Posted on 12/07/2021 9:23:09 AM PST by ChicagoConservative27
Sen. Elizabeth Warren (D-Mass.) wrote a letter to Hertz criticizing the company as they are giving shareholders up to $2 billion in stock buybacks while rental car prices increase.
"This decision, and other actions taken before and after Hertz's bankruptcy process," Warren said in the letter to Hertz interim CEO Mark Fields, which was obtained by CNN, "reveals that the company is happy to reward executives, company insiders, and big shareholders while stiffing consumers with record-high rental car costs and ignoring the recent history that nearly wiped out the company."
Warren specifically questioned why the company would put money toward buybacks instead of purchasing new inventory that could improve prices and imbalances between supply and demand.
"You owe your customers and the public an explanation for this $2 billion buyback," Warren added, "and whether it is in the best interests of the long-term health of the company and its consumers."
(Excerpt) Read more at thehill.com ...
“...reward...big shareholders....”
Smaller shareholders didn’t get a reward?
And who cares, Hertz has competition, rent from Avis, Enterprise or others if you don’t like what Hertz is legally doing.
Commies never make any sense.
Pocahontas has too much time on her hands.
Actually I deal with Hertz commercially
They exploited their bankruptcy no question of that ...counter suits suggest it was feigned
They owe me money and try to weasel around it while their profits are now record
They sold off a lot of their fleet when aftermarket used cars rose and reimbursed employment and usual largesse and screwed creditors
It goes on
Warren sux but there is some truth here
Leftists have no idea what stock buybacks are or what they do.
Stock buybacks have legitimate and constructive purposes for a well run company, something they know nothing about.
Hey Liz, Great time to open a cost competitive car rental company. Use your own money. Charge as little as you and your unpaid interns can.
Hertz didn’t let a crisis go to waste.
this old hag still thinks her “shtick” works...go away, weird lookin bi*&h.....
She would have a lot more credibility making her artument if she self identified as 1/1000’th jeep cherokee
Has Liz checked the price of vehicles lately (if they're even available)?
This crazed indian needs to get a corporate job so she can learn the responsibilities of capitalistic corporate governance.
Their bankruptcy was masterful. If Warren wants to run Hertz, she needs to buy a majority interest.
It’s a private biz. Shut the F up.
I dropped Hertz last year because of poor service and inflated pricing. In terms of service and pricing ,enterprise /national are better companies to use.
Squaw Gray Beaver scolding again.
Go to Steve Lehto’s youtube channel. That’s all I heard about Hertz. It’s just horror story after Horror story.
“and whether it is in the best interests of the long-term health of the company and its consumers.”
.......................................................
Because everyone knows that private business decisions are best made by a government committee.
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