Buy now, or hope that the pound rebounds soon.
In 2004, Raechel and Jackie Houck were killed when they were in a fiery accident in the 2004 Chrysler PT Cruiser they had rented from Enterprise. The girls' mother, Cally Houck, sued Enterprise when it was discovered that their Chrysler was the subject of a recall to repair a power steering hose leak over a potential fire issue, yet the car hadn't been reparied before it was rented. The five-year trial concluded in 2010, with Enterprise admitting negligence, at which point it was ordered by a ju
Hertz and Avis have been fighting to get their hands on Dollar-Thrifty for over a year now, with the latest volley coming from the Hertz camp. According to Bloomberg, the world's largest airport rental car company has offered $72 per share for Dollar-Thrifty, or 24 percent more than a recent offer from Avis. The offer consists of of $57.60 in cash and .8546 Hertz shares per share of Dollar-Thrifty.
Economists and talking heads argue endlessly about our economy on a daily basis. "It's back!," "It's almost back!" and "It's never coming back!" seem to be the leaders among the varied viewpoints we hear and read about. One sector that has apparently begun to rebound is the car rental business. Not necessarily in financial terms, but from the standpoint of customer satisfaction, America's rental car companies are returning to to a position last seen in the pre-recession days.
With the U.S. dollar's decline against the euro, the Wall Street Journal's crystal ball gazers have determined that the price of vehicles shipped over from the old world are set to rise in the next year. European manufacturers have been able to lock exchange rates by buying contracts that keep currency fluctuations at bay, but for some automakers abroad, that's about to change. Those contracts are set to expire soon, and that means either prices will rise or European automakers will have to begi
General Motors CEO used the bully pulpit at GM's annual shareholders' meeting to repeat a complaint that has been made several times in the past few decades (and will likely will be heard many times again) - the Japanese government is artificially holding the value of the yen low relative to the dollar to help its exporters. The same complaint was recently issued by Chrysler's Tom LaSorda as well. A lower value for the yen makes it easier to stick a lower price tag on an auto that's importe
At the Mackinac Policy Conference in Michigan on Thursday, Chrysler president and CEO Tom LaSorda said he plans to call on George W. Bush to confront Japan about an artificially low yen rate that he maintains unfairly allows Japanese automakers up to a $3,000 advantage per vehicle over their American counterparts. LaSorda said that he, Rick Wagoner and Bill Ford plan to raise this topic, along with health care and energy policy, with President Bush in a meeting scheduled for later
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