The company was begun by Walter L. Jacobs in 1918, who started a car rental operation in Chicago wit

The company was begun by Walter L. Jacobs in 1918, who started a car rental operation in Chicago with a dozen Model Ts. In 1923, Jacobs sold it to John D. Hertz, president of Yellow Cab and Yellow Truck and Coach Manufacturing american airlines flyaway vacations Company, who renamed it the Hertz Drive-Ur-Self System . The company has passed through a number of hands, including General Motors, RCA, and United Airlines. As a public american airlines flyaway vacations company, Hertz was traded on the NYSE under the symbol HRZ until the purchase of outstanding stock by Ford Motor Company.
From 1994–2005, it was a wholly owned subsidiary of Ford Motor Company. On June 13, 2005, Ford issued a notice that Hertz would be spun off in an initial public offering. On September 13, 2005 it was announced it was to be sold to a private equity group (composed of Clayton Dubilier Rice, The Carlyle Group and Merrill Lynch Global Private Equity) for $5.6 billion in cash and debt acquisition. american airlines flyaway vacations The sale was completed on December 22, 2005.
Despite its past affiliation with Ford, the rental fleet of most Hertz locations no longer consists exclusively of Fords and Ford brands such as Mazda, american airlines flyaway vacations Volvo, american airlines flyaway vacations Mercury and Lincoln. It is not uncommon to find Hertz rental cars from non-Ford companies such as Toyota, Hyundai, Kia and General Motors. visit Hertz Car Rental
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