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On this day in engineering history, Harvey S. Firestone founded the Firestone Tire a nd Rubber Company, a pioneer in the mass production of tires. Originally, Harvey Firestone planned to supply pneumatic tires for common vehicles of the era, namely horse-drawn wagons and buggies; however, he soon saw the potential of the automobile market.
Although Harvey Firestone relied upon other companies to manufacture the rubber for his first Firestone tires, in its first year of operation, the Firestone Tire and Rubber Company grossed more than $100,000 (USD) in profit. In 1903, Harvey Firestone's business began to manufacture its own rubber. A year later, the Akron, Ohio company proceeded to develop pneumatic tires for automobiles. In 1906, automaker Henry Ford placed his first order for tires from Firestone.
 Because of the increased demand for tires from the growing automobile market, Harvey Firestone now hired additional workers, raising the number of employees from one dozen to 130. By the end of 1906, Firestone Tire and Rubber Company had produced more than 28,000 tires and sold more than $1 million (USD) worth of tires. By 1910, Harvey Firestone's company had manufactured more than 1 million tires.
Early in its history, Firestone Tire and Rubber Company became involved in the production of tires for automobile racing. On May 30, 1911, the first race car to win the Indianapolis 500 used Firestone tires. Then, between 1920 and 1966, every car that won this race won on Firestone tires. In total, cars driven on Firestone tires would go on to win more than 50 checkered flags.
Harvey Firestone's additional business ventures included automotive service stations, where customers could purchase tires and other items. In 1988, the Firestone Tire and Rubber Company was purchased by the Bridgestone Corporation.
Resources:
http://www.ohiohistorycentral.org/entry.php?rec=891
http://bridgestone-firestone.ca/eng/history/default.asp
http://en.wikipedia.org/wiki/Firestone_Tire_and_Rubber_Company
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