Hertz could soon file for bankruptcy..

tallblacknyc

Rising Star
Certified Pussy Poster
Wasn't they the 1s that months ago was gonna allow people to rent out majority of their cars on a monthly basis for like $1000? If so they should've did that shit country wide cause they would be killing it , especially right now.. All these delivery companies and people looking to make money doing those services who might need a side whip to hustle in or people who don't have rides but would need 1 would use that service.. They might have dropped the ball not pushing that route
 

TimRock

Still Standing
BGOL Investor
Yep, it's happening. This was the company I was waiting for to get mentioned.
 

BaseballKid

Rising Star
BGOL Investor
I will not be surprise if one of the Airlines (like Spirit, Frontier or maybe one of the bigger ones) gets caught up and has to file.

They may end getting brought and merged with one of them.
 

PeerlessMack

Been here longer than you think!
BGOL Investor
Anything related to travel, especially business travel, is gonna get hit hard. The company I work for has suspended all travel until the end of the year. I have friends who told me their company has done the same.

Business travel is big business for rental car companies.
 

jack walsh13

Jack Walsh 13
BGOL Investor
Anything related to travel, especially business travel, is gonna get hit hard. The company I work for has suspended all travel until the end of the year. I have friends who told me their company has done the same.

Business travel is big business for rental car companies.
True.

 

Africanama

Rising Star
BGOL Patreon Investor
There’s such a car surplus, a lot cars in the lots, unless the cars sell in rock bottom prices, you would be a fool to buy any those Hertz cars outside of pennies on the dollar.
 

xxxbishopxxx

Rising Star
BGOL Investor
Wasn't they the 1s that months ago was gonna allow people to rent out majority of their cars on a monthly basis for like $1000? If so they should've did that shit country wide cause they would be killing it , especially right now.. All these delivery companies and people looking to make money doing those services who might need a side whip to hustle in or people who don't have rides but would need 1 would use that service.. They might have dropped the ball not pushing that route
not sure how that would work with so many people that can't pay their basic bills now.
 

easy_b

ADOS are Russian assholes!!!
BGOL Investor
They did

Hertz declares bankruptcy, blames COVID-19

Well they are going to have to sell most of their fleet. You are going to see a lot of bankruptcies in the summertime. Republicans want people to jump back into things like it was before but that’s not going to happen. Also those asshole Republicans in the Senate are going to have to pass the second stimulus they don’t have a choice right now.
 

Hotlantan

Love is a gamble and I'm SO glad that I am winning
BGOL Investor
Hertz just put more than 20 identical yellow 2019 Corvettes up for sale at a steep discount as the company reportedly prepares for a potential bankruptcy


The COVID-19 pandemic has been a nightmare for countless industries — especially companies in the travel sector.

The rental-car company Hertz is reportedly preparing for a possible bankruptcy and recently named a new CEO, Paul Stone. Its previous one, Kathryn Marinello, resigned on Saturday.

While Hertz attempts to sort out its finances, the folks at Jalopnik recently noticed a slew of black-and-yellow Hertz 2019 Chevrolet Corvette Z06s suddenly appear for sale online. The cars are available on the popular car-buying website Autotrader and on Hertz's own car-sales website. On Wednesday, you could see 19 for sale, down from the "over twenty" that Jalopnik reported on Monday.

A Hertz representative confirmed to Business Insider that these were indeed the Hertz 100th Anniversary Edition Corvettes, among the 100 made exclusively for Hertz in 2018 to celebrate the company's centennial. They were available to rent at airports in Atlanta; Boston; Chicago; Dallas; Fort Lauderdale, Fort Myers, Orlando, Miami, and Tampa, Florida; Las Vegas; Los Angeles; New York; San Diego; and San Francisco.

Each Anniversary Edition Corvette Z06 came with Hertz custom interior badging that had a personalized Hertz centennial plaque and included the car's model number.

The cars wore yellow paint and black stripes to match Hertz's black-and-yellow corporate color scheme. They also all came with automatic transmissions so that people who might not know how to drive a manual wouldn't be left out.




