Hertz was tried a stock offering but had to cancel it.
Hertz was tried a stock offering but had to cancel it.
Originally posted by: tom
Hertz was tried a stock offering but had to cancel it.
I've spent about 20 years in equity research and I haven't seen anything this crazy since the internet bubble. The fact that a bankrupt company could even consider an equity offering, while stating in the press release that such equity was likely worthless, absolutely blows my mind. The fact that it almost got done is even crazier.
Mike
With the casinos shut down, the stock market has been the only gambling venue available for many. If the markets were rational, the crash in March shouldn't have been followed by a bounceback. Things have not gotten better.
Travel-related industries: the ones that will be hurt the most are those that are capital-intensive and have infrastructure that has to be utilized constantly in order for a profit to be generated. So:
Cruise lines. Glug glug. Nine out of ten former cruisers wouldn't board a ship at gunpoint now. A confined space shared with thousands of seniors, for days on end. Bankruptcy for every single line, perhaps partially forestalled with consolidations.
Airlines: Southwest will be the only one standing.
Big fancy-ass hotel chains: Permanently crippled by the fact that many businesses will make the shift to online meeting platforms permanent. There really isn't any reason for Sam Salesman to fly to Kansas City to sit at a table and talk, is there?
Small not-fancy-ass hotel chains: Hurt, but not fatally. The ones that offer bargains will survive.
Casinos: Pretty much forget it, despite the efforts of Vegas casinos and others to zombify. Some casino corporations have the cash on hand to wait it out until there's a vaccine.
Brothels: Kaput. No such thing as six-feet-away parties.
Returning to the Hertz offering, wasn't it a character in a Kurt Vonnegut novel who saw a truck go by with "HERTZ" on its side and thought it was screaming in pain?
Originally posted by: Kevin Lewis
With the casinos shut down, the stock market has been the only gambling venue available for many. If the markets were rational, the crash in March shouldn't have been followed by a bounceback. Things have not gotten better.
Travel-related industries: the ones that will be hurt the most are those that are capital-intensive and have infrastructure that has to be utilized constantly in order for a profit to be generated. So:
Cruise lines. Glug glug. Nine out of ten former cruisers wouldn't board a ship at gunpoint now. A confined space shared with thousands of seniors, for days on end. Bankruptcy for every single line, perhaps partially forestalled with consolidations.
Airlines: Southwest will be the only one standing.
Big fancy-ass hotel chains: Permanently crippled by the fact that many businesses will make the shift to online meeting platforms permanent. There really isn't any reason for Sam Salesman to fly to Kansas City to sit at a table and talk, is there?
Small not-fancy-ass hotel chains: Hurt, but not fatally. The ones that offer bargains will survive.
Casinos: Pretty much forget it, despite the efforts of Vegas casinos and others to zombify. Some casino corporations have the cash on hand to wait it out until there's a vaccine.
Brothels: Kaput. No such thing as six-feet-away parties.
Returning to the Hertz offering, wasn't it a character in a Kurt Vonnegut novel who saw a truck go by with "HERTZ" on its side and thought it was screaming in pain?
I love that about the Vonnegut novel. I have no idea if he wrote that, but it sounds like something he'd say.
The companies that have the best shot of surviving are the lodging companies, given that they don't actually own most of their properties. Sure, some of them will go out of business, but the ones that survive will pay them fees.
Originally posted by: Michael Friedman
I love that about the Vonnegut novel. I have no idea if he wrote that, but it sounds like something he'd say.
The companies that have the best shot of surviving are the lodging companies, given that they don't actually own most of their properties. Sure, some of them will go out of business, but the ones that survive will pay them fees.
"Breakfast of Champions." You can find out ANY obscure thing on the internet.
