Hertz Bankrupt

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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.

Chapter 11 is like an induced coma.
 
I may be wrong, but usually what happens is the owners and investors lose everything, but the brand name is worth a lot , so an investment group (probably some pension fund), will purchase the assets, sell off some cars, close the low volume outlets, and get going under the same Hertz name.
 
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Originally Posted by Kruse
...or this is just a way for Hertz to wipe off debt off their books, including pension costs.
I know car rental is way down, but I suspect Hertz will be back and they now have an advantage over their competitors.

You may be right. We've seen before where companies use bankruptcy as a business plan. They later come back with the same, and sometimes incompetent, people running the show.
 
Remember all the executives at Toys R Us getting big bonuses before they closed their doors ?

I have a feeling at a couple of big companies about to permanently go under.... there will be executives emptying the remaining company coffers before it's too late.
 
I told my business travel agent 5 years ago to never book me with Hertz. They're the worst. Not surprised they went bankrupt with their horrible service. There a lots of other car rental companies that do it better.
 
Originally Posted by 4WD
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...

Around here, it's Enterprise that has locations all over the place. You can run across an Enterprise location in the most random places too.
 
Originally Posted by 4WD
Enterprise

Yup, Enterprise has the largest fleet period. Hertz has by far the smallest fleet. Enterprise does have rental locations all over and for good reason. Enterprise is also NOT publicly traded for a darn good reason.
 
Hertz also owns Thrifty and Dollar (maybe more) as well as Donlen a fleet management company.

Be interesting to see how those go...
 
Originally Posted by edwardh1
Originally Posted by 4WD
Enterprise


not


At least Adam got it …
 
Originally Posted by Kruse
Decades ago, Avis had the saying "We're #2, we try harder."
Either Avis is the new #1, or this is just a way for Hertz to wipe off debt off their books, including pension costs.
I know car rental is way down, but I suspect Hertz will be back and they now have an advantage over their competitors.

Hertz is half the size of Enterprise and twice the size of Avis. At least in HQ St Louis Enterprisre got a lot more for used cars than the other two. Hope it works out for Hertz. We don't need an Enterprise monopoly.
 
csandste: dunno where you're going with that "statement" but I don't think it's funny at all.

Nothing wrong with Enterprise rental car by the way.

Least they have a 109 certification program and have a good sized fleet.
smile.gif
 
Originally Posted by 53' Stude
csandste: dunno where you're going with that "statement" but I don't think it's funny at all.

Nothing wrong with Enterprise rental car by the way.

Least they have a 109 certification program and have a good sized fleet.
smile.gif


Nothing against Enterprise. They're actually HQ'd in St Charles County, along with Emerson are one of the few StLouis area companies left, have met Andy Taylor and have had family work for them. Also rent their cars. If they can get two thousand bucks more for a used car vs Hertz more power to them. We just don't need one company with 90 percent of the market.

I mostly use Chrome but I don't want Firefox to go away.
 
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I respect your opinion and views friend. I'm just little bummed they haven't fixed some major issues that I know of.

Guess I ought to be glad my job knew what they had (me, never late and constantly working and dedicated ) to bring me back.

Other 3 former Hertz techs; two got interviews at local garage, third has interview next Tuesday.
 
Originally Posted by Snagglefoot
I may be wrong, but usually what happens is the owners and investors lose everything, but the brand name is worth a lot , so an investment group (probably some pension fund), will purchase the assets, sell off some cars, close the low volume outlets, and get going under the same Hertz name.

Hertz was already owned mostly by investors. Vanguard had a large ownership stake in the company. A few others were in as well.
 
Originally Posted by Mr Nice
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.


Our country has rebounded to over a dozen recessions since the great depression of 1929. Resiliency. I pray for those individuals that are affected at the personal level to have the resiliency to cope and fight their (our) way back to some level of normalcy. Survival at the personal level is what it is all about. My best to everyone to be resilient!.
 
Originally Posted by ABN_CBT_ENGR
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.



Exactly right I think ^^^^^^^^^^^^

They don't care... This is the desired goals/outcome.

Maybe I'm wrong here not saying this authoritatively.....

It just sure seems a lot more to this onion so to speak.
 
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Originally Posted by Kestas
Don't companies carry six months worth of cash as a rainy day fund? This is what they keep telling individuals to do.

"Only when the tide goes out do you discover who has been swimming naked." - Warren Buffet
 
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