaps the result of a late 18th-century evolution of the scribal abbreviation p for the peso , the common name for the Spanish dollars that were in wide circulation in the New World from the 16th to the 19th centuries. The p and the s eventually came to be written over each other giving rise to $ . Another popular explanation
11811-561: The other. This theory, popularized by novelist Ayn Rand in Atlas Shrugged , does not consider the fact that the symbol was already in use before the formation of the United States. The U.S. dollar was introduced at par with the Spanish-American silver dollar (or Spanish peso , Spanish milled dollar , eight-real coin , piece-of-eight ). The latter was produced from the rich silver mine output of Spanish America ,
11938-613: The proposed purchase of the company by Michelin Group. By May 1990, Michelin Group completed its purchase of Uniroyal Goodrich Tire Company from Clayton & Dubilier of New York. The deal was valued at about US$ 1.5 billion. B.F. Goodrich surrendered its 7% warrant to Michelin Group for US$ 32.5 million. With the sale, B.F. Goodrich then exited the tire business and became the Goodrich Corporation to focus on building its chemicals and aerospace businesses through reinvestment and acquisitions. Michelin Group continued to operate
12065-501: The purchase of Canadian annuity pension obligations, and also a charge of over US$ 16 million from the June 1988 recapitalization resulting from the selloff by B.F. Goodrich. Also in 1988, Michelin Group, a subsidiary of the French tire company Michelin et Cie ( Euronext Paris : ML ) proposed to acquire the Uniroyal Goodrich Tire Company, and began acquiring a stake. In 1989, Uniroyal Goodrich Tire Company posted sales revenue that
12192-402: The range of 30 to 40 degrees from the direction of travel. Successive plies are laid at opposing angles, forming a crisscross pattern to which the tread is applied. Such a design is resistant to sidewall deformation and punctures (and to punctures’ expansion, or “torque splitting”) and therefore durable in severe use. Since the tread and sidewalls share their casing plies, the tire body flexes as
12319-639: The range of 550 to 1,100 pounds (250 to 500 kg) on the drive wheel. Light-to-medium duty trucks and vans carry loads in the range of 1,100 to 3,300 pounds (500 to 1,500 kg) on the drive wheel. They are differentiated by speed rating for different vehicles, including (starting from the lowest speed to the highest): winter tires, light truck tires, entry-level car tires, sedans and vans, sport sedans, and high-performance cars. Apart from road tires, there are special categories: Other types of light-duty automotive tires include run-flat tires and race car tires: Heavy-duty tires for large trucks and buses come in
12446-530: The ratio of the two monomers in the styrene-butadiene copolymer is considered key in determining the glass transition temperature of the material, which is correlated to its grip and resistance properties. Non-exhaust emissions of particulate matter, generated by the wearing down of brakes, clutches, tires, and road surfaces, as well as by the suspension of road dust, constitute a little-known but rising share of emissions from road traffic and significantly harm public health. Associated components of tires include
12573-686: The records document numerous activities including: the collective bargaining activities of Local 19 of the United Rubber Workers of America, the impact on plant operations by the introduction of synthetic rubber production, and work modernization after World War II. The Department is also home to the Uniroyal Collection , which includes news clippings and photos, and well as the United Rubber, Cork, Linoleum, and Plastic Workers of America. Local 19: Records , which reflect
12700-487: The rise in the price of silver during the California Gold Rush and the disappearance of circulating silver coins, the Coinage Act of 1853 reduced the standard for silver coins less than $ 1 from 412.5 grains to 384 grains (24.9 g), 90% silver per 100 cents (slightly revised to 25.0 g, 90% silver in 1873). The Act also limited the free silver right of individuals to convert bullion into only one coin,
12827-435: The road for higher traction, but may be compounded with softer rubber that provides better traction, but wears quickly. Mud and snow (M&S) tires employ larger and deeper slots to engage mud and snow. Snow tires have still larger and deeper slots that compact snow and create shear strength within the compacted snow to improve braking and cornering performance. Wear bars (or wear indicators) are raised features located at
12954-572: The section as " legal tender " in payment of debts. The Sacagawea dollar is one example of the copper alloy dollar, in contrast to the American Silver Eagle which is pure silver . Section 5112 also provides for the minting and issuance of other coins, which have values ranging from one cent ( U.S. Penny ) to 100 dollars. These other coins are more fully described in Coins of the United States dollar . Article I, Section 9 of
13081-552: The silver dollar at the rate of 1 silver dollar to 1000 continental dollars. This resulted in the clause "No state shall... make anything but gold and silver coin a tender in payment of debts" being written into the United States Constitution article 1, section 10 . From implementation of the 1792 Mint Act to the 1900 implementation of the gold standard , the dollar was on a bimetallic silver-and-gold standard, defined as either 371.25 grains (24.056 g) of fine silver or 24.75 grains of fine gold (gold-silver ratio 15). Subsequent to
