In a recent audit, Denver Auditor Timothy O’Brien found that the Denver International Airport lost nearly $1.5 million in rental car concessions over two years.
In addition to releasing its rental revenue for fourth quarter 2014, Hertz Global Holdings Inc. also announced 21% of its new fleet was delivered and review and investigation of its financial records are ongoing.
Hertz will be on an accelerated buying and selling schedule in the next six months. How might that affect the market?
In addition to restating 2011 financial statements in June, the Audit Committee of the Hertz Board of Directors has found that the 2012 and 2013 annual and quarterly financial statements must also be restated and can no longer be used.
Due to the ongoing financial records review for 2011, 2012 and 2013, Hertz Global Holdings has delayed the filing of its second quarter 2014 results.
Hertz Global Holdings Inc.’s Audit Committee of the Board of Directors has found that the financial statements for 2011 can no longer be used and must be restated. In addition, Hertz needs to fix the 2012 and 2013 statements to reflect these errors.
California Assemblyman Chris Holden’s 359 bill, which would streamline airport rental car agreements, has been approved by the California Senate.
Hertz is suing a research firm that lists it as one 20 companies with the highest probability of declaring bankruptcy. Who made the claim, on what basis and how is the market reacting?
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