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Hertz bankruptcy a major road sign toward the future of cars and transportation
It was sad to see the oldest car rental institution in the world, Hertz, file for Chapter 11 bankruptcy on Friday, given the severe impact of COVID-19 on travel and the economy. But the story is a much bigger one — it reflects the difficulties of building a solid, profitable company in the car business with healthy cash reserves to survive a catastrophe; and it points to the fundamental changes in how people will be using cars, travel, and taking short rides in the city, in t