Monday, August 17, 2009

Hertz Acquires, Car Sales Technology

Automoti is a blogging client of mine :

Online Provider of End-to-End Technology Solutions for Hertz Fleet Sales

Press Release

Source: The Hertz Corporation
On Monday August 17, 2009, 1:46 pm EDT
Companies:Hertz Global Holdings, Inc.

PARK RIDGE, NJ--(Marketwire - 08/17/09) - Hertz Global Holdings, Inc. (NYSE:HTZ - News) announced it has acquired the assets of Automoti Group, Inc., an online marketplace for consumers to directly purchase used cars at discounted prices. Automoti's end-to-end solutions are currently utilized by the Hertz Rent2Buy program which enables consumers to rent a car for up to three days prior to purchase. Terms of the acquisition were not disclosed.

Mark P. Frissora, Chairman and Chief Executive Officer of Hertz, commenting on the acquisition, said, "A key element to Hertz's reengineering has been its fleet sales, with an overall strategy of diversifying the sales channels used to sell vehicles. provides user-friendly technology that will enable Hertz to leverage an e-commerce platform to further develop our Rent2Buy program. By acquiring Automoti's technology, we will now own the best online car sales system, enabling Hertz to pre-sell vehicles while still on rent which will increase the revenue earned per vehicle sold."

The transaction provides Hertz with the rights to the Automoti website and technology platform and intellectual and tangible property pertaining to the platform.

John Thomas, Executive Vice President, Global Supply Chain Management of Hertz, said, "Hertz's newly developed Rent2Buy program is a fast-growing retail sales channel designed to be customer friendly, with a 3-day, try-before-you-buy test drive. Through Hertz Rent2Buy, we can extend our product offering by providing customers with a financially attractive solution for purchasing late model used vehicles in a simple, streamlined way."

Car buyers interested in a quality, used vehicle simply need to select and reserve a vehicle of their choice for up to three days at If the customer decides to buy the car, they keep it, complete the purchase process and the rental cost is credited against the purchase price of the car. If the customer decides not to buy the car, they return it to the renting location and the transaction is treated like a standard rental. Hertz Rent2Buy provides customers with substantial savings off of retail prices and a no hassle, one price buying experience. Hertz Rent2Buy is currently available in 8 states: Alaska, California, Florida, Hawaii, Illinois, Massachusetts, New Jersey, and New York, the Company plans to quickly expand the program to other states in the coming months.

The Hertz Corporation (, a subsidiary of Hertz Global Holdings, Inc. (NYSE:HTZ - News), is the world's largest general use car rental brand, operating from approximately 8,000 locations in 145 countries worldwide. Hertz is the number one airport car rental brand in the U.S. and at 42 major airports in Europe, operating both corporate and licensee locations in cities and airports in North America, Europe, Latin America, Australia and New Zealand. In addition, the Company has licensee locations in cities and airports in Africa, Asia, and the Middle East. Product and service initiatives such as Hertz #1 Club Gold�, NeverLost� customized, onboard navigation systems, SIRIUS Satellite Radio, and unique cars and SUVs offered through the company's Prestige, Fun and Green Collections, set Hertz apart from the competition. In 2008, the Company launched Connect by Hertz, entering the global car sharing market in London, New York City and Paris. Hertz also operates one of the world's largest equipment rental businesses, Hertz Equipment Rental Corporation, offering a diverse line of equipment, including tools and supplies, as well as new and used equipment for sale, to customers ranging from major industrial companies to local contractors and consumers from approximately 350 branches in the United States, Canada, China, France and Spain.

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Thursday, August 06, 2009

CNN: More View Obama's Presidency as a 'Failure' Than Bush's

After 6 Months, More View Obama's Presidency as a 'Failure' Than Bush's

A rather surprising finding from the newly released CNN poll. Question three on the national survey of 1,136 adults (which includes an oversample of African-Americans) asks, "Do you consider the first six months of the Obama administration to be a success or a failure?"

