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The Company is engaged principally in the business of renting cars and renting equipment.
I work as a member of the outside sales force for Hertz and understand the rental market very well. I spent 8 years in outside sales for Enterprise Rent A Car before be recruited to Hertz and have a very good inside view of both benchmark companies. Enterprise has gotten too greedy in the past couple of years! What is their mission statement? We never want to be the biggest, just the best!! Well over the past couple of months more and more of their long time dedicated customers are starting to look to Hertz and other companies as they see failure after failure on the service side they pride themselves on. Now, watch out for the newcomer! Hertz now has their Hertz Local Editions opening up all over in the inner city, off airport market. They are doing so at a steady pace and finally offering customers a choice in doing rentals in their local hometown markets and its causing Enterprise to get competetive in pricing. Just at a time when Enterprise is requesting their vendors in some markets to drop their charges by 5%, they are raising their negotiated rates in most markets by 5%. This is causing alot of heartburn to those companies that are looking to save their own bottom line on business travel. Hertz has hit this market very strongly as of late and in most instances are either leaving rates steady or offering slightly better rates to beat the competition. It is being well received by corporate partners and many are starting to make their switch. Hertz offers many more options to the business renter and to employees of their corporate partners. Top benefit of all is Free Gold Club Membership to all employees of a corporate partner, thats a savings of $60.00 a year. Throw this on top of the fact that it cost absolutely nothing to sign your company up for a corporate account!! It is definately seeing its success and increasing Hertz return customer base. Hold on to that Hertz stock and dont let the markets scare you. Hertz is strong and doing everything in its power to minimize cost through its dedication to Lean Practices. Combined with a dedicated, professional and courteous work force out in the branches, they are going to make things happen. When the economy makes its turn for the good, Hertz will be in the lead by doing the right things for the right reasons today!
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