Who is getting them?
5 replies (most recent on top)
Hertz did NOT do the right thing. They added language in their initial emergency motion for court approval to pay IF they found it would be more costly not to. But if you read carefully through the entire document and you listened to the preceedings - they did not mention it when they went through the motions in front of the judge and the summary version written for the judge to sign conveniently left that part out. They never had any intention of paying any of the long time employees that they screwed.
Ok, let’s do the math. As an example: Let’s say before they filed ch11 they came to you and told you they we laying you off, but you get severance of $26k. Then right after they filed ch11 they contact you and tell you that due to the bankruptcy they have a cap per the law of $13k and that will be the first thing they ask the judge to do is to pay you if you file with the court. ( Ok, first they knew they were going to screw you before they filed and during the layoff meeting.) After a few court meetings the judge does approve, but does NOT “Direct” Hertz to pay. So Hertz now knows they can play the wait game to screw you again. They now let the bloodsucking vulture companies get your contact information and try to offer you penny on the dollar for your claim. The one that went from $26k, to $13k and now if you sell your claim who knows what it will be $1k? For Hertz they win again. If you sell your $13k claim and that Vulture company goes to the court and Hertz and agrees to pay only $5k of the claim, then Hertz saves first from the cap $26k down to $13k, then now negotiates it down to $5k. Hertz saved $21k at the ex-employees expense and smilies as they once again screwed the 15,000 hard workers who were layed off in April and to including the upcoming November layoffs. If that’s not enough. Think about it, YOU who got screwed are now paying Paul and his team their $8m bonus’ with the money they saved from their severance scheme. It’s just not a good ethical company no matter who is steering that “Sh#tty” boat.
How about paying outstanding severance. Hertz did not attempt to do the right thing and let severance cap @ $13K with no objections. The CEO should amend the severance payout before taking a dime and right the wrong which left so many with thousand owed.
Big Bob will be first in line at the trough. There's no doubt about that.
The S-suite will get more than half of it for doing their jobs. CEO will get over $1M.
Stock is artificially high. It will go back below $1
Car Sales stores are closing
Europe will file bankruptcy by the end of january
Got out delivery service before it got going
Can't buy new cars
Apollo will run the company
Donlen decision sell is not an original idea
No one is renting our cars
etc, etc , etc
PLease explain what they have done above and beyond their jobs to get this money. You have the retention bonuses already.