When you're living life on the edge, every short-term problem can turn into a life-threatening disaster. If it wasn't the pandemic, it would be something else.

When you're living life on the edge, every short-term problem can turn into a life-threatening disaster. If it wasn't the pandemic, it would be something else. The rental car industry is living paycheck to paycheck. Hertz (and Avis and Enterprise and Dollar Thrifty and ...) have endemic and structural problems. Indeed, read this article, which was originally written in 2012 and updated in 2018... before the pandemic: https://www.fool.com/investing/general/2012/07/13/surprising-facts-abut-the-rental-car-industry.aspx https://www.fool.com/investing/general/2012/07/13/surprising... "... this interferes with the ability to develop a moat around their products and/or services. And on a practical level, it impedes margins and profitability. Avis and Hertz, for instance, have been profitable in only one and two of the last five years, respectively."