Gastonia, North Carolina • Bowling Green, Kentucky • Hopewell, Virginia
Settlement Reached
Textile Students
Eligible For Foundation
Merit Awards
The North Carolina Textile
Foundation and the School of Tex
tiles have established an outstan
ding new scholarship program for
textile majors.
Starting in the 1981 school year,
four Textile Foundation Merit
Awards have been given annually
to entering freshmen.
These scholarships are funded at
$3,000 per year, plus tuition dif
ferential for out-of-state residents,
are renewable, and constitute an
overall award of $12,000. Textile
Foundation Merit Awards are
made possible by the textile and
allied industries of North and
South Carolina through the N.C.
Textile Foundation. They are the
capstone to an already established
$150,000 scholarship program at
the School of Textiles, which in
cludes 43 Prestige Scholarships
valued at up to $1,500 each.
Eligibility
Students must apply to the
School of Textiles and be entering
freshmen for the 1983-1984
Five additional Quality & Pro
ductivity Teams will be im
plemented by May 1. New teams
will be formed on second and third
shifts in the Weaving and Twisting
Departments and on the first shift
in the Maintenance Department.
Leadership training will be giving
by Johnette Mitchell to the new
Quality & Productivity Team
Leaders in February.
The two pilot teams have
adopted nicknames-the First Shift
Weaving Team has named
themselves ‘The Shuttle Masters,”
and the First Shift Twisting Team
has named themselves, ‘The Beam
Masters.”
‘The Shuttle Masters” have
two new members, Keith Cochran
and Buster Stiles. Members have
competed their training and are ac
tively working on several projects.
One of their projects is identified as
“Not Enough Spare Spools Left on
the Creels.”
academic year. Generally, reci
pients will be in the top 10 percent
of their high school graduating
class with SAT scores of over 1100,
but leadership potential as
demonstrated through extracur
ricular and community activities
will be an important factor in the
selection process.
Application Procedures
If interested, you should request
an NCSU Merit Scholars Applica
tion Packet as soon as possible
which contains an application as
well as the required supporting
documents - three recommenda
tion forms, a high school transcript
request form and other informa
tion. Request your application
packet as soon as possible from:
Textile Foundation Merit Scholars
Program, School of Textiles, North
Carolina State University, P.O.
Box 5006, Raleigh, North Carolina
27650.
The completed application and
. supporting information must be
returned by Feb. 28, 1983.
‘The Beams Masters” are also
completing their training. One of
their projects is identified as
“Respooler Clocks Being
Covered.” Denise Glenn, team
member, discussed this problem
with the respoolers on all shifts.
During the month of December,
David Hirsch, Purchasing
Manager, attended a meeting of
‘The Beam Masters” and answered
questions presented by team
members regarding the procedures
for ordering parts and supplies.
If you would like someone to
listen and try your ideas, volunteer
as a Quality & Productivity Team
member. As a member, you will
have the opportunity to identify
problems and suggest solutions.
For an application form, see your
supervisor or contact Gail Cook,
Quality-Productivity Team Coor
dinator.
We look forward with great an
ticipation to increasing the number
of teams and team members.
Firestone has agreed to settle
a class action suit filed in 1978 on
behalf of all persons who purchas
ed Firestone stock between Dec. 1,
1975 and July 24, 1978. The suit
arose out of the ‘500” recall, and
although the company believed its
defenses are meritorious, the suit
was settled to avoid the substantial
continuous legal expenses and the
involvement of management per
sonnel.
In general, all persons, including
Firestone employees who purchas
ed shares during the period either
as individuals or through the Stock
Purchase and Savings Plan, may be
entitled to share in a fund set up by
Firestone as part of the settlement.
The amount Firestone has
agreed to contribute to the settle
ment has already been agreed upon
and will not be changed by the
number of claims filed. Your deci
sion to file a claim will in no way
be against the company’s interests.