A Z06 is no ordinary Corvette either. The Hertz 100th Anniversary Edition Corvettes were built from the seventh generation of Corvette, called the C7. The Z06 was a special performance-oriented model in the C7 family that used a supercharged V8 engine to produce an ungodly 650 horsepower and 650 pound-feet of torque.

According to Roadshow, the Hertz cars had a limit of 75 miles a day, or 525 miles a week. Each mile over that incurred an extra $0.75 charge.

The Hertz Z06s for sale are all over the country and average out to about 20,000 miles driven. And they're all about $60,000. This is a bargain!
A quick spin around Autotrader searching for comparable non-Hertz 2019 Corvette Z06s showed listings for cars with much fewer miles, but for way more money — surging well into the $80,000 range.




Now, you might be hesitant to pick up a used car that so many people have likely thrashed and taken on joyrides. But keep in mind that rental companies typically maintain their cars very well and follow service schedules strictly. The Hertz Z06s are displayed with "no haggle" prices, so that saves you the headache of negotiating.

You can check out the 19 Hertz Corvette Z06s for sale at Hertz's car-sales site. Get them before they're gone, because they're going fast. The website notes that home delivery is available.

It's not clear whether the abrupt appearance of so many Hertz Z06s for sale has anything to do with Hertz's financial situation. A Hertz representative told Business Insider that the company started selling the Z06s last year as they transitioned out of the rental fleet.
"This timing follows a standard rotation period for our rental vehicles," they said.
 

oskie

Rising Star
BGOL Investor
I worked for Hertz back in 06. And the way folks dog those cars out I would not trust buying those cars. Man we would skip oil changes and shit. Plus our fleet cars in the southeast did not go to auction. Only fleet sales to carmax and drivers way back then
 

havelcok

Rising Star
BGOL Investor
I looked at the local inventory here
All those cars had at least 90k miles
I thought rental companies kept their stock new
 

Mixd

Habitual Line Stepper
BGOL Investor
Not sure if they may sell their cars to other companies for a quick sale or go thru auctioning them off. They may dump them on Copart or IAAI.

But found this site. I'm shopping for a truck since prices should be tanking, and probably can get good deals if you keep watching their direct site:

Never know...
 

tallblacknyc

Rising Star
Certified Pussy Poster
not sure how that would work with so many people that can't pay their basic bills now.
Food delivery, food shopping, delivering packages, medincine, etc is big bizz currently and some people are making 1500 or more a week doing some of those services... Some people making 250-350+ a day in certain instances... If you can make that kinda money a day a lot of people who don't have vehicles but have licenses would jump on being able to rent vehicles for the time being.. Hell you could do monthly rate for $1000 or a weekly rate for 250-300 .. There's individuals that would jump on that situation to earn money right at this moment... College students, unemployed, house wives, people looking for 2nd jobs, people just looking to make money period during these times... When certain negatives happen it opens up big financial opportunities for others... The transportation bizz is thriving right now
 

slam

aka * My Name Is Not $lam *
BGOL Legend
i bought 300 shares of their stock last week.
aint that bout a bitch.

i know right ...

thts the dam risk about fucking around with stocks in the travel industry ...

everybody saying buy now while shit low but suppose they file on u ...?...:eek2:

BGOL brokers check in .... spit some facts on this ...:idea:
 

RoomService

Dinner is now being served.
BGOL Investor
The CEO of Hertz will get a $700,000 payday as his 102-year-old company crumbles into bankruptcy

Hertz paid its 340 top executives an average of $47,709 a few days before it filed for bankruptcy, the car-rental company said in a federal filing on Tuesday.
That's $16.2 million in total, distributed on May 19. Hertz, which was founded in 1918, filed for bankruptcy protection on Friday.
Its CEO, Paul Stone, got the biggest payday, at $700,000, though he took the role days before Hertz's bankruptcy filing.


Hertz's chief financial officer, Jamere Jackson, received $600,000, and Chief Marketing Officer Jodi Allen got just under $190,000.

Chess Baby


 
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