Hertz Car Rental in serious trouble

Hertz Car Rental in serious trouble

Author
Discussion

RDMcG

Original Poster:

15,875 posts

166 months

Tuesday 5th May
quotequote all
https://www.bloomberg.com/opinion/articles/2020-05...

They are in a cash crunch and are not making payments on some of the cars they lease,. Also the fleet value has tumbled as used car prices decline in the US. They have only a few weeks to sort out financing. The whole sector is in trouble.

neutral 3

4,833 posts

129 months

Tuesday 30th June
quotequote all
I worked for Hertz as a summer car checker, way back in summer 83 or 84, @ their garage near Hyde Park. It was two different shifts, early mornings and an evening one.
The job had been advertised by Tony Blackburn on his morning Radio London, soul show.

I used to commute up there on my accident repaired red Suzuki GT250 X7 and then my red 76 Kawasaki KH 500 triple.

I have Vivid memories of several Jaguar XJ-S, two ( I think ) white 911 Targas, Novas etc etc, that joe public could hire from Hertz.

Their then “ Slogan “ was “ Were Number 1 “ but Godfrey Davis responded with “ You’re Number 1 “
Although my shift pal Phil and I, were not allowed to clean the 911s, for some reason ( I had Lots of valleting experience and owned / restored 2 TR-6s and several MK1 3 Litre Capris.

Management there however, were Shockingly / Appallingly Dire....my pal Phil and I, had worked solidly for about 7 hours without a break, we were thirsty and hungry. So I shot round the corner, to grab us a drink and some grub. The W junior manager ( who had already taken an instant dislike to me ) hauled me into the office and had a go @ me. I remember telling him that after a few hours, we were entitled to a short break by Law.
I literally told him to stick his job up his arse and walked out......

I did write a letter of complaint to their head office, hoping the knob got his arse kicked.

XJSJohn

15,665 posts

178 months

Friday 25th September
quotequote all
RDMcG said:
https://www.bloomberg.com/opinion/articles/2020-05...

They are in a cash crunch and are not making payments on some of the cars they lease,. Also the fleet value has tumbled as used car prices decline in the US. They have only a few weeks to sort out financing. The whole sector is in trouble.
Not unexpected I guess. They must be a heavily leveraged industry finance wise, and if less people are travelling, less people need hire cars. Then they get the double hit of where do they park all the cars that should be out and the responsibility of the renter.



Pothole

31,324 posts

241 months

Friday 13th November
quotequote all
neutral 3 said:
neutral 3 said:
I worked for Hertz as a summer car checker, way back in summer 83 or 84, @ their garage near Hyde Park. It was two different shifts, early mornings and an evening one.
The job had been advertised by Tony Blackburn on his morning Radio London, soul show.

I used to commute up there on my red Suzuki GT250 X7 and then my 76 Kawasaki KH 500 triple.

I have Vivid memories of several Jaguar XJ-S, two ( I think ) white 911 Targas, Novas etc etc, that joe public could hire from Hertz.

Their then “ Slogan “ was “ Were Number 1 “ but Godfrey Davis responded with “ You’re Number 1 “
Although my shift pal Phil and I, were not allowed to clean the 911s, for some reason ( I had Lots of valleting experience and owned / restored 2 x TR-6s and several MK1 3 Litre Capris.

The Management there however, were Shockingly / Appallingly Dire.......Phil and I, had worked solidly for about 7 hours without a break, we were thirsty and hungry. So I shot round the corner, to grab us a drink and some grub. The W junior manager ( who had already taken an instant dislike to me ) hauled me into the office and had a go @ me. I remember telling him that after a few hours, we were entitled to a short break by Law.
I literally told him to stick his job up his arse and walked out......

I did write a letter of complaint to their head office, hoping the knob got his arse kicked.