Hertz files bankruptcy

Discussion in 'Non-sports board' started by purkey, May 23, 2020.

  1. purkey

    purkey MegaPoke is insane
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    surprising. That's a huge deal. Makes you wonder how many more are hanging on to the last thread. I've been told that Enterprise pays cash for everything so they'll be fine.
     
  2. Renegade Bullet

    Renegade Bullet All-American
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    Enterprise is privately held but still has debt. They have had massive furloughs and layoffs. They will be okay but they took a big hit obviously
     
  3. Cowguy

    Cowguy Heisman Candidate
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    I heard they got rid of all the truly dead wood years ago.
     
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  4. FMPoke

    FMPoke Heisman Winner
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    Another blow for O.J.

    Seriously this is a classic case of a historically dominate company that didn't keep up with the times and got eaten alive by younger competition. Hertz was built on servicing the premium corporate business and didn't adapt to the times. Their market share dropped from over 50% in their heyday to under 15% in the last available data (2017) I found online.

    I can't tell you the last time I rented from Hertz. I can tell every time I went to book a rental in the past 20 years they were not price competitive. Without exception one of if not the highest rates. Enterprise offered better prices and better service.
     
  5. tcpoke

    tcpoke Heisman Winner
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    Seems like over the last 15 years or so Hertz really started to put their focus into commercial equipment and vehicle rentals. They spun that business off into its own entity two years ago and I believe it’s doing very well.
     
  6. purkey

    purkey MegaPoke is insane
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    Hertz tried to copy enterprise with the local offices off airport and failed. They haven't been competitive price wise for a while. I'm wondering how many employees are still working there...it used to be a great job.
     
  7. HighStickHarry

    HighStickHarry MegaPoke is insane
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    HR is always dead wood!!
     
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  8. Renegade Bullet

    Renegade Bullet All-American
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    Long live HR!
     
  9. squeak

    squeak Heisman Winner
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    Was 38k. 12k recently let go. 4K furloughed.
     
  10. OSUIvan

    OSUIvan Heisman Candidate
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    Amazon rents lots of Hertz vans in the Tulsa area for deliveries.
     
  11. ostate5786

    ostate5786 MegaPoke is insane
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    I was wondering. I be amazon buys a buttload of them for cheap now
     
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  12. squeak

    squeak Heisman Winner
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    I don’t think that business is going bankrupt.
     
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  13. JonnyVito

    JonnyVito MegaPoke is insane
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    Wonder if there will be any big deals out there on used cars soon...
     
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  14. Renegade Bullet

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    Yep. And it will crater the used car market. Then you will see deals on new cars to try and catch up.
     
  15. tcpoke

    tcpoke Heisman Winner
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    Never, ever buy a used rental. Never.
     
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  16. JonnyVito

    JonnyVito MegaPoke is insane
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    Oh I know, I have rented before... I just wonder how a mass exodus into the used market could be traced.
     
  17. lovethempokes

    lovethempokes Redshirt
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    Enterprise just buys the base model cars. Hertz and others bought the bells and whistle cars so they could sell them back to the manufacturer. Enterprise has their own used car selling unit in place. I know Alamo/National had a issue with some of the customers complaining after Enterprise bought them that the cars weren’t as nice. That’s how they saved money. To this day I still don’t understand how Enterprise’s model worked as they are the most decentralized company I’ve ever seen.
     
  18. Renegade Bullet

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    This was the case a LONG time ago. It hasn’t been the case in probably 10-15 years. Enterprise sometimes gets cars with all the bells and whistles. Sometimes they don’t. It’s really a mixed bag.

    Also, not all of the cars that Enterprise sells were rentals or leases...
     
  19. purkey

    purkey MegaPoke is insane
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    I agree...I'm a heavy renter for the most part and Enterprise cars have just as many bells and whistles as the rest...especially if you get the premium cars. And the pricing at Enterprise is substantially less than anyone else. Throw in you don't have to drive out to the airport and it's not fair competition. One of the features I have grown to like is the adaptive cruise...it's something I'd want on my own car.
     
  20. OSUIvan

    OSUIvan Heisman Candidate
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    higher end cars base package has a lot of bells and whistles now days.
     
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  21. JonnyVito

    JonnyVito MegaPoke is insane
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    I both love and hate the adaptive cruise on my wife’s car. I do find if I am talking to her and get behind a slow car I forget it will slow the car down.
     
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