Debt Rattle May 23 2020
- This topic has 8 replies, 7 voices, and was last updated 3 years, 11 months ago by
.
-
Posts
-
Adam Zyglis The son of man May 19 2020 • US Grants Tentative OK For 15 Air Carriers To Cut Service To 75 Airports (R.) • UK Confirms 14-Day Qua
[See the full post at: Debt Rattle May 23 2020]Looking deeper
http://ir.hertz.com/board-of-directors
On 18 May 2020, Stone was appointed president and CEO of Hertz, with immediate effect, succeeding Kathryn V. Marinello.[1]http://ir.hertz.com/2020-05-22-Hertz-Global-Holdings-Takes-Action-To-Strengthen-Capital-Structure-Following-Impact-Of-Global-Coronavirus-Crisis
ESTERO, Fla., May 22, 2020 /PRNewswire/ — Hertz Global Holdings, Inc. (NYSE: HTZ) (“Hertz” or the “Company”) today announced it and certain of its U.S. and Canadian subsidiaries have filed voluntary petitions for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware.operates 10,200 corporate and franchisee locations internationally.
700,000 vehicles$24 billion in debt
the brands Hertz, Dollar, Thrifty, and Firefly.
Number of employees: ~38,000Taking Actions in Response to COVID-19
When the effects of the crisis began to manifest in March, causing an increase in car rental cancellations and a decline in forward bookings, the Company moved quickly to adjust. Hertz took action to align expenses with significantly lower demand levels by closely managing overhead and operating costs, including:
reducing planned fleet levels through vehicle sales and by canceling fleet orders,
consolidating off-airport rental locations,
deferring capital expenditures and cutting marketing spend, and
implementing furloughs and layoffs of 20,000 employees, or approximately 50% of its global workforce.
The Company actively engaged with many of its largest creditors to temporarily reduce the required payments under the Company’s vehicle operating lease. Although Hertz negotiated short-term relief with such creditors, it was unable to secure longer-term agreements. Additionally, the Company sought assistance from the U.S. government, but access to funding for the rental car industry did not become available.Additional Information
White & Case LLP is serving as legal advisor, Moelis & Co. is serving as investment banker, and FTI Consulting is serving as financial advisor.
https://restructuring.primeclerk.com/hertz/
Hertz’s principal international operating regions, including Europe, Australia and New Zealand are not included in the U.S. Chapter 11 proceedings and are continuing normal operations. In addition, Hertz’s franchised locations, which are not owned by the Company, also are not included in the Chapter 11 proceedings and are continuing normal operations.edit didn’t work
https://www.zerohedge.com/markets/hertz-files-bankruptcy-lockdowns-crush-rental-car-industryHertz has had a number of high-profile corporate owners, including RCA, United Airlines, and most recently Ford, which sold it to a group of private equity firms in 2005 for $5.6 billion. It was taken public a year later.
Its primary shareholder today is activist investor Carl Icahn, who owns about 38% of its shares outstanding. He continued to increase his stake in the company all the way through mid-March. Those shares, which increased the size of his stake by 26%, have lost more than 60% of their value in the two months since his most recent purchases.
“Case numbers have not grown at the same exponential rate as in other regions and so far Africa has not experienced the high mortality seen in some parts of the world.”
A study from 21 May says that most African countries are “providing prompt treatment of the patients with a range of drugs especially Hydroxychloroquine, Chloroquine and Chloroquine-Azithromycin combination.”
Comparative analysis of COVID-19 across the world revealed that the parameters were relatively inconsequential in Oceania and Africa continents, while Europe, North America and Asia had significantly higher cases of disease outcomes…
With respect to management of the disease in Africa, all the countries adopted the WHO protocols, personal hygiene, economic palliatives and social distancing measures…
Additionally, most of the countries are providing prompt treatment of the patients with a range of drugs especially Hydroxychloroquine, Chloroquine and Chloroquine-Azithromycin combination…
During the 75 days of observation, African countries have recorded significantly low number of deaths associated with COVID-19 and relatively high recovery rates. Countries in Africa with higher rate of recovery from the disease were found to have adopted strict adherence to some of WHO protocol to contain the disease, isolate all those who test positive to the disease and provide prompt treatment of the patients with a range of drugs especially Hydroxychloroquine, Chloroquine and Chloroquine-Azithromycin combination.
Preliminary evaluation of COVID-19 disease outcomes, test capacities and management approaches among African countries.
https://www.medrxiv.org/content/10.1101/2020.05.16.20103838v2Two thoughts came to mind after watching the clip of Press Secretary Kayleigh McEnany. First, was the word “squirm”, as her uncensored pronouncements about the Russiagate hoax and Flynn prosecution must be driving the establishment absolutely mad. Secondly, her bold style reminds me of the Russian Ministry of Foreign Affairs spokesperson, Maria Zakharova, who also does an outstanding job. It feels good to see someone face overwhelming odds and land some good solid staggering punches. With Trump now on the attack we should prepare to see the establishment crazy-meter enter the red zone as the 2020 election approaches.
The Helena Bonham Carter clip about cellphones was spot on. Really gave me a good laugh. I have no idea what she is like in everyday life, but her work as an actress has always been ‘top drawer’.
I’m not sure where you’re seeing US airplanes everywhere. Here in the suburbs north of Los Angeles, it was normal to have near constant plane/helo noise 24/7. Now we have a couple airliners a day, almost no small aircraft (Van Nuys is THE small plane airport!), and a tonal shift in the helo traffic (not less, but different, more aggressive-sounding for some reason). It’s been this quiet since end of March.
ThomasJKenney:
I bet the sky is nice and blue too!
