No Government Bailout Dooms Rental-Car Bonds [Yahoo! Finance News]
Avis Budget Group, Inc. (CAR)
Last avis budget group, inc. earnings: 2/19 04:00 pm
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Source: Yahoo! Finance News
Opinion) -- Investors in Avis Budget Group Inc. and Hertz Global Holdings Inc. are learning the hard way what happens when widespread government bailouts don’t quite reach every corner of the U.S. economy.No matter where you look, whether it’s their stock, bonds or the asset-backed securities linked to their fleets, these rental-car companies are clearly feeling the squeeze from the coronavirus pandemic and the economic standstill. Avis shares have tumbled 76% since Feb. 20, to about $12 from $50, while Hertz is down more than 80% to about $4. Those are steeper declines than even shares of the three largest U.S. airlines, which reached an accord with the Treasury Department on federal aid just last week.The chief executive officers of Avis, Hertz and Enterprise Holdings Inc. had no such luck. They sent a joint letter to the U.S. government in mid-March requesting that the rental-car industry be included in any economic stimulus package, hoping to receive tax deferments and reduced rev
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CAR
Earnings
- 10/31/24 - Miss
CAR
Sec Filings
- 11/12/24 - Form SC
- 11/12/24 - Form SC
- 11/4/24 - Form SC
- CAR's page on the SEC website