Hertz: Car rental firm files for US bankruptcy protection

[bucolic_frolic]

Source: BBC via Yahoo Finance

The firm, which earns much of its income from car rentals at airports, said it had been affected by the sharp downturn in global travel.

It will continue to operate while restructuring its debts.

Hertz's international operations in Europe, Australia and New Zealand as well as its franchised locations in the US are not affected.

The company - which began operating a century ago in Chicago with a dozen Model T Ford cars - had already furloughed or laid off 20,000 employees, or around half of its global workforce, in response to the pandemic.

Read more: https://finance.yahoo.com/news/hertz-car-rental-firm-files-050332559.html

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Wow, is this country going to be flooded with used cars. From rental companies, from people going belly up on their car loans, from people taking the recession to repair their existing vehicles. A local car repair place has a parking lot full of used vehicles, I don't recall seeing any 6 months ago. Inflation? We're going to see deflation in some things first.

Did Hertz ever really shed the iconic image of OJ running through airports?