Thirty-seven percent (37%) said they believe the Obama administration is a "failure," while 51% consider it a "success" and 11% say it's still "too soon to tell."

An identical question was asked of the Bush administration in an August 2001 CNN/Gallup/USA Today survey. At the time, 56% said the Bush administration was a "success" while only 32% considered it a "failure."

Wednesday, August 05, 2009

what’s the point of all being covered if you cant get any health care?

Health Care Reform :

I see nothing in the Presidents Plan to alleviate the main short falls the current system.

In simple terms the main issue is our current 3rd Party Payer System separates the health care itself from the people responsible for paying the bills. This creates incentives to use the system as much as possible with no regard to need and interferes with the doctor patient relationship by a distant administrator who has no vested interest in a healthy out come only cost.

This type of system creates three major short falls :

1) access

2) choice

3) coast

The Presidents Nationalization of Healthcare does little to address these issues and in fact will exacerbate these very problems.

Replacing Insurance companies with a single government payer will even further distance the payment of services form the health care itself . It will also replace what little competition we have now with none at all. The Nationalization of Healthcare will also result in turning over your health care to the very regulators who through the byproduct of their attempt to regulate have reduced services, limited access ,limited choice and raised costs . Again the administration is trying to make the insurance industry the scape goat but has offered no evidence that the a Governmental Super Payer would act any differently and countless experiments across the world would suggest that Nationalization would make these issues even worse.

Basically one can take all the same arguments against the current system and make them against the Nationalization proposal. History has show us time and time again that diminished competition equals increased coast and lower levels of service. History has also shown us that over time single governmental systems cut services to cut costs. Are you willing to wait 2 years to get an MRI? Are you willing to be told your autistic child is a cost drain on the system and its not worth it or your Grandmother has out lived her usefulness and she should do her bit and be put to sleep?

This leaves the proponents of Obamacare with one issue ;universal coverage. The problem is high cost and poor service eventually leading to rationing effectively make this argument moot.
So the question remains what’s the point of all being covered if you cant get any health care?

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Monday, August 03, 2009

the Summer of Discontent Continues

Although I remain very skeptical until Obamanomics runs its course and people come back to their senses. There have been some peculiar events in recent weeks that have sent the market upward and onward. Mind you the Dow Jones Industrial stood at 12000 in 2000 so a substantive rally signifying a move toward more openness and individual freedom ie an improved economic picture would be a heavy volume move to new long term highs. However until the growth of government is curtailed and paired back I see little or no chance of this happening.

What’s happening now is that the market is reacting well to the prospect that Obamanomics will have no lasting impact on the economy except for the physiological damage that has been inflicted on the current generation. The second and pervasive trend is the old adage "you cant fall off the floor" . Try ,try and try as you will even this group of 70's generation egoists can’t make things worse ,its just not possible given the totality of the socio-political and economic situation in America.

You see "failure" as a philosophy is finite while success is infinite. History has proven time and time again that when government grows both the economy and equity markets decline or stall. Like it or not equity markets are like the heart beat of a healthy nation . What’s important for a casual observer to remember is the markets react in advance of future trends in the social political and economic environment. It no surprise that this rally began in March when this blogger pronounced Obama as a failed President.

So what are the events ? First I would not underestimate the significance of the 'Cambridge police are acting stupid" remark . For many this was the first look at the "real " Obama without the media filters and political spin. It was a kin to political Hari Kari . Second both "Obamacare" and "Cap and Tax" have been shown for what the truly are a ruse to nationalize and control more of the economy. While the White Houses rhetoric has fallen into repetitive " you'll get what ever you want and we will make someone else will pay for it" seems to be falling more and more on deaf ears as many finally realize that they too will be paying for it . Its as we used to say they have gone back to the well once to often and the public is becoming more and more weary as policy failures continue to mount. The net effect is the continued erosion of poll numbers leaving the White House with a very light bag of political tricks and a very small arsenal of policy options.

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