Looks like it is time to resurrect this thread as Hertz has announced they will purchase Dollar/Thrifty for 2.6bn.
http://www.chron.com/business/articl...on-3816889.php
With respect to Hertz filling a value/leisure niche, they are already doing this through Priceline. Rental cars tend to be one of the few items I am willing to "name my own price" on leisure trips because they are largely similar at the major brands. At least a couple of times searching on Kayak, Hertz has been far and away the most expensive rental, and I have named my own price --- something like 1/3 of the Hertz price (maybe 2/3 of the Dollar/Thrifty price) and ended up with a rental at Hertz.