Tuesday, September 19, 2006

Hertz Adds Ford Bankruptcy Scenario to I.P.O. Filing

Apparently, Ford’s woes are worrying Hertz. In its latest amended prospectus, filed late Monday with the Securities and Exchange Commission, Hertz added several sentences describing how the car-rental company would fare if Ford should go bankrupt.
Such an event would have serious side effects for Hertz because of an agreement in which Ford will buy back used vehicles from Hertz at set prices.

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