Posted on 03/18/2024 4:02:50 AM PDT by Sam77
Stephen Scherr, chief executive officer of Hertz Global Holdings Inc. and a member of its board of directors, will step down on March 31, following the car rental company’s largest quarterly loss since 2020 after a risky bet on electric vehicles.
According to Fox Business, Scherr is working with Gil West, former chief operating officer of Delta Airlines and General Motors’ Cruise unit, to ensure a smooth transition.
West will officially start his new role at Hertz on April 1.
(Excerpt) Read more at westernjournal.com ...
Excerpt...
“In November, the Associated Press reported on a Consumer Reports survey that found EVs from the 2021 to 2023 model years are significantly less reliable than gasoline-powered vehicles.
A whopping eighty percent less reliable, according to the AP, particularly with battery and charging systems, as well as fit issues with body panels and interiors.”
Far worse, disastrous, government policies continue because the government rarely reports honestly to shareholders. In private enterprise when you really screw up, you get canned. Not in government. Hence, Biden, Newsome, Harris, Schiff, ...
shocking loss to the company and current shareholders.
Companies and their CEOs self identify as lemmings rushing over cliffs these days instead of using research and common sense with their stockholders’ investments.
It’s not just Hertz, everything these social justice idiots get involved with fails and ends up ruined, just in corporate America, look at Boeing, United, Disney, Hewlitt-Packard, and the list goes on and on....
“shocking loss to the company and current shareholders.“
…And entirely predictable by average people who’ve never so much as graduated high school.
Planet Fitness is trying desperately to join that list of woke failures.
I am going to Planet Fitness today to cancel my membership. I read about a club in some other state that had a controversy about a transgender woman (aka “disturbed male”) in the women’s locker room. So I went to the corporate website and read that it is the company’s policy to allow those people access to the women’s locker rooms.
I just read about them this morning, they will join Bud Light and a few others in killing the brand and company all over allowing men in the women’s bathrooms and cancelling the membership of anyone who complains.
They canned him for a disastrous EV program then replace him with a guy from GM’s Cruise unit?
Just last December: “General Motors’ troubled Cruise autonomous vehicle unit is cutting over 900 jobs, about a quarter of its workforce, as it moves to reduce costs and remake itself after a series of safety problems in San Francisco.
The subsidiary announced the cuts Thursday in a letter to Cruise’s 3,800 workers from President and Chief Technical Officer Mo ElShenawy, who wrote that the layoffs are not the fault of the workers.”
May we chalk this up to total disregard for demand, and operating under the duress of mandated placement of less desirable products in the hands of the consumers?
Just look at what is happening to gas-fueled appliances, and the mandate that homes be all-electric. Where is the electricity going to be coming from? The electric grid is woefully inadequate in places already, and there is not enough infrastructure being built.
Now do not misunderstand, electricity is a perfectly satisfactory means of providing energy for domestic purposes, but the transformation is being forced and not left to market activity.
Placing the cart before the horse has always been a bad engineering choice, in physical, social, and economic terms.
The problem with a used EV is that it is not a used car. It is a used battery.
At least he has admitted he made a mistake. That’s more than we can say about lots of other CEO’s.
One would think they would have incorporated a little bit of due diligence and study the infrastructure before they made such a drastic plunge into the EV mark.
One of the more galling parts of these mandates is that the DC poohbahs handing down these edicts for energy-efficient/smart/run forever to minimally do what they're supposed to do appliances leave their cushy federal offices in a gas-powered limo and go out to eat at a restaurant powered by a gas stove on dishes washed in commercial dishwashers and after dinner go home in their gas-powered limo to their posh residences heated by gas furnaces where they change into clothes that were laundered in commercial washers and dryers running the same way they have for 50 years while patting themselves on the back for having done great things that day for the environment by the edicts they handed down.
That'll fit nicely on a t-shirt...
No kidding what an idiot. How do you not research to the nth degree.
Well done. Be sure to let them know exactly why you are canceling.
Hertz probably should have a few EV's for the few who want to rent one, that's it. Have most cars be what most customers wanted. Simple.
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