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Sen. Elizabeth Warren (D-Mass.) wrote a letter to Hertz criticizing the company as they are giving shareholders up to $2 billion in stock buybacks while rental car prices increase. "This decision, and other actions taken before and after Hertz's bankruptcy process," Warren said in the letter to Hertz interim CEO Mark Fields, which was obtained by CNN, "reveals that the company is happy to reward executives, company insiders, and big shareholders while stiffing consumers with record-high rental car costs and ignoring the recent history that nearly wiped out the company." Warren specifically questioned why the company would put money toward...

Hertz customers are attempting to sue the rental car company after being falsely arrested and sometimes jailed for months after the company listed the rental cars they paid for as stolen. More than 165 people from several states have filed legal complaints against Hertz for 'egregious business malpractices,' according to civil litigation ongoing in U.S. Bankruptcy Court in Wilmington. The news made national headlines last week bringing forward another hundred claimants, lead attorney Francis Alexander Malofiy told DailyMail.com. Each customer claims they were falsely arrested for driving a stolen vehicle despite having receipts confirming their rentals. The furious claimants say...

A slew of former Hertz Car Rental customers are suing the company for allegedly having them falsely arrested and jailed. More than 165 customers from Delaware, California, Florida, Illinois and other states have come forward filing legal complaints against Hertz. Each of them claiming to have rented cars from the company only to be stopped, arrested, and sometimes jailed over accusations that the vehicle was reported missing. The customers who each have rental agreements and bank statements to prove their innocence say that Hertz’s unreliable system and filing of false stolen car reports is to blame. For instance, James Tolen...

Thanks to a blowout earnings report and a big car order by Hertz, Tesla’s market cap surpassed $1 trillion on Monday—and CEO Elon Musk has emerged as the richest person in the history of the world. Forbes estimates Musk’s net worth to be $271.3 billion as of the market’s close on Monday—up some $41.7 billion from Friday’s close. For that, he can thank a nearly 13% jump in Tesla stock plus more than 16 million new stock options, worth $16.1 billion, awarded following Tesla’s latest earnings report. Musk is in uncharted territory, headed toward $300 billion. For comparison, Amazon’s founder...

Hertz, the car rental agency, said Monday that it had placed an order for 100,000 Teslas, a sign of growing momentum in the shift to electric vehicles. By the end of next year, when the Tesla order is completed, electric vehicles will make up more than 20% of Hertz’s global vehicle fleet, the company said. Hertz said it was teaming with NFL quarterback Tom Brady to promote its EV offerings in a marketing campaign. “Electric vehicles are now mainstream, and we’ve only just begun to see rising global demand and interest,” Mark Fields, Hertz’s interim chief executive, said in a...

Tesla Inc. TSLA 12.66% became the latest U.S. company to cross the $1 trillion milestone in market value as its stock price has more than doubled in the past year on surging sales and rising profit.Helping Tesla cross the mark Monday was news that Hertz Global Holdings Inc. HTZZ 10.09% had ordered 100,000 vehicles from the electric vehicle maker to stock its rental-car fleet, a major bulk purchase that could help the car company get more of its cars into the hands of mainstream consumers.In crossing the $1 trillion mark, Tesla joins Apple Inc., Microsoft Corp. , Amazon.com Inc. and...

A bankruptcy court has confirmed Hertz’s reorganization plan, which helps clear the way for the car rental company to emerge from Chapter 11 bankruptcy protection by the end of the month. Hertz will likely emerge from Chapter 11 bankruptcy protection by the end of the month after a bankruptcy court confirmed the reorganization plan for the beleaguered car rental company. Hertz Global Holdings Inc., owner of which filed for bankruptcy protection in May 2020, said Thursday that its plan will eraser more than $5 billion in debt and provide more than $2.2 billion in liquidity. Creditors will be paid in...

A police report said that Joe Biden’s son Hunter Biden returned a rental car in Arizona that contained a cocaine pipe days before the 2016 presidential election, according to a new report. Hunter Biden, whose legal first name is Robert, also left credit cards, a driver's license, a Delaware attorney general badge, a cellphone, and a U.S. Secret Service business card in the car, according to the police report obtained by Breitbart News. He had rented the car from Hertz in California and it was returned in Prescott, Ariz., after hours. The car keys were not properly deposited in a...

