Expect a phone call or email in the next couple of days. Hertz MB be signing a $1.78 Billion dollar loan and aid package to continue operations with lenders and the Fed. Stipulation will be that they bring back 7,000 jobs to get the bailout! More to come once details are confirmed.
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The company didn’t announce anything officially. It conveniently leaked information to Reuters it is getting specialist advice. Gives everyone the necessary plausible deniability.
Bloomberg also jumped on the story, references and writes ‘reported by Reuters’ in its article. Both outlets report explicitly that goal is to avoid bankruptcy, not as you write file for bankruptcy.
Bankruptcy is just a matter of time (Bloomberg agrees!) For those already out, you ain’t coming back. For current employees, don’t wait around and leave if you can.
The company announced they hired restructuring advisors to file for bankruptcy. They are not getting a bailout. That is confirmed.
pay the employees more and drop the stupid a– ever changing incentives packages we all get p-ss-d about.
Definitely not in Florida. Disneyworld projected to open 2021. No tourists no car rentals.
bullsh*t. fake news. 1.8b is three times the market cap and increases an already gigantic debt. we cannot offer anything near that value as a collateral. talk about throwing good money after bad.
much smarter play for the new lenders is to mandate chapter11. you screw all the old creditors by paying them cents on the dollar and then you invest in a new entity without any old liabilities.
remains the really, really, badass scenario. i'll give you 1.8b, but will collateralize by betting 3b on hertz defaulting on its debt. i win big and i just wiped my hairy a– with your 102 year old brand.
I think this rumor. I seen nothing support this. Hertz wouldn't laid off all these ppl if they had bailout in their back pocket
They take the loan make the financials appear to be better they Kathy and friends make their anuual bonuses!!!!!!
That is my question also, If they hire employees back is there any down side? With so many people laid off, it is going to be harder finding another job, a lot more competition.
If this is true and they bring you back is there any down side? Not like anywhere else is hiring right now.
This is a loan. Which means the company will go further into debt. Bringing back employees and bringing back customers are two different things. You can't keep burning cash when there is no revenue. Just gonna keep going further and further into debt and just cost tax payers instead of lenders