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Hertz Bankrupt #5436392 05/23/20 05:25 AM
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madRiver Offline OP
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Sad part of times of pushing weaker business over the cliff.

Expecting the used market to get influenced with mass dump of rentals.

Re: Hertz Bankrupt [Re: madRiver] #5436395 05/23/20 05:29 AM
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GMguy84 Offline
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It'll bring used car prices down for sure, But at the price of many folks are gonna be out of work


My mom worked for one of the call center many years ago, I remember she got GREAT deals on rentals lol


Dave


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Re: Hertz Bankrupt [Re: madRiver] #5436397 05/23/20 05:31 AM
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Mr Nice Offline
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Lots of businesses will soon fail..... 50M+ folks out of work.

Just goes to show everyone how fragile our economy is and the crazy amount of debt companies have.


Re: Hertz Bankrupt [Re: madRiver] #5436398 05/23/20 05:34 AM
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Astro14 Offline
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I’ve been Hertz Gold for over 20 years. Several hundred rentals over that time. I was on a first name basis with the counter folks in some locations.

They’ve always given me great service, and good cars.

I wish them the best. Employees always get hosed in bankruptcy.


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Re: Hertz Bankrupt [Re: madRiver] #5436404 05/23/20 05:41 AM
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Shannow Offline
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If you are a medical professional, and put a patient into an induced coma, then you have a legal obligation to manage them through that period and try to bring them out the end.

The world is currently in an induced coma, and the people who initiated it have a duty of obligation to carry them through that period.


If it's the truth....it can handle the pressure !!!
Re: Hertz Bankrupt [Re: madRiver] #5436410 05/23/20 05:59 AM
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demarpaint Offline
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This is just the beginning, there'll be plenty more to follow. Sad times.


God Bless Our Troops

Re: Hertz Bankrupt [Re: madRiver] #5436413 05/23/20 06:07 AM
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pbm Offline
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I agree that the used car market should be affected but I'm wondering if Hertz will be selling the cars or will
they be taken from them as part of the bankruptcy? I'm sure Hertz didn't pay cash for all their cars.


'Journalism is Dead'
Re: Hertz Bankrupt [Re: madRiver] #5436425 05/23/20 06:27 AM
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gman2304 Offline
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Chapter 11. Hopefully they’ll be able to recover.

Re: Hertz Bankrupt [Re: madRiver] #5436448 05/23/20 06:57 AM
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philipp10 Offline
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"Expecting the used market to get influenced with mass dump of rentals"

Good point. It didn't previously occur to me but I would expect pretty much EVERY car rental company to start dumping their stock of cars just to raise cash to try and survive. I'm going to be looking for a car soon so this may factor in my decision.

Re: Hertz Bankrupt [Re: gman2304] #5436453 05/23/20 07:00 AM
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gathermewool Offline
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Originally Posted by gman2304
Chapter 11. Hopefully they’ll be able to recover.


Right, doesn't that mean that they're NOT going out of business just yet; only reorganizing and negotiating their debt?

Sears filed CH 11 over a year ago (I'm not even sure if it was the first time) and they're still breathing (death rattle now, by all indications)


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Re: Hertz Bankrupt [Re: madRiver] #5436454 05/23/20 07:02 AM
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Trav Offline
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Sad times indeed.


ASE L1, Master. Deutsch Meisterbrief.
Re: Hertz Bankrupt [Re: Astro14] #5436466 05/23/20 07:14 AM
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53' Stude Offline
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Originally Posted by Astro14
I’ve been Hertz Gold for over 20 years. Several hundred rentals over that time. I was on a first name basis with the counter folks in some locations.

They’ve always given me great service, and good cars.

I wish them the best. Employees always get hosed in bankruptcy.


Speaking as a technician that works next door to Hertz, 3 great friends that are auto techs for Hertz just got severances yesterday. One had been there long as me or 13 years frown

Hertz currrently is massively buying ram sprinter vans and leasing them to Amazon. Tons of their “buy back vehicles” like Ford, GM and Chrysler are being hauled away. Still seeing least 25+ tractor trailers a day loading up Hertz vehicles.

I put the theee techs onto shop where I get my car inspected and I put in good words for them. Hope they get hired

Last edited by 53' Stude; 05/23/20 07:15 AM.

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Re: Hertz Bankrupt [Re: 53' Stude] #5436473 05/23/20 07:22 AM
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4WD Online Confused
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Hertz was number 1 and bragged on that for years. “Next door” followed the Walmart recipe of putting stores all over and that meant small towns too. That’s all we have and all I rent from - and the dealerships keep them pretty busy instead of doing loaner cars they could be selling … hand them a rent car/truck … all good.

Re: Hertz Bankrupt [Re: Shannow] #5436479 05/23/20 07:27 AM
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ABN_CBT_ENGR Offline
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Originally Posted by Shannow
The world is currently in an induced coma, and the people who initiated it have a duty of obligation to carry them through that period.

This is exactly the outcome those who initiated it were counting on so don't expect any help whatsoever. Their duty and obligation is to their agenda- not those who are sacrificed on the path to achieving it.

Re: Hertz Bankrupt [Re: madRiver] #5436493 05/23/20 07:39 AM
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ARCOgraphite Offline
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Standard accounting practice to minimise loss in a downturn and allow lean restructuring.
Nothing to be "sad" about other than the creditors being hosed.


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