Aug. 3, 2014, 5:35 PM
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Jun. 2, 2014, 2:52 PM
- The Pennsylvania Insurance Department is out with a warning to motorists to check their insurance policies before jumping into a ride-sharing program.
- Insurance coverage for vehicles being driven by someone other than an owner in a ride-sharing program is limited in many cases, notes the group.
- The development could be a concern for ride-sharing players such as Lyft (owned by GSV Capital), Zipcar (CAR), and Uber.
Jun. 2, 2014, 1:49 PM| Comment!
May. 7, 2014, 4:22 PM| Comment!
May. 6, 2014, 5:35 PM
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Feb. 19, 2014, 4:20 PM| Comment!
Feb. 19, 2014, 12:10 AM| 5 Comments
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Jan. 9, 2014, 2:05 PM
- Private on-demand car service Uber says it will cut fares in 16 markets across the country.
- The price drops vary widely from 2% to 34%.
- The upstart company is more of a thorn in the sides of taxi companies than the car rental giants Avis Budget (CAR -0.5%) and Hertz (HTZ -0.4%), but its recent round of $258M in financing from Google Ventures keeps it a concept to watch.
Dec. 31, 2013, 10:01 AM
- Shares of Hertz Global (HTZ +6.5%) shoot up on heavy volume a day after the company adopted a poison pill in reaction to an unusual amount of recent buying.
- CNBC's David Faber speculates a large activist investor is behind the action with a master plan to separate the equipment leasing business and increase the company's buyback allowance.
- Wells Fargo's Richard Kwas noted that investors may be drawn to the name due to the value creation of a potential spin-off of Hertz's equipment rental unit. And, Hertz (+69.3% on the year) has lagged peers like Avis Budget (+103.5%) and United Rentals (+70.7%) in 2013.
- Wellington Management is the largest shareholder of Hertz with a 9.2% stake.
- Avis Budget (CAR +2.2%) is also higher off the fresh buzz in the car rental space.
Dec. 11, 2013, 7:43 AM
Dec. 5, 2013, 3:22 PM
- Zipcar announces it will start its car-sharing service at Chicago's O'Hare and Midway airports.
- The subsidiary of Avis Budget (CAR -0.4%) is now in 26 airports globally.
- What to watch: The acquisition of Zipcar by Avis drew some criticism because of the hard-to-ignore fact that the car-sharing service could rep a trade-down for some consumers. After Avis promised $50M-$70M to $70M in deal synergies, it might be on the hot seat to deliver.
Nov. 25, 2013, 1:57 PM| Comment!
Oct. 31, 2013, 2:30 PM
Oct. 30, 2013, 4:43 PM
Oct. 30, 2013, 12:10 AM
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