Hertz's stock tanks as rental car firm reportedly braces for bankruptcy

[MULTIZ321]

Hertz's stock tanks as rental car firm reportedly braces for bankruptcy

Hertz’s stock tanks as rental car firm reportedly braces for bankruptcy

One of the more famous names in the rental car business is said to be preparing for Chapter 11.

fortune.com

Richard

 

[Talent312]

I don't see how Uber & Lyft impact the rental car business.
But maybe some peep would rather rideshare than rent?

OTOH, when I rented, I never used Hertz, Thrifty & Dollar.
I doubt I will, absent a substantial change in operations.
.

 

[rapmarks]

Hertz built their international headquarters here in estero. This will impact the area, and a few neighbors work for them

 

[Miss Marty]

Hertz

The safety and well-being of (our) employees and customers remains our top priority. To better align our operations to the current travel demand and adhere to government mandates, we have temporarily closed or consolidated some of our locations.

For a full list of our closed locations, click on link..

Hertz Car Rental - Temporary Location Closures - 15 page pdf

https://images.hertz.com/pdfs/HtzLocClosure03302020.pdf

 

[PigsDad]

I don't see how Uber & Lyft impact the rental car business.
But maybe some peep would rather rideshare than rent?

I know that we have had a couple vacations where we decided not to rent a car specifically because we planned to use Uber/Lyft instead. If the only other choice would be to rely on cab service, we would have chosen to rent a car, as Uber/Lyft is so much more convenient and seems safer vs. a cab.

Kurt

 

[sfwilshire]

I don't see how Uber & Lyft impact the rental car business.
But maybe some peep would rather rideshare than rent?

OTOH, when I rented, I never used Hertz, Thrifty & Dollar.
I doubt I will, absent a substantial change in operations.
.

We had always rented cars for business travel but got a new manager than insisted we use Uber or Lyft instead. We sometimes saved a few dollars, but at the cost of work and personal time spent waiting for pickup. (St Paul in a blizzard on Valentine's evening comes to mind - waiting nearly an hour.) The only time it ever really made sense cost-wise was if we were staying in a hotel that charged a high parking fee.

Sheila

 

[pedro47]

Just think how many tourists rent automobile from Hertz just going to the Disney and Universals theme parks and both parks are closed?

Hertz is hurting. IMO.

 

[csodjd]

Stansberry Research recommended buying put options with January 2022 expiration on them several months back, believing then (well before COVID) they had little chance of surviving another year.

 

[pedro47]

If Hertz goes down this is going to cripple the big three auto makers. How many new automobiles does Hertz purchase from the automobile industry yearly. IMO.

 

[Ckhawaii]

Hertz filing for chapter 11 does not mean it’s going to go out of business, it’s just going to restructure billions worth of debt. Vendors and bond holders will probably get screwed, and Hertz will be junk bond status for awhile.
GM filed chapter 11 in ‘09 and United in ‘02 just as a few examples.