The Rise And Fall Of Hertz

Oof, bankruptcy. That Hertz.

My local Hertz never answers their phone. I canceled my reservation and went to Enterprise and they were cheaper and answered the phone on the second ring. I’ll stick with Enterprise.

Hertz has been morally bankrupt for years. Every time I've rented with them, they've charged me for gas afterwards despite a full tank. They knew it wasn't worth me calling their customer service 8 times over $30.

who saw company man's video first before coming here?

How about all the customers that Hertz says stole there cars that they paid to rent then has those customers arrested

Working here was the worst experience of my life. Management is clueless.

I’ve worked for dollar thrifty for over 10 years . We were doing good until hertz bought us and changed everything to the worst 🤦🏻‍♂️

Sky high prices, arrogant, rude and dishonest management. That’s why.

This is a classic example of what you get when it’s more about rewarding already exceedingly wealthy executives rather than doing what’s best for the company or even the average Joe. Hertz has long been one of the least competitive car rental companies on the planet resulting in serious losses yet they still don’t seem to get it. Hertz deserves to fail and their senior management of the week should, but won’t, fail with them. America needs more accountability instead of selfish greedy corporate executives who only care about further expanding their own already massive personal wealth.

I thought hertz was the refresh rate for screens.

Hertz is horrible, at least internationally. I've tried twice to rent a car from them and they try to rip you off. You reserve it for one price and go pick it up and they try to charge you 3x what your reservation was for. They deserve to fail.

Rented hundreds of cars over the decade and only once it was with Hertz. All other times the prices were consistently much higher. Plus their website is awful, created by kindergartners, just a huge waste of time to even try to use. Much simpler to use their competitor's simplified system.

We need a car rental company for the modern age. Transparent and predictable pricing and counters that don’t try and scam consumers with extras and add ons.

Literally used Hertz once because the insurance company had to go through them after an accident. Everytime I travel or need extra room, it's either Enterprise, or U-Haul, with a home depot truck leased for a day here or there.

might have gotten better revenue streams if they weren't having all their customers arrested

Hertz had provided me with one of the WORST customer experiences of my life

Feck hertz. They charged me a smoking fee... I haven’t smoked in 8 years prior to renting the car in June.

Businesses come and go.

I once paid close to $1500 USD to rent a car in Orlando, Florida for about 5-7 days...
It was INCREDIBLY expensive.

Who else reads comments at the same time watching the video ?? 😃

Thought this was a company man reupload for a second

They had terrible service, they would hire whoever applied and training was poor, their fleet was dirty most of the time, no full tanks of gas, it was just a matter of time.

I worked here for about a year during college and learned so much about psychology. It gave me tough skin and prepped me for the world.

I love hertz, I tried to rent a car and drop it off in another location and it was a total wild wild west rental venture. I can write an entire page of complaints.

Bankruptcy?
That....Hertz

3:10 ... thats a GREAT SCREENSHOT OF A BEAUTIFUL CITY IN AFRICA !
Thank you 👌🏿👌🏿👌🏿

I saw a guy in a Hertz van delivering packages for Amazon today

$1 million in 1925 is $15 million, not billion

Thank you cnbc for your free awesome mini documentarys!

Only bailed out the airlines, not the businesses that go with them

I rented from Hertz this week for the first time. They were considerably cheaper than anywhere else I checked. They also didn't charge extra for a one way rental.

Hertz was a bad company! They always charge people gas fees when you bring the car back with a full tank. They did it to me

This year has been crazy. The scary thing is, it's only been about half the year. We still got 4 months left 🙃

Not related : do you know what that place is at 3:07 where it says Europe? 🙏

File false police report and let customers got arrested are just simply unacceptable and ridiculous!

I worked for Hertz for 17 yrs from '91 here in Australia. Great company to work for they were.

The phrase "SEC" and "best we can" should never be in the same sentence, unless it is something like "Those of us at the SEC, do 'the best we can' to make all of the cocktail parties held by people we are supposed to regulate".

