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Even if they brought the Platinum purchase program back, we would think most folks would be very hesitant to take advantage of it given Hertz's own admission that they have a "substantial doubt" about continuing as a "going concern". We certainly would advise against making a major commitment to Hertz until they can (hopefully) shore up their financial situation.
It's hard to imagine Hertz going chaper 7. They've innovated a lot in the last few years though the core problems never went away. Do you think one of their competitors would have the resources and interest to buy them?