The thing about landing in LA is you drop down through an incredible thick brown air above LA!
Funny though, once on the ground, if you look up the sky is blue!
You don’t see that thick brown air above LA!
Quotes from around: “Probably the scariest piece of news is not about the numbers of “infected”. It is a meaningless word, for there are persistent carriers who do not succumb to disease; the vast majority of the “infected” are asymptomatic, meaning they aren’t sick and aren’t infectious; the number of “infected” is in direct proportion to the number of tests; the tests are dubious at best, and none is verified by the methods accepted in pre-corona medicine, while the methodology approved and enforced by the WHO can’t be described as scientific. It is not about deaths, for we do not experience more deaths than in 2018. Moreover, in many countries, notably in France and in Norway there are 30% fewer deaths in certain weeks of April and May in this year than in the last year.” https://www.unz.com/ishamir/coronavirus-conspiracies/
We are now also seeing cases drop once states open up, perhaps from sunlight and away from apartment air-handling systems.
Now agreed by Pope John Fauci the lockdowns are doing more harm that good. Just like I said. But he only says that after it didn’t rig the election they way they had hoped. NYC is dying. Democratic strongholds are revolting. We didn’t need any hospitals. We didn’t need any ships. We didn’t need any ventilators. We’re 25 million short. Wrong again, like every single time.
“”We’ve Never Seen Numbers Like This” – Trauma Doc Sees Post-Lockdown Suicide Wave Starting” “we’ve seen a year’s worth of suicide attempts in the last four weeks.”
“Worst Unemployment Spike In History – 1 In 4 American Workers Has Filed For Unemployment Benefits In 2020”
Censorship of all doctors, science, and history: “YouTube Censors Doctor Knut Wittkowski For Opposing The Tyrannical Lockdowns”Curves nationwide and worldwide are all roughly the same, lockdown, no lockdown, early, late, whatever. Just like I said. But now science and experts say it and you can keep saying I’m an idiot, just like always, although I’m right again, like so often. Always believe experts that are wrong, who then reverse themselves and are never discredited, instead of engineers that are right, inexpensively, far ahead of time when it still matters. They are also reviewing the data, finally, to determine who actually died of CV and who didn’t. Stay tuned.
Even the variation between curves make no sense. Cambodia, no cases, big traffic with China, nothing. Russia that locked down and was free, now suddenly something, once their people-tracking plans were tested and approved. Upper Italy but not lower. It does seem to attack wealthy nations, and democratic states, and places that protest and secede like Wuhan and Milan and Iran, which is really noteable.
We did solve another problem with the unusually high transmission in Michigan, as the governor there too was salting nursing homes with CV patients by decree, then wondering how nursing homes somehow got infected, with 30-50% of the deaths occurring there. She continues this after “Grandma Killer” Cuomo Sent 4,300 Patients Back To Nursing Homes Despite Positive COVID-19 Tests” was forced to reverse.
No one cares. No one is held accountable. No one is discredited. They do it all again tomorrow. Just so long as the Enlightenment and Western culture are utterly destroyed and we return to totalitarian neo-feudalism, where the King owns the fruit of your labor, not you, everything is fine, everyone’s in favor. So long as drug dealers, liquor stores, monopolies, prostitution are all open and churches, hospitals, and small businesses are closed, everything has the stamp of approval. Mothers in public parks are arrested, pedophiles are released for their safety to state-paid luxury hotels. All considered logical, necessary, and normal.
So according to St. Fauci, according to the adjusted science on the various curves, the lockdown saved no one, or at least not many, destroying the entire economy that we use to, you know, EAT, and HEAT, and pay for DOCTORS, for essentially nothing. But don’t worry: like all the other science, they will ignore this science too and not look at it, just tell themselves they were right, and why your neighbor dies of alcoholism in his house, then his children were hauled off and were raped in foster care isn’t because he lost his small business of 20 years’ life’s work because Amazon can sell online but they’re arresting small business owners for posting on facebook. Nope. It’s his weakness, his fault, because of course I was “helping” and didn’t mean to, had no intent to, kill these thousands when I got involved and told them all what to do at the point of total violence and crushing child-kidnapping orders, because I, Karen,-are-smarter-than.
The million, hundred million, that will now die from the newly-expanded, totally warned-and-predictable foundation of totalitarianism worldwide, in Europe, Russia, New Zealand, Canada, that won’t be my fault either because when I said every person had to be tracked every minute and could be rousted out of their homes and put into indefinite lockdown for no probable cause, I didn’t mean the REPORTERS, few though they are. I didn’t mean the RABBIS, in Queens. I didn’t mean the OPPOSITION candidates, the guy who has a pension to steal, I didn’t mean a business owner who didn’t obey fast enough and found CPS interviewing her kids, I meant my loud-mouthed neighbor who doesn’t watch his kids. I of course DID mean the Baptist pastors, the #@&$, helping fix people after hurricanes while FEMA stands on their thumbs, can’t-stand-it. I didn’t see it coming, although we’re the smart guys and that’s the whitest white swan in history, every line on every page of the whole book is written nothing but the same attempts, this same history of wrongs, and nothing could be more apparent, in the news 30 minutes after these non-laws passed, or just using common sense.
But I didn’t mean. We were trying to help.
Now that the lockdown is being discredited by science, the human race may yet survive such help. It remains to be seen.
Leave people alone, as the Tao te Ching wisely suggested 3,000 years ago. They won’t. They can’t help themselves. It’s the existence of ego. Ego always knows best and throws a deadly tantrum if told otherwise. Let it go.
- You must be logged in to reply to this topic.
Sorry, the comment form is closed at this time.