Hertz and Avis are putting stockholders in the driver's seat
The car rental business is undergoing a revolution of sorts, becoming more independent as it drifts away from the ownership control of the nation's largest auto makers like Ford Motor Company.
For proof, look no further than the recent initial public offerings of industry leaders Hertz and Avis. Not only have both IPOs earned millions for their parents, they've combined to shore up a weaker-than-usual IPO market, which is off 40 percent in 1997 compared to 1996.
Hertz Corp, a subsidiary of Ford
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