Hertz, Car Rental Pioneer, Files for Bankruptcy Protection

New York Times ^ | May 22, 2020 | Niraj Chokshi

[Bogey78O]

Well... Call Michael Bloomberg. They dropped the NRA at his request. So fall back on your friends...

[mrsmith]

“Let Hertz put flu in the driver’s seat!”

100 years ain’t bad.

[WASCWatch]

I always go to an off-airport Enterprise location. My travel is for pleasure, so don’t mind taking light rail to the closest location and they pick me up from there.

[Drew68]

The individual(s) who came up with the idea of shutting this nation’s economy down...even for a day...should be hanged.

The world's most powerful economy left in smoldering ruins, tens of millions of jobs evaporated, countless businesses shuttered, lives destroyed, over a strain of the flu that is dangerous primarily to the elderly residents of nursing homes.

We haven't even seen the tip of the iceberg of this economic catastrophe. One thing is for certain however, there's no going back to the way we were before. Wish for it all you want, it's not going to happen. The nation has been irreparably changed. And yes, our "leaders" need to be held accountable.

[DoughtyOne]

I’m telling ya folks. This nation may not look the same ever
again.

Some attrition is normal, but it’s going to be a different
world when we go back out.

The question is, how many of your favorite places will
survive?

I’m sure others have been saying the same thing.

[Cronos]

what is puzzling is that you don’t see the spate of bankruptcy in other countries - even the ones that went on harsher lockdowns.

[Cronos]

Casual restaurant chains will be gone. local restaurants will remain

[DoughtyOne]

The Dupar’s in Pasadena just closed for good.

I loved that place. I have a lot of family memories there.

Gone.

I hope you’re right, but that was a local restaurant.

[2aProtectsTheRest]

Yep, Hertz dropped their relationship with the NRA in Feb 2018. So now you say they’re filing for bankruptcy? Good. Let ‘em burn to the ground. I just hope their chapter 11 fails and becomes chapter 7 liquidation. Them and every other turncoat abandoning the NRA and gun owners to be Bloomberg and Moms Demand Attention sycophants.

Maybe they can list “virtue signalling to gun-haters” as an asset they can auction off to pay their creditors. I hope Dick’s Sporting Goods is next.

[Taipei]

Don’t need 51 percent. Trump won last time with 46% Just need Florida, Pennsylvania, and Michigan and all the Electors from Nebraska and that’s 270.

[Dave W]

Well, there is a decent chance we will end up in a depression - a real one. Almost 40 million - 40 million have applied for unemployment. The White House has said unemployment is at least 20% now and growing every day. During the depression, unemployment was 25%.

Every organization it seems has tried to estimate the decline of GDP for the second quarter and it ranges from -20% to -40% - which is just jaw dropping, but believable. I looked it up and the worst quarter during the depression was a drop of -12.4% in 1932.

I'm hearing more and more references of depression when the media is discussing the economy. Obviously, this is why Trump wants everything to open up and it appears he is becoming insistent, phases be damned because he is obviously aware of the economic calamity that is occurring all across the country.

Hopefully, the low information voters know this is man made, but anything Trump did prior to March is absolutely irrelevant now. Covid-19 is all the voters will care about in November and will judge Trump on their own personal verdict. How Trump handled it and who they think can get the country moving again. Nothing else will matter - even Spygate, unfortunately.

From what I have seen with my church, there is true hunger out there and this is the first time in my life I have seen that. Just driving around my area, I see restaurants permanently closed along with small businesses.

Trump's campaign team has got to be anxious since they have to come up with a brand new reelection strategy after spending 3 years developing one and now having to throw it out and start all over again.

Pity, because 2020 was shaping up to be the best year for republicans since 1980.

[Dave W]

There is always someone that feels a need to add a comment that this company or that company filing for bankruptcy has little or nothing to do with shutting down the entire country for 8 weeks and they were in trouble beforehand.

Wake up. Try to justify it all you can, but we are in an economic calamity in this country with unemployment likely to reach 25% if not more. Up to half of all restaurants are not expected to reopen (most estimate 40% to 50%) and millions of small businesses will be gone. Sure, many have just a handful of employees but that translates to millions will not have a job to go back to.

Many people don't understand how businesses operate and have been highly critical that they don't have 6 months of cash in the bank. It's not a household, it's a business and many depend on cash flow for survival. I could go on, but wake up to what is happening around you.

I think JP Morgan estimated it will take 10 years to get the unemployment back down to 3.5%.

Millions aren't paying their mortgage or rent. Businesses aren't paying their leases. I know one person who works for a commercial real estate firm locally and she said they are going out of business because no one is paying their leases in these strip shopping centers and malls. Then the management companies aren't paying their loans to the banks and so forth.

[Dave W]

Agree with you 100%. Many posters on this site are clueless as to the economic calamity going on and it is just getting started and I think it is too late to stop it. I have little doubt we will be in a depression in a few months, if not now. I'm expecting commercial real estate to collapse at some point which will also cause bank failures.

I'm seeing businesses with signs taken down, a motel that has been around for as long as I have been in the area, now has a chain link fence around the property, hurting families that will become more visible in the next few months.

We will never be the same again.

[HombreSecreto]

How about a nice Hawaiian punch? ;)

[Erik Latranyi]

I have already seen the disingenuous postings by leftists that Trump has put 40 million people out of work.

[Chickensoup]

try mid sixties

[dp0622]

really accurate post

i am lucky in that i know VERY FEW people who have lost their jobs

maybe 2 out of 40 in the family

but they are higher end professional jobs

they may go soon too

i pray not

[dp0622]

I’m sure.

if the economy booms by september we should be good

we shall see

[LateBoomer]

Domino effect of lockdowns. How many of our Elites who pushed for/ordered lockdowns understood that one man staying home from his job affects the jobs of ten more men behind him?

We’re living through one of the most pivotal times in the history of our country. Our entire way of life hinges on November, and no, that’s not overstating it.

[SkyPilot]

Despite the economic collapse, everything (except gasoline and maybe airline tickets) is either priced the same or more expensive.

Don't expect to see Hertz's vehicles sold for a bargain.

Dealers and Auto Auctions will pick them up for cheap by buying them in bundles, and sell them for very high prices.

With 35,000,000 now out work, I am not sure where the folks selling things for top dollar think their customers are coming from.