13208-477: The silver dollar of 412.5 grains; smaller coins of lower standard can only be produced by the United States Mint using its own bullion. Summary and links to coins issued in the 19th century: In order to finance the War of 1812 , Congress authorized the issuance of Treasury Notes , interest-bearing short-term debt that could be used to pay public dues. While they were intended to serve as debt, they did function "to
13335-400: The tire inner liner producing a tire explosion". Pneumatic tires are manufactured in about 450 tire factories around the world. Tire production starts with bulk raw materials such as rubber, carbon black, and chemicals and produces numerous specialized components that are assembled and cured. Many kinds of rubber are used, the most common being styrene-butadiene copolymer . Forecasts for
13462-461: The torque applied by the drive axle to the tread to create traction but supports little of the weight of the vehicle, as is clear from the total collapse of the tire when punctured. Sidewalls are molded with manufacturer-specific detail, government-mandated warning labels, and other consumer information. Sidewall may also have sometimes decorative ornamentation that includes whitewall or red-line inserts as well as tire lettering . The shoulder
13589-507: The tread from bead to bead—so that the cords are laid at approximately right angles to the centerline of the tread, and parallel to one another—as well as stabilizer belts directly beneath the tread. The plies are generally made of nylon, polyester, or steel, and the belts of steel, fiberglass, or Kevlar . The tire’s footprint, wider than a bias tire’s, and flexible sidewalls provide a better grip in turns, and its circumferential belts stabilize it. The advantages of this construction over that of
13716-414: The value of an eagle at 10 dollars, and the dollar at 1 ⁄ 10 eagle. It called for silver coins in denominations of 1, 1 ⁄ 2 , 1 ⁄ 4 , 1 ⁄ 10 , and 1 ⁄ 20 dollar, as well as gold coins in denominations of 1, 1 ⁄ 2 and 1 ⁄ 4 eagle. The value of gold or silver contained in the dollar was then converted into relative value in the economy for
13843-590: The vehicle inoperable to blowouts , where tires explode during operation and possibly damage vehicles and injure people. The manufacture of tires is often highly regulated for this reason. Because of the widespread use of tires for motor vehicles, tire waste is a substantial portion of global waste. There is a need for tire recycling through mechanical recycling and reuse, such as for crumb rubber and other tire-derived aggregate , and pyrolysis for chemical reuse, such as for tire-derived fuel . If not recycled properly or burned , waste tires release toxic chemicals into
13970-468: The viscoelastic properties of the rubber compound (low tangent (δ) ), it comes at the cost of wet traction and grip, which requires hysteresis and energy dissipation (high tangent (δ)). A low tangent (δ) value at 60 °C is used as an indicator of low rolling resistance, while a high tangent (δ) value at 0 °C is used as an indicator of high wet traction. Designing an elastomer material that can achieve both high wet traction and low rolling resistance
14097-423: The war, giving rise to the famous phrase "not worth a continental". A primary problem was that monetary policy was not coordinated between Congress and the states, which continued to issue bills of credit. Additionally, neither Congress nor the governments of the several states had the will or the means to retire the bills from circulation through taxation or the sale of bonds. The currency was ultimately replaced by
14224-456: The wheel on which it is mounted, the valve stem through which air is introduced, and, for some tires, an inner tube that provides the airtight means for maintaining tire pressure. United States dollar The United States dollar ( symbol : $ ; currency code : USD ; also abbreviated US$ to distinguish it from other dollar-denominated currencies ; referred to as the dollar , U.S. dollar , American dollar , or colloquially buck )
14351-821: The work of the labour union that represented the employees at the Uniroyal Goodrich Tire Company's Eau Claire plant. Records and photographs pertaining to the Rubber Machinery Shops of the Dominion Tire Co. Ltd, in Kitchener, Ontario are housed in Special Collections & Archives at the University of Waterloo Library . Included are photographs, newsletters, equipment lists, press releases and news clippings regarding employees and company operations. United States Rubber Company records at Baker Library Special Collections, Harvard Business School. Tire A tire ( British spelling : tyre )
14478-488: The world's foremost reserve currency for international trade to this day. The Bretton Woods Agreement of 1944 also defined the post-World War II monetary order and relations among modern-day independent states , by setting up a system of rules, institutions, and procedures to regulate the international monetary system . The agreement founded the International Monetary Fund and other institutions of
14605-697: Was declared invalid because of the prior art by forgotten fellow Scot Robert William Thomson of London (patents London 1845, France 1846, USA 1847). However, Dunlop is credited with "realizing rubber could withstand the wear and tear of being a tire while retaining its resilience". John Boyd Dunlop and Harvey du Cros worked through the ensuing considerable difficulties. They employed inventor Charles Kingston Welch and acquired other rights and patents, which allowed them some limited protection of their Pneumatic Tyre business's position. Pneumatic Tyre would become Dunlop Rubber and Dunlop Tyres . The development of this technology hinged on myriad engineering advances, including