Got charged for a chip on a windshield that was chipped before i took possession from hertz. I can see the agents smirking as I paid the bill. I was so angry I wished this company go bankrupt.... Kind of feel bad now 😕

There's a lot of industrial equipment at my work site thats rented from Hertz, crazy news!

Excellent piece of journalism

HERTZ has been a crap company for over 10 years. They once claimed my friend's car flew in the air at the speed of 3 mph to land on top of one of their vehicles. True story.

Good! They deserve it. I worked at the call center in Oklahoma City 27 years ago and quit after four months. They treat their employees like crap, and their employees tell on each other. I have since finished school, have a good job, and have never rented from Hertz.

Hertz is celebrating an epic comeback. Not everyone's pleased: It really Hertz when you rent from Hertz they are a really tricky company

I'm not sure if it's always been this way, but when I was looking at cars for sale at Avis, they were selling 2019 midsize sedans for $10,000 and it confused me why they're so cheap

Enterprise really is the best for a reason... i have two kids and when my car was in the shop (QX60) my insurance gave me a sentra... don't get me wrong it is a rental if it was just for me fine... but my 3 row SUV was outta commission! The manager over at the Enterprise I visited was confused my insurance company would set me up with a small car. He gave us a murano and didn't charge us the difference in fee. That is why Enterprise is king!

I’m not surprised. Their fleet and prices don’t compare with the Enterprise group. Most of Hertz cars are beat up, with high mileage.

Knowing that when you rent a car from Hertz, that you risk being arrested for grand theft auto, is a little disturbing.

If you couldn't survive in pandemic, that says you never had loyal costumers. You were just an opportunist, and you're meeting your karma now.

I’ve only rented hertz lmao, everyone hating but I’ve always had cheaper rates and even no extra charge if I picked up a day early. Only thing is that sometimes they weren’t very clean

Un-competitive pricing, #1 reason why Hertz was never on the radar. I've rented with Avis, Enterprise, and Alamo, and always had a good experience.

Rented a Turo BMW X6 which was fun until my family and I were left stranded in Niagara Falls (US) as the car owner wasn't making his payments leading to the car was repossessed there. Turo couldn't get a replacement car nor did they pay for the inconveniences experienced. I ended up taking a taxi to Buffalo and using an Enterprise rental back to Washington DC.

Company man did it first

Yes, Company Man pulled the trigger first and did a good job, but CNBC also provided great additional details that we didn’t know. Both sources combined gave us the full story.

When Kanye said “but everybody hertz, but I don’t judge rentals” 😭😭😭😭

Crazy how Company Man beat them to this topic.
Not complaining though. They both have their own perspectives.

I worked for Hertz. It was easily the most toxic work place I’ve worked.

As a regular business traveler for 30+ years, I almost never used Hertz, because they consistently had the highest rates. Following the bankruptcy, they became very competitive on pricing, and they quickly became my go-to rental company. Now, they have reverted to top-of-the-market pricing, so I have dropped them again. Over the years, I have used every rental company, and I find no significant difference between them. Like gasoline, it is simply a commodity, and I will take the lowest price available.

Just used them. They tried to scare me to use their toll tag saying i had to use 3 different tools to my final distination. I never used any. I prepaid for my car but still had to leave deposit of $200. Plus they never told me i had to pay another hour for picking up early. I would have waited another 20 minutes until pickup time. They just charged me without asking if i wanted to be charged or wait

didnt company man just make a video on this?

Budget, Avis and hertz are the only car rental companies I can rent from under 25 without a sky high fee (USAA Waiver). I honestly don’t know what I would do without them. I literally rent from hertz at least once a week even during the pandemic

Great results of Hertz falling down hill for falsely accessing customers that have been making them rich.
Never over looked the people that butter your bread.

The title should be "From Car Rental to Car Retailer"

Their spin off-HERC has done very well, the fleet and construction rental business is booming.

I do not see Uber/Lyft as competitors, but allied. With more alternatives, owning a car makes less and less sense, and thus create a lot of opportunities for private car renters like Hertz. As someone who took that path, I can say I never rented car as much as before. Before, I would only rent if I take the planes, and for short travel destination, I would even ditch the plane and drive to there. As for Turo, well if you like to book expensive 12 years old Corolla, go for it.

