Titan CEO Maurice Taylor on a Failed French Factory Deal

About four years ago, Goodyear announced it was going to close its passenger car and farm tire plant in Amiens, France. It solicited companies that would be interested in acquiring the tire side. Needless to say, nobody showed up except yours truly, Titan. Titan is a collection of formerly closed factories, bankrupt companies, and companies losing millions. We make the steel wheel that the tire goes on and we also make tires.

We worked with Goodyear for about a year on a deal, but under French law the unions had to approve it first. There were 10 unions at this factory; the largest was the communist group, which was led by a Michael-something but who I called Spike because his hair was spiked way up high. We flew over and met with about 30 people there. I assured the unions we wouldn’t cut wages but told them we were going to produce more. I said, “We expect workers to come in for seven hours a day. You’ll get paid for your lunch hour and break, but I’ve noticed that currently you work about three good hours in the day and the rest of the time you remind me of a beauty parlor with all your chit-chat and milling around.” Well, Spike got up and said, “You do not understand—that is the French way!” I proceeded to tell him that the French way, my friend, means you’re going to lose your job. And we will not be taking over this factory. So Goodyear announced the total closing of the factory, and all those people lost their jobs.