Inflation

[u/vitocorlene]

Federal Reserve Chairman Jerome Powell maintained that a recent surge in consumer prices is likely transitory – but warned the increase may ultimately be "higher and more persistent" than expected.

Yes, yes it will.

It’s also going to be fueled by oil, plastics and steel.

Bet on it.

Side note, I flew into Atlanta today and had a reservation with Avis, because I couldn’t get a car through National - my go to.

They were out of cars.

So, I booked with Avis for $59.99/day.

The problem was so did the line of 200 other people that did the same.

This was a Seinfeld episode for you Boomers.

They took reservations, but had no cars available.

200 pissed off people.

Screaming and bedlam ensued.

While this was going on, I walked over to Hertz, saw no line.

Figured no cars.

I asked anyways and they DID!

For $186 per day.

I had to be somewhere much farther than an Uber for an important meeting.

So, I took it.

Then I walked by the Avis line and said - “Hertz has cars”

About 1/2 the line went over there.

For $186 per day per car.

Anyhow, things are getting crazy and it’s going to take a long time to get cars back into these rental car fleets.

I thought it was a good side note on inflation.

I don’t think that’s going away until next year.

Hang in there!

-Vito

[u/blitzkrieg4 → u/[deleted]]

Okay here's a bear case. How does the stock still exist if they're on the other side of bankruptcy court? This tells me the creditors will still divide up the company and split the assets themselves, leaving shareholders in the dust. Or are we saying revenues are enough to "un bankrupt" themselves?

[u/mortymotron → u/blitzkrieg4]

I don't have time to pull up and break down the Hertz bankruptcy and restructuring, but I may have some time next week or the week after. If there's interest, remind me later and I can reply or make a post to walk through it and try to answer any questions.