The rental car industry, like many others, has taken a massive beating at the hands of the coronavirus pandemic, and we’re now starting to see effects of the industry’s downturn. Hertz has been struggling to stay afloat after a significant portion of its business evaporated nearly overnight, and it declared bankruptcy in May. But as the Wall Street Journal reports, the company will be able to offload a big chunk of its vehicle fleet to help repay creditors. Hertz Global Holdings Inc. said it has reached a temporary agreement with the group of creditors that had been fighting against the...

Hertz Global Holdings Inc. is preparing to file for bankruptcy as soon as Monday night if the company fails to rework its debt and can’t get lenders to extend a grace period on a missed payment. The rental-car company has been talking to some of its creditors about how to ease its burden without going through bankruptcy, but negotiations have been a struggle and the company is preparing to file for Chapter 11 court protection, according to people with knowledge of the matter. Hertz could file this evening, though Tuesday would be more likely if a deal isn’t reached. The...

Mass IT layoffs are often small and unnoticed. They are not on the scale of the Carrier air conditioning plant layoff; its Indianapolis facility, which currently employs 2,000 people, is moving to Mexico. Hertz IT employees share two things with the Carrier workers: They were also angry, and they got the news on the same day, Feb. 10. The Carrier layoffs arrived guillotine-like; the plant is closing, period. But IT layoffs are rarely like that. There are ambiguities and uncertainties and lifeboats for some, and so it was at Hertz. In an early morning conference call, Hertz's IT employees were...

Hertz, which started with a fleet of a dozen Ford Model T’s a century ago and became one of the world’s largest car rental companies, filed for bankruptcy protection on Friday after falling victim to its mountain of debt. The coronavirus pandemic has devastated Hertz by grounding business travelers and tourists, making it impossible for the company to continue paying its lenders. A sharp drop in used car prices has also decreased the value of its fleet. “They were doing quite well, but when you turn off the revenues and you own all these cars and all of a sudden...

The Atilis Gym in Bellmawr, New Jersey open for business today..... Car-rental company Hertz filing for bankruptcy under Chapter 11 in Delaware today.... Economic advisers to the President see better economic news later this year...... For the first time since a major economic downturn in 2002, Argentina is in default on a loan tonight..... Iran's top military commander says his country has intelligence on US military movements in the Persian Gulf region and far beyond....... A successful test of a laser weapon by the United States........ The US is considering a nuclear weapons test for the first time since 1992.........

Hertz has joined several other top car rental companies in cutting ties with the National Rifle Association (NRA). The company wrote on Twitter on Friday that it would stop offering a discount on rental cars to NRA members.

TALLAHASSEE Visitors to Florida who rent cars are being shocked by toll charges long after they get home, and enough are complaining that legislators say it could damage the state’s tourist-friendly image. In Florida, a tourist climbs behind the wheel of a rental car and enters a world of 600 miles of toll roads, more than any other state. As cash toll booths are steadily giving way to cashless, all-electronic tolling, car renters are being hit with service fees of $4 to $15 a day on top of unpaid toll charges. The rental car industry calls it a convenience as...

“Did you know Hertz is putting cameras in rental cars!? This is bullsh*t. I wonder if it says they can tape me in my Hertz contract.” [snip] The system can’t be turned off from what I could tell. Further investigation revealed that the camera can see the entire inside of the car. I know rental car companies have been tracking the speed and movements of their vehicles for years but putting a camera inside the cabin of the vehicle is taking their need for information a little TOO FAR.

Hertz has sent termination letters to 25 drivers at Seattle-Tacoma International Airport after they refused to agree to clock out for daily breaks, during which they normally pray.

After a continued refusal to clock out when taking a break to pray, Hertz axed more than two dozen employees at one of America's busiest airports. A Hertz spokesman said he was disappointed that 26 Muslim drivers at Sea-Tac Airport chose to be fired rather than clock out for prayer breaks. One of the fired employees, Ileys Omar, told the Seattle Post-Intelligencer: 'We feel like we're being punished for what we believe in.' Teamsters Local 117, the union that represents the drivers, said it had not been notified of the policy. The union's Secretary-Treasurer Tracey Thompson said in a statement:...

Car rental firm Hertz fired 26 employees at its Sea-Tac Airport location for failing to clock out when they take their prayer breaks. The employees say Hertz is trampling on their right to religious freedom, but the company says it's merely trying to promote fairness in the workplace. "We feel like we're being punished for what we believe in," said former Hertz employee Ileys Omar. Omar is a Muslim who prays five times a day. In the past, Muslim employees at Hertz paused for their prayers without clocking out. "It's five minutes. It's not as big deal as the company's...