Pentagon salutes Goodyear
Goodyear Tire & Rubber Co. received the 2016 Secretary of Defense Employer Support Freedom Award Friday in a ceremony at the Pentagon.
The Freedom Award, which is the nation’s highest honor given to employers for exceptional support of Guard and Reserve employees, was given to 15 companies out of more than 2,400 nominations.
Akron-based Goodyear is the first tire and rubber industry manufacturer to receive the award. The company was recognized based on its military support that included:
•?Hiring 1,000 veterans, Guard members and reservists from 2011-2014 and renewed that commitment in 2015.
•?Raising more than $6 million the last six years through the annual “Support Our Troops” campaign
•?Fostering a culture of support for veterans, reservists and guardsmen and women in the workplace.
Peek at new iPhone awaited
Apple is expected to show off a new iPhone next week when the company holds its fall product launch in San Francisco.
The tech giant announced the date for the Sept. 7 launch by sending out invitations to technology journalists and industry analysts on Monday.
Apple didn’t provide any details, in keeping with its usual practice, but it traditionally announces one or two new iPhone models at its annual September event. Apple may also show new models or features for other products like the Apple Watch or Macbook computer.
The Cupertino, Calif., company sold more than 214 million iPhones over the last 12 months. But sales are down from a year ago, and analysts will be watching closely to see what changes Apple has made in the newest models.
Wave of settlement sign-ups
About 210,000 owners of Volkswagens with 2-liter diesel engines that cheat on emissions tests have registered to settle with the company under the terms of a June court agreement.
The figure — about 44 percent of eligible owners — was revealed in a federal court motion by class action attorneys seeking final approval of the settlement involving 475,000 owners. It says only 235 have asked to stay out of the settlement and pursue legal action on their own. Another 110 objections to the settlement were filed.
U.S. District Court Judge Charles Breyer has given the $15 billion settlement preliminary approval, with a final decision expected Oct. 18.
Consumer spending grows
Although the pace of growth slowed, consumer spending posted its fourth straight monthly increase in July, a sign that the economy is poised for a rebound in the second-half of the year.
The Commerce Department reported Monday that personal consumption expenditures were up 0.3 percent last month, a solid figure that was in line with economists’ expectations.
The spending increase came as incomes posted a strong 0.4 percent gain in July, the best since April.
With incomes rising at a faster pace than spending, consumers tucked away more money last month. The share of disposable income saved increased 0.2 percentage point to 5.7 percent. Consumer spending accounts for about two-thirds of U.S. economic activity and has been showing solid gains after a weak winter plagued by concerns about global growth.
Fitbit adds motivational tool
Fitbit wants to help you exercise more by making you think you’re hiking famous trails instead of strolling around your neighborhood.
The new motivational feature, called Adventures, was being made available to all Fitbit users through a free app starting Monday.
The feature tracks the distance you’ve walked or run and maps it against actual trails, starting with three at Yosemite National Park in California. The app will unlock badge-like images of trail landmarks — say, a scenic waterfall at mile 5 — as you progress.
Compiled from staff and wire reports.