bocastephen

https://www.cnn.com/2021/12/07/busin...cks/index.html

And this is why I have no delusions of morality about using corporate discounts codes. Tit for tat, I say.

Thanks to cookie tracking, my news feed runneth over with examples of how Hertz continues to steal from customers. Their depth of depravity is almost astonishing

corolla

Rental car price not skyrocketing in most US places already. No matter tourist spots like HNL or business spots like LAX, back to precovid price for a while.

Even if the price is high, which is not, you have to remember that the industry has suffered from this pandemic since February 2020, and demand was not high until May 2021.

Given how investors’ confidence was negatively affected last year when holding HTZ, and how much money hertz corporation and investors lost during this period, and also considering recent absurd Avis stock surge, and the turbulence for the new virus variant, it is a 100% correct move for hertz to buy back their stocks. To my knowledge almost all major companies in travel industry regularly buy back stocks at least before COVID. People wining about this for example like the clown in the news link that ‘sent hertz a letter’, only proved they know nothing about how real world works

m907

I'm no fan of Hertz, but I don't see why Warren should have any involvement. It's not as if Hertz accepted a government bailout (though maybe it took PPP loans), it's not a monopoly, it's not artificially raising prices because the price spikes are mainly due to car shortages, and Hertz is not headquartered in her state. I'm all for holding stopping anti-competitive practices, but I don't see that problem here.

hoangb

I disagree. Prices are still outrageous in many states that I have been checking lately. Way above precovid prices. Even in my area of Southern CA, where LAX, LGB, and SNA aiport rentals have prices at least doubled and even tripled of what it used to be before the pandemic.

Really not sure where you got your data from, but my personal experience with booking leisure trips in different places have yielded a MUCH different price rental than what you suggest.

bocastephen

Because we need Congressional oversight of corporate wrongdoing, and Hertz's behavior is the epitome of such.

rthib

Yeah, They have shown they are great at making things cheaper.
If you don't like what Hertz is doing, then use one of the many other rental car companies. No is forced to use Hertz and the last person to be discussing economics is Warren.

bocastephen

Nonsense. Elizabeth Warren is a law professor and one of the nation's highest regarded experts on bankruptcy, aside from leading the CFPB - so she is one of the first people who should be discussing Hertz's behavior during, and coming out of bankruptcy and its treatment of consumers. I rarely read about Avis or National's brands inflicting anywhere near the type of abusive behavior on customers that Hertz now has a very negative and frequent reputation for - so what Hertz has been doing is unique to its business, and for which it should be punished.

m907

It's not wrongdoing. It's in poor taste, but not illegal. Congress can simply ban stock buybacks. This is merely a PR stunt by Warren.

jason8612

While there were some points on topic, I'm going to close this thread as it has gotten a bit political, which is not in the spirit of this forum and especially before it goes completely off topic.

Thanks
Jason8612 Hertz Mod