Obama, Goodyear, Cooper, and China (GT, CTB)

Posted in General 
September 14th, 2009

The Obama Adminstration has levied huge import tariffs on imported Chinese tires claiming that they are exported to the US in a manner which damages the American tire industry unfairly.  As we asked in the UNUSUAL SUSPECTS this weekend, “Did President Obama just say, “Blue Horseshoe loves Goodyear?”…. Goodyear Tire & Rubber Co. (NYSE: GT) is up over 6% after the open and at 9:34 AM EST we have seen 495,000 shares trade hands.  Elsewhere we see that Cooper Tire & Rubber Co. (NYSE: CTB) is up over 8% at $15.80 at the same time, but that is on under 200,000 shares of stock.  -JON OGG

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