Teamsters Call On Dollar Thrifty Board to Redeem Poison Pill
Board's contradictory strategy erodes shareholder value; threatens merger options, say Teamsters.
The followingpress release was issued today by the International Brotherhood of Teamsters.
WASHINGTON - In a July 11, 2011 letter to the Dollar Thrifty Group Board of Directors, International Brotherhood of Teamsters General Secretary-Treasurer C. Thomas Keegel called on the company to redeem its poison pill and follow a sound strategy to maximize shareholder value and advance the interests of the company and its stakeholders.
Dollar Thrifty investors lost out last year when a bidding war by rival companies Hertz and Avis was thwarted by an incoherent board strategy. A recommended offer by Hertz was rejected by shareholders after the board refused to seriously consider a higher price from Avis. Hertz walked away, and Avis began to work with Dollar Thrifty on antitrust review without any formal offer on the table.
Then, less than a year later, Hertz returned with a higher offer. This offer was immediately rebuked by the board, which implemented a poison pill provision less than a week after the offer. At the same time, the board announced it would cooperate with Hertz in its anti-trust review. These conflicting actions confused not only investors but Avis, which abandoned its takeover efforts in favor of acquiring its European operation. The share price, which had risen on hopes of a higher offer from Avis and a potential bidding war, fell to the level of the Hertz offer and has remained there ever since.
"How can Dollar Thrifty investors or employees have confidence in this board when they can't seem to figure out which way is up?" Keegel said. "The Teamsters urge the board to immediately redeem the poison pill and begin negotiations with Hertz for a friendly offer. Teamsters understand that you will not get the deal you want without negotiating for it."
Founded in 1903, the International Brotherhood of Teamsters represents 1.4 million hardworking men and women in the U.S., Canada and Puerto Rico including 11,000 workers in the rental car industry.
More Rental Operations

Rethink The Future To Avert A Race To The Bottom
Rental car operators heard a sobering industry message and a stern challenge at the close of the International Car Rental Show.
Read More →
DriveItAway, Free2move Plan Shared Fleet Program for Independent Rental Fleet Operators
Vehicles would be placed with participating rental operations to support car renter demand and provide additional fleet capacity.
Read More →
Stellantis Recalls 1.3 Million Jeep Vehicles Worldwide Over Fire Risk
Stellantis is recalling more than 1.3 million Jeep Wrangler and Gladiator models worldwide over a fire risk linked to power steering pump wiring.
Read More →
Green Motion And U-Save Open Rental Operations In Guatemala
The brands will open their first rental car outlets in the country at La Aurora International Airport in Guatemala City.
Read More →
U.S. Business Travel Drives $623 Billion+ in Economic Impact as Spending Reaches $538 Billion
The data also underscores the industry’s strong multiplier effect across the U.S. economy, revealing that each dollar invested in business travel in 2024 generated $1.16 in GDP.
Read More →
Rental Fleet Sales Skating Just Above 2025 Levels
The U.S. economy's continued growth and positive business investment are creating a favorable environment for fleet vehicle demand.
Read More →Grow Your Rental Business Beyond Cars
Rental fleet operations are facing numerous evolving challenges and opportunities from AI technology to rate and revenue management, to customer service and business growth.
Read More →
Using AI to Create Clarity, Not Conflict, in Rental Car Damage
Rental companies still need people, policy, judgment, and thoughtful implementation, with operators remaining in control of the customer experience.
Read More →
Get Ready To Roll: No Stopping Self-Driving Rental Cars
The autonomous mobility technology revolution will move at its own pace, but sooner rather than later.
Read More →
Southwest Airlines Selects CarTrawler For Its Car Rental Booking Platform
The platform is designed to allow customers to compare and book rental vehicles more easily during the travel booking process.
Read More →
