Hertz files for bankruptcy

[kakatiya]

Hertz filed for bankruptcy Friday night, the latest victim of the sudden economic downturn sparked by the Covid-19 pandemic.

The company has been renting cars since 1918, when it set up shop with a dozen Ford Model Ts, and has survived the Great Depression, the virtual halt of US auto production during World War II and numerous oil price shocks. By declaring bankruptcy, Hertz says it intends to stay in business while restructuring its debts and emerging a financially healthier company.

[kakatiya]

Hertz paid top executives $16 million in bonuses ahead of its bankruptcy filing

By Chris Isidore, CNN Business

[Pitta]

ee corona ni 

[megadheera]

Shares are up 130%

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Why share price goes up