Only old school and some companies rent vehicles from these rentals nowadays there is so many online rentals with vehicles all around the suburbs and you can drop it off any where . Rental car day is over after 100 years don't be surprised.

*Rent the car. Own the memory from jail.*

Hertz will be back. I can’t wait to buy their Stock🍷

I honestly do not trust Hertz anymore after this recent scandal.

I noted in a movie that Hertz also offers heavy machinery rental in certain countries.

I'm still waiting for "The Rise and Fall of CNBC"

Hertz is like Dollar General amongst Target/Walmart

John D. Hertz born as Hertz Sándor in Hungary. Hertz was the founder of YellowCab as well, and you see the logo of Hertz rental is yellow too.

First time I heard of Hertz was in a Ross vlog Creations video. Enterprise is the brand I think of.

I was scammed for an insurance i didnt ask for by one of Hertz agents at Calgary Airport in Canada back in 2017. Aint that too bad, Hertz!

Is anyone else astonished by the fact that 1 million dollars in 1925 is equivalent to 15 billion dollars today!!??!!

Not good for business when you keep having your customers arrested.

Stop stealing Company man 😤

I haven't ever heard of Hertz
*IRRELEVANT*

Why are you stealing video ideas from Company Man?
I mean, I like your videos as well, but the timing is interesting ;)

This reminds me of company man vid

Company man knock offs

new pricing model made them more expensive than competitors. They took on additional debt to grow business again, but then the pandemic hit, and they were not able to service their debt.

Lol i must of misread this or something because i thought yall were talking about Ketchup, mustard, and barbecue sauce.

$15 million, not $15 BILLION, although that would be nice in the 1920s

Stop renting from Hertz unless you want to be arrested for a stolen car

Carl Icahn is the guy that broke up TWA & took the employees retirement money.

They need to sell Hertz Donuts.

I was in Aruba, and Hertz was definitely all over the place. and yes some of the cars are a bit old.

It’s a pretty classic story. Sold off to venture capital firm who loaded it with debt, hired a Shady CEO who cooked the books, went pubic to cash out, Icahn got involved Etc. it was on the path for quite a while.. the latter Is always a sign company is going bankrupt that’s his whole business

Hertz deserves to fail. They have a really nasty history of reporting cars stolen after drivers drop the vehicle off.

5:22 I rented a car from Hertz awhile back. I brought the car back after 3 days. Two weeks later I got a call from them asking when I was going to bring their car back. I never rented from them again.

I recently got terminated from Hertz for reporting in discrimination on two separate occasions. Their open-door policy is the most ridiculous policies ever, probably worse than companies like Target and Wal-Mart. I first went to report how a couple of transporters were asking about my personal relationship status which they automatically assumed that I was a straight Christian (spoiler alert, I'm not). After about 2 months of dealing with that another transporter reported the branch I worked at for excessive foul language and using sexist slurs. A month after that I reported them in for constant physical touching, discussion of religion and politics at the workplace and harassment. A couple of weeks ago I filed another report for the same group for making defamatory transphobic remarks and how I was being left behind for no reason at all. As of today, I got a phone call from HR stating that I was no longer part of the company.

I wouldn't be surprised when this virus is over and they decide to make a comeback Lmao

I thought Hertz was a cell phone service company. lol

company X: going through a down time (a common phase with most companies)
youtubers: time for a 'rise and fall' video

Hertz should keep their fleet and pivot into the online space. Offer on demand, cheap car rentals, for the day through technology innovations just like turo

Just bought a 2019 camry with 24k miles on it for 17.4$$. From Hertz.Got a great deal. My mechanics checked it out and everything is fine. A few scratches and small dings but thats ok. I have a few myself😃. Thanks Hertz!!

Some company's fell hard, and no rise since march 20...
I keep short position in dal, luv, rcl.
i never buy on bottom😣

CNBC are really catching up to Company Man when comes to video ideas nowadays.

Very bad experience as we were overcharged at los vegas airport because our reservation called for a drop off at Reno Tahoe airport!! Reservation was made 3 weeks prior to trip!