Downs to The Goodyear Tire & Rubber Co. On Christmas Eve, Standard & Poor's Ratings Services lowered its rating of Goodyear's debt from BB+ to BB-. The two-notch drop will affect the rubber company's ability to borrow money under its current financing arrangements, many of which require a minimum S&P credit rating. But, while officials say the move creates further challenges for the company's plan to revitalize its sagging business, it won't keep it from accessing its current financing arrangements.
Ups to the Hudson Chamber of Commerce. The chamber's idea to develop a local shopping card, the Hudson City Card, is an innovative way to tie together a region's business community and encourage people to spend their dollars locally. At year's end, the card was good for shopping or dining at approximately 35 Hudson-based locations. Business groups in larger cities, such as Akron, Canton or Cleveland, should consider Hudson's idea as a way to spark a greater sense of community and increase local spending.