Each decision is solely the
employee’s own.
11 Percent
Increase
For Tires
The truck tire replacement
market will demand more new tires
in 1983 than it did in 1982,
Firestone forecasters say.
Shipments are expected to increase
by 11 percent this year.
“We saw indications of im
provements in the truck tire
replacement market late in 1982
and we are optimistic that this de
mand will accelerate as 1983 pro
gresses,’ says William Hanlon,
marketing manager of heavy-duty
truck tires.
“We’re anticipating that the in
dustry will increase its shipments
of replacement tires for medium
and heavy-duty trucks from 10.2
million units in 1982 to some 11.2
million tires in 1983,” he adds.
Hanlon indicated that the de
mand for radial ply tires in the
truck tire replacement market will
increase in 1983. He forecast that
half the replacement tires for
medium and heavy-duty trucks will
be radials, compared to 45 percent
last year.
A notice describing the settle
ment and attaching a proof of
claim form was mailed by the clerk
of courts on Jan. 5, 1983 to those
identifiable as having potential
claims. If you purchased shares of
Firestone stock during the period
between Dec. 1, 1975 and July 24,
1978, or acquired shares through
the Stock Purchase and Savings
Plan and did not receive this mail
ing from the court, you may obtain
copies of the notice and the proof
of claim form by calling Denise
Pesich at (216) 379-7589. Claims
must be submitted by April 5,
1983.
If you purchased stock during
the period, you are entitled to sub
mit a claim even if you subsequent
ly sold your stock or if you
previously mailed a form ask
ing to be excluded from the
class action. The amount of
money, if any, that you receive as
part of the settlement will be deter
mined by the formula described in
the notice. The formula was
Last year. Firestone gave
more than $2 million to educa
tional and charitable organizations
and to aid academic and research
activities through the company’s
nationwide corporate citizenship
program.
More than $1.8 million was
donated by the company and the
Firestone Trust Fund to educa
tional institutions, health and
welfare agencies, civic and com
munity organizations, culture and
During December, 1982,
Firestone common stock was pur
chased at an average price of
$17.14 per share for accounts of
employees participating in the
Stock Purchase and Savings Plan,
Currently there are 5,306
employees enrolled.
Company stockholders will be
asked to re-elect nine men to the
board of directors at the annual
meeting set for Tuesday, Feb. 22,
established by the plaintiffs and ap
proved by the court. The ad
ministration of the settlement is be
ing handled solely by the plaintiffs.
To assist employees who may
want to file claims and who pur
chased their shares through the
Stock Purchase and Savings Plan,
Firestone will send information to
all who participated during the
relevant period indicating the
number of shares they purchased
during that time and the average
price of their purchases. The infor
mation will be available in the next
few weeks. Plaintiffs have agreed
that they will accept this informa
tion as proof of purchases through
the stock plan.
If you have received the court’s
notice, and have questions concer
ning the procedures for filing a
claim on stock purchased through
the Stock Purchase and Savings
Plan, it is recommended that you
do not contact the company until
after you have received this add-
tional information.
arts programs and scientific and
literary groups. In addition, more
than $300,000 was allocated for
college scholarship aid for sons and
daughters of employees.
Educational institutions received
gifts totaling $770,000 with
Firestone contributing about 34
percent of that amount of match
employees’ gifts to colleges.
Firestone donations to United
Way drives in locations across the
country were about $435,000.
beginning at 9:30 a.m. at E.J.
Thomas Hall in Akron. They are
Leon R. Brodeur, Kimball C.
Firestone, Richard Laster, lohn
J. Nevin, Donald S. Perkins.
William G. Phillips, Paul A.
Vatter. M. Brock Weir and J.
Tylee Wilson. Not seeking reelec
tion are Leonard K. Firestone,
Victor H. Brown, Herbert E.
Markley and David R. Waters.
Quality And
Productivity Teams
Corporation
Citizenship Program
Firestone Stock