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Hertz Bankruptcy?
Posted on 4/30/20 at 5:53 pm
Posted on 4/30/20 at 5:53 pm
With so many stocks at a third of what they were in January to choose from, think I will pass on this gamble. Guess there will be a big swing around May 4th either up or down.
Hertz
Hertz
3
Posted on 4/30/20 at 6:29 pm to Ramblin Wreck
quote:
The company has been in discussions with creditors for weeks and is still pushing the U.S. Treasury Department to help rental-car companies, which Marinello says have been hit as hard as the airline sector by the coronavirus pandemic
Fire up the money printers and let's bail everyone out!
No need to worry about inflation at this point or anything. frick it!
Posted on 4/30/20 at 6:58 pm to stout
I would expect Hertz to be a target for a major buyout from an industry competitor
Posted on 4/30/20 at 9:35 pm to Teauxler
quote:
I would expect Hertz to be a target for a major buyout from an industry competitor
Nah, sugar momma Trump going to fire the printing press back up, didnt you hear, it is an election year.
He gots money for errrbody.
Posted on 4/30/20 at 9:37 pm to stout
quote:
Fire up the money printers and let's bail everyone out!
No need to worry about inflation at this point or anything. frick it!
What would be your solution to the government literally bankrupting entire industries?
Posted on 4/30/20 at 9:52 pm to Captain Crackysack
I agree, these are unprecedented times. I'm usually against any type of gov't bailouts, but when they put you under what are you supposed to do?
It's a shitty situation all around.
It's a shitty situation all around.
Posted on 4/30/20 at 9:53 pm to stout
quote:
No need to worry about inflation at this point or anything. frick it!
We are in a deflationary period FYI
Posted on 4/30/20 at 10:12 pm to rintintin
quote:
I'm usually against any type of gov't bailouts, but when they put you under what are you supposed to do?
People were avoiding travel before any government restrictions were enacted
This post was edited on 4/30/20 at 10:13 pm
Posted on 4/30/20 at 11:31 pm to Ramblin Wreck
I buy their rentals wholesale, they are in firesale mode.
Buying their stock is a big gamble.
Buying their stock is a big gamble.
Posted on 5/1/20 at 12:39 am to Captain Crackysack
quote:
What would be your solution to the government literally bankrupting entire industries?
Letting the strong survive and the weak fail, it is going to happen anyway, we are just pissing trillions away to get to the same point.
Posted on 5/1/20 at 12:56 am to cave canem
So you think Hertz would have failed if the government didnt make everyone stop traveling? I'm not assuming they had the strongest balance sheet in the world prior to this, but I definitely dont remember hearing about them being on the verge of bankruptcy.
Posted on 5/1/20 at 1:27 am to Captain Crackysack
quote:
So you think Hertz would have failed if the government didnt make everyone stop traveling?
Yes, although that was not my point.
My point is there is not enough money to throw at the problem and we will end up no better off for creating all this debt.
Are you of the opinion people are going to go about life business as usual once restrictions are lifted? I certianly do not think so.
Posted on 5/1/20 at 2:13 am to cave canem
No I dont think itll be back to normal for some time. But its impossible to determine what business would have been lost just from people being more cautious and what business was lost due to government restrictions. I mean I don't have a solution for it, just pointing out how fricked it is
Posted on 5/1/20 at 5:13 am to cave canem
quote:Odd attitude CC.
Nah, sugar momma Trump going to fire the printing press back up, didnt you hear, it is an election year.
He gots money for errrbody.
Very odd.
Rightly or wrongly, the government ordered this shutdown. You think it shouldn't lend a hand to help companies cope with the impact?
Posted on 5/1/20 at 7:56 am to cave canem
quote:
Letting the strong survive and the weak fail, it is going to happen anyway, we are just pissing trillions away to get to the same point
That's fine in a natural recession, but terrifyingly dangerous in a gov't imposed recession.
Think about the precedent. The gov't can potentially order any business sector to shut down ensuring their demise.
Not to mention often times the "weak" are simply new or start-up companies (that's not the case with Hertz but the point remains). The gov't picking winners and losers at this scale is a proverbial nightmare.
Posted on 5/1/20 at 11:55 am to cave canem
quote:
Letting the strong survive and the weak fail, it is going to happen anyway, we are just pissing trillions away to get to the same point.
A pure libertarian position would also apply to individuals, as well as businesses. So under that view, people would have been free to decide for themselves whether or not they would leave their homes, and businesses would have been free to decide for themselves whether or not they wanted to continue doing businesses.
The moral hazard was created when federal and state governments began enforcing lockdown and stay-at-home orders.
Posted on 5/1/20 at 12:11 pm to Ramblin Wreck
Someone I know who owns a lot of dealerships in SE Louisiana said that rental car companies are really hurting. Some of them are having to rent runway space to park their extra cars. Look out for the used car market to drop out when a lot of these companies dump their fleet.
Posted on 5/1/20 at 1:04 pm to cave canem
quote:
Are you of the opinion people are going to go about life business as usual once restrictions are lifted? I certianly do not think so.
What's your timeframe here? Life will be getting closer to normal once government gets out of the way.
Posted on 5/1/20 at 11:16 pm to LNCHBOX
quote:
What's your timeframe here? Life will be getting closer to normal once government gets out of the way.
I am of the opinion there is going to be a very large segment of the US population that chooses to remain very wary and changes their habits and paterns, in particular the segment at risk and who also happen to hold the most disposable cash.
IMHO anyone who believes we are going back to normal anytime soon is simply whistling through the graveyard.
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