Hertz
Gia Javarova
Professional Russian-English Interpreter | Bridging Language & Culture with Precision and Expertise
Hertz, one of the oldest car rental companies, filed for bankruptcy along with its subsidiaries in Canada and the United States. The history of Hertz began in 1918 in Chicago. Then the company was called Rent-a-Car Inc and had 12 Ford cars in its fleet. Hertz Drive-Ur-Self Park by that time increased to 600 cars.
The company has its divisions in 150 countries around the world, in which more than 10,200 rental points operate.
According to reports, the company’s management fired more than 20 thousand workers, which makes up 50% of all employees.
The US government refused to provide financial aid to the whole car rental sector so most of them are tanking.
Although, Hertz's franchise firms in Europe, Australia and New Zealand won't file for bancryptcty, thus, Hertz plans to retain part of the business for future development.
Hertz shares lost more than 85% of the February maximum, falling from $ 20.8 to $ 2.84 per share at the current time - a historic low. And yesterday it was at unbelieavable price of 0.40 c per share which I missed to buy, but bought at $1.05 a share and sold at $1.46. Today I bought it back at $1 a share will see how it acts tomorrow.
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