, Columnist
That Troubled Hertz Car Rental Deal
Buying Dollar Thrifty hasn't made the company a stronger player.
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Talk about fast and furious. It's hard to find better words to describe the skid in car-rental company Hertz Global Holdings Inc.'s stock:
Hertz plummeted 78 percent in the past 12 months, and this week's disastrous earnings report signaled the worst may not even be over yet. The company made a series of strategic mistakes over many years, but at the center of them is a merger that delivered a heap of debt and little else.