Hints and tips:
...Stephen Scherr has stepped down as chief executive of car rental chain Hertz....
...Corporate earnings: Car rental group Hertz, Spirit Airlines, Royal Caribbean Cruises and private equity firms KKR and Carlyle Group report earnings before the opening bell....
...What West’s case really shows is just how high the stakes have become for corporations in the brand-building game....
...The losses stem from costly hedges that bet against a fast-rising S&P 500, and large investments in companies such as Hertz and Chesapeake Energy, which went bankrupt....
...Marblegate, which manages roughly $3bn, is best known for its 2014 legal fight over the restructuring of the for-profit university Education Management Corporation and for buying up New York City taxi medallions...
...The Hertz Corporation must look at AMC Entertainment and wonder what might have been. Hertz, pummelled in the early weeks of pandemic, filed for Chapter 11 bankruptcy in May last year....
...The company’s shares got a boost after rental group Hertz said it had ordered 100,000 Tesla Model 3 sedans to electrify its fleet. More here....
...of two men found dead in a hotel room in Missouri; British prosecutors had seen the men as potential witnesses in a corruption probe into the multibillion-dollar mining house, Eurasian Natural Resources Corporation...
...Rental car mainstay Hertz Corporation is learning the hard way what happens when both bets go sour. On Friday night, Hertz filed for chapter 11 bankruptcy citing $19bn in total debt....
...The impact was startling: in non-financial corporations, leverage fell as a percentage of total assets from 63 per cent in 1999 to just 42 per cent in 2010. There would, of course, be losers....
...“Equity financing has double taxation: you pay corporation taxes, and then shareholders pay tax on the dividends.” says Markus Brunnermeier, an economics professor at Princeton University....
...Look at Hertz. Look at J Crew and Neiman Marcus, which have filed for bankruptcy....
...Hertz: buyer beware The last time we visited rental car company Hertz, things were getting a little out of hand....
...Finally, in the FT, a late shout out to a wonderful Weekend essay from last week by Noreena Hertz on loneliness, and how it became a defining emotion of the 21st century....
...Ryan also serves as a board member of the Fox Corporation. Smart reads Financial flourish DD thinks of itself as the best newsletter in global finance....
...“It's very ambitious and it’s going places,” said an adviser to large corporations in the EU....
...PG&E Corporation filed its Chapter 11 plan in early September having found itself with a $30bn liability after accidentally setting a lot of California on fire....
...Mr Frissora had no previous experience in gaming, having been chief executive at Hertz and Tenneco....
...His tenure at Hertz attracted scrutiny from activist investors, including Carl Icahn, and ended in 2014 after the company disclosed accounting errors....
...Here’s a stylised version of how LKE works for autos: A company like Hertz, Avis or Budget owns a fleet of cars. The cars in that fleet depreciate according to standard accounting rules....
...The American podcast, Twenty Thousand Hertz, hosted by the sound designer Dallas Taylor, has, in the past, examined the effects of noise pollution, the evolution of accents and why some sounds are pleasant...
...This is because any corporation tax cut will have hugely differential effects, due to the varying success with which companies have found ways to exploit the tax code....
...He believes that organisations with people from diverse backgrounds are stronger, and he has previously advocated for change at Hertz, Walgreens and United Airlines....
...Eve Burton Senior VP and general counselHearst Corporation Eve Burton is a member of the board and heads a high-energy team at Hearst Corporation managing legal services for over 360 businesses....
...AIG 70 Pippa Dale head of global market roadshows, BNP Paribas 71 Siobhan Martin executive director, HR UK and Ireland, Mercer 72 Brian Casebolt vice-president, merchandising and ancillary revenue, Hertz...
International Edition