topic Re: Owner of a broken Hertz in Community Chat

Owner of a broken Hertz

Mindy D — Thu, 02 Jul 2020 08:10:38 GMT

Rental car giant Hertz declared bankruptcy last month, which should have made their stock worthless. So how come people keep buying it? Love the podcast "Planet Money." I was never much for finance, but this podcast makes every story interesting. It's soooo good. It's free. I listen on Apple a Podcasts but you can listen on many sites. Just press the red arrow for an episode that sounds interesting to you. This one podcast is always in the top of the list of most popular podcasts and there are many reasons why. I also learn a little something each time I listen.

Re: Owner of a broken Hertz

gardenman — Thu, 02 Jul 2020 10:38:27 GMT

I haven't been following the Hertz story, but in general, declaring bankruptcy and going out of business are often two different things. Lots of companies file for bankruptcy and emerge in better shape afterwards without going out of business. If an investor thinks a company will emerge from bankruptcy stronger, then it could be a good investment.

Re: Owner of a broken Hertz

godi — Thu, 02 Jul 2020 10:58:44 GMT

I loved your title of this thread 🤣🤣🤣🤣

Re: Owner of a broken Hertz

Tadaki — Thu, 02 Jul 2020 10:58:44 GMT

Looks like a good podcast. Will give it a try. Thanks @Mindy D

Re: Owner of a broken Hertz

Bhvbum — Thu, 02 Jul 2020 11:51:55 GMT

@gardenman wrote:
I haven't been following the Hertz story, but in general, declaring bankruptcy and going out of business are often two different things. Lots of companies file for bankruptcy and emerge in better shape afterwards without going out of business. If an investor thinks a company will emerge from bankruptcy stronger, then it could be a good investment.

When all those good things happen for bankrupt companies who "restructure", what they leave are sold off and closed plants, stiffed contractors, vendors, investors, communities who gave incentives, and employees who get .10 on the dollar for their retirement funds, etc. In other words it allows them to walk away from all of these debts and start over again.

That debt Hertz will walk away from is all of the above.

Re: Owner of a broken Hertz

Marp — Thu, 02 Jul 2020 12:07:56 GMT

Hertz has filed a Chapter 11 bankruptcy which gives it a chance to reorganize and work with its creditors, under the supervision of the court, to restructure their debt and get back on solid footing.

JHertz, like many other companies has been on the brink for quite a while. J.C. Penny, Nordstrom, Neiman Marcus, Kroger, Lowe's, AMC Theaters are just a few that will likely be filing for Chapter 11 brankruptcy this year.

Re: Owner of a broken Hertz

Cakers3 — Thu, 02 Jul 2020 12:19:34 GMT

@godi wrote:
I loved your title of this thread 🤣🤣🤣🤣

@godi No kidding. Right away I ended up with an earworm regarding this song by Yes: