Hertz Fix in Dollar Thrifty Deal Fails as Insider Warned

To preserve competition in the rental car business when No. 2 Hertz wanted to buy No. 4 Dollar Thrifty, U.S. regulators had a fix. Industry veteran Sandy Miller warned them it would blow up. He was right.

Miller had an inside view. When the Federal Trade Commission gave preliminary approval for the deal a year ago, it demanded Hertz spin off its Advantage Rent A Car business to a firm where Miller, 60, would be chief executive officer.