Thats actually normal. The material inside the wheel is deteriorating and unfortunately there is no fix. This is what your wheel will eventually look like:
[This message has been edited by IMSA GT (edited 08-30-2014).]
As said, it's an aging problem, along with exposure to sun light, chemicals, etc. You might try posting a "Wanted" notice on here for re-conditioned "The Fiero Store" Steering Wheel. They did have them on the site for a while, but I just checked, and appears they don't do that anymore. You are going to have somewhat the same problem buying a used wheel, as you don't know what's it has been exposed to.
You can recover it yourself or Dallas Custom will do it for you. Many people on here swear by them. Here is the page with the Fiero wheel on it: http://www.dallassteeringwheel.com/sw8.htm
So that's what happened to those steering wheels. Why not just recover it myself? Shouldn't be anything illegal in that, as long as the code enforcement officer doesn't catch me.
I was going to have the leather reconditioned, anyway.
The problem is finding a core material to go over steel wire, that is the right size, and hold up. Less of a hazel to buy a nice aftermarket wheel, unless you are trying to keep car "stock".
Ya, if you leave the original core and just recover it yourself, you dont solve the goo problem, It will still come out on the new cover. Good time to switch to aftermarket wheel unless you just want to keep it stock. I used Momos myself.
They do AMAZING work... But unfortunately they are a bit pricey for some Fiero folks. Something like $350~$400 to recover the wheel if I recall. I personally went with a 96 Firebird wheel. More modern looking, a tiny bit bigger around Easier to turn), and larger more padded wheel for a nicer feel IMHO.
[This message has been edited by JohnWPB (edited 08-31-2014).]
I decided to recover my wheel myself when the dreaded brown goo showed up. After a little practice and trial and error I can say that I'm really happy with how it turned out.
------------------ "The Twins" '87 GT 3.4 pushrod daily driver '88 GT 3.4 DOHC swap in progress