14732-528: Was estimated that for 2019 onwards, at least 3 billion tires would be sold globally every year. However, other estimates put worldwide tire production of 2,268 million in 2021 and is predicted to reach 2,665 million tires by 2027. As of 2011, the top three tire manufacturing companies by revenue were Bridgestone (manufacturing 190 million tires), Michelin (184 million), Goodyear (181 million); they were followed by Continental , and Pirelli . The Lego group produced over 318 million toy tires in 2011 and
14859-412: Was firmly upheld, which the U.S. later had to compete with using a heavier 378.0 grains (24.49 g) Trade dollar coin . The early currency of the United States did not exhibit faces of presidents, as is the custom now; although today, by law, only the portrait of a deceased individual may appear on United States currency. In fact, the newly formed government was against having portraits of leaders on
14986-465: Was later shortened to the German taler , a word that eventually found its way into many languages, including: tolar ( Czech , Slovak and Slovenian ); daler ( Danish and Swedish ); talar ( Polish ); dalar and daler ( Norwegian ); daler or daalder ( Dutch ); talari ( Ethiopian ); tallér ( Hungarian ); tallero ( Italian ); دولار ( Arabic ); and dollar ( English ). Though
15113-410: Was made in 1888 on May Street, Belfast , by Scots-born John Boyd Dunlop , owner of one of Ireland's most prosperous veterinary practices. It was an effort to prevent the headaches of his 10-year-old son Johnnie while riding his tricycle on rough pavements. His doctor, John, later Sir John Fagan, had prescribed cycling as an exercise for the boy and was a regular visitor. Fagan participated in designing
15240-670: Was merged with that of B.F. Goodrich Company ( NYSE : GR ), a S&P 500 -listed tire and rubber fabricator that made high-performance replacement tires. The joint venture partnership became the Uniroyal Goodrich Tire Company and B.F. Goodrich Company held a 50% stake in the new tire company. The new Uniroyal Goodrich Tire Company established its headquarters at the former B. F. Goodrich corporate headquarters, within its 27-building downtown complex in Akron, Ohio , which contained Goodrich's original factory. In
15367-748: Was minted in Mexico City , Potosí (Bolivia), Lima (Peru), and elsewhere, and was in wide circulation throughout the Americas, Asia, and Europe from the 16th to the 19th centuries. The minting of machine-milled Spanish dollars since 1732 boosted its worldwide reputation as a trade coin and positioned it to be the model for the new currency of the United States . Even after the United States Mint commenced issuing coins in 1792, locally minted dollars and cents were less abundant in circulation than Spanish American pesos and reales ; hence Spanish, Mexican, and American dollars all remained legal tender in
15494-561: Was one of the original 12 stocks in the Dow Jones Industrial Average , and became Uniroyal, Inc., as part of creating a unified brand for its products and subsidiaries in 1961. The company's long-lived advertisement slogan was " United States Tires are Good Tires ." One of Uniroyal's best-known tires is the Tiger Paw introduced in the 1960s and included as original equipment for that decade's muscle cars such as
15621-461: Was originally defined under a bimetallic standard of 371.25 grains (24.057 g) (0.7734375 troy ounces) fine silver or, from 1834 , 23.22 grains (1.505 g) fine gold, or $ 20.67 per troy ounce . The Gold Standard Act of 1900 linked the dollar solely to gold. From 1934, its equivalence to gold was revised to $ 35 per troy ounce . In 1971 all links to gold were repealed. The U.S. dollar became an important international reserve currency after
15748-549: Was recognized by Guinness World Records as having the highest annual production of tires by any manufacturer. A tire comprises several components: the tread, bead, sidewall, shoulder, and ply. The tread is the part of the tire that comes in contact with the road surface. The portion that is in contact with the road at a given instant in time is the contact patch . The tread is a thick rubber, or rubber/composite compound formulated to provide an appropriate level of traction that does not wear away too quickly. The tread pattern
15875-514: Was renamed Uniroyal Ltd., along with all other company holdings, and in 1981, it was sold to Waterville Ltd. In 1939, Mark Lodge and Harold Hill established S. A. Rubber Mills Pty. Ltd. in Edwardstown, South Australia . The company grew until 1963 when U.S. Rubber purchased 25% of the business. By 1980, Uniroyal owned sixty percent of what was now Uniroyal Brazil which it sold to Bridgestone . The subsidiary which operated Australian plants under
16002-609: Was the original French word for the U.S. dollar, used for example in the French text of the Louisiana Purchase . Though the U.S. dollar is called dollar in Modern French, the term piastre is still used among the speakers of Cajun French and New England French , as well as speakers in Haiti and other French-speaking Caribbean islands. Nicknames specific to denomination: The symbol $ , usually written before
16129-425: Was up to almost US$ 2.3 billion, but profit was down by 90% to just over US$ 1 million, but included over US$ 9 million extraordinary credit that year for the ongoing Canadian annuity pension obligation purchase. 1989 year-end net income results were also hurt by increased interest expense of nearly US$ 31 million on the June 1988 debt recapitalization, and a US$ 29 million charge for deferred employee compensation related to
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