Hertz files for bankruptcy

I always used Avis. Hertz had ridiculously high rental rates for casual renters. I know they made their multi-millions catering to Big Business, with their corporate accounts, but it always stuck in my craw when I checked out their rates. I have mixed emotions about their fading away.
 
Rental car agencies are facing some tough times, during this crisis....travel, etc., is a fraction of what it was, and this will probably continue for many more months. The impact on the entire auto industry is increasing, as sales are also down substantially. About the Only segment of the auto industry that is remaining fairly steady is the sale of pickup trucks.

The nations airports are filled with parked airplanes and parking lots full of unused rental cars.
 
Never in our history have so many businesses faced extinction so quickly (don't reply, what about The Great Depression?") What is scary is hopefully the giant money people buying up the failed businesses reducing our opportunity to choose what and where to buy.
 
I've been told there are ways to declare bankruptcy without actually closing the doors and selling off the furniture. It's a legal way to put off your creditors for a while, and still be in business. You have to admit that leasing cars in the middle of a pandemic is a bad way to bring in cash. When people start flying again, it should pick up.
 
I have a feeling a lot businesses that were hurting before are going to have a really tough time recovering from all this. Plus losing customers to the virus.
 
fuzzybuddy said:
I've been told there are ways to declare bankruptcy without actually closing the doors and selling off the furniture. It's a legal way to put off your creditors for a while, and still be in business. You have to admit that leasing cars in the middle of a pandemic is a bad way to bring in cash. When people start flying again, it should pick up.
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Exactly, and that's likely what will happen. Unfortunately I read that Hertz is canceling a huge fleet order to several automakers so the crap will roll downhill. Hertz ordered something like 200,000 new cars a year which is no small impact for manufacturing.
 
C'est Moi said:
Exactly, and that's likely what will happen. Unfortunately I read that Hertz is canceling a huge fleet order to several automakers so the crap will roll downhill. Hertz ordered something like 200,000 new cars a year which is no small impact for manufacturing.
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Unfortunately, crap has a tendency to roll both downhill AND uphill. ALL will suffer (except, of course, for the executives who usually come out of the outhouse with their Golden Parachutes tightly strapped on and smelling like roses.....and money...…and a hint of mendacity.....)
 

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