Financially Troubled Hertz Announces Plans to Sell Donlen Fleet Leasing Business
Financially-troubled Hertz has announced plans to sell its Donlen fleet leasing and management subsidiary. With adjustments for fleet equity, working capital and assumed debt, Hertz Global expects the deal to bring a purchase price of at least $875 million.
In the news release, Tom Callahan, Donlen's president, said the sale will position the longtime fleet management and leasing business for "continued long-term success."
"Our fleet customers remain our top priority and we look forward to continuing to be a trusted partner providing high levels of customer satisfaction, impactful technology and fleet solutions," he said.
Donlen, based in Illinois, has been named one of the Best and Brightest Companies to Work for in Chicago and in the nation for six years in a row.
Read the article at USA Today.
Addressing Privacy Concerns in Driver Risk Management
By Ed Dubens, CEO/Founder of eDriving
Today, data security and privacy compliance are among the most important considerations for practically every business.
For that reason, when reviewing Digital Driver Risk Management solutions, data security and privacy compliance are critical components of the assessment and planning phase, and can even be the deciding factor in whether a program is adopted or not.
In many countries across Europe, in Canada and parts of Australasia and Latin America, organizations must seek input and/or approval from employee representatives such as Works Councils or Unions for the introduction and application of new operational processes, technical equipment and software. The purpose of Works Councils and Unions is to protect employees’ rights.
How does this affect organizations looking to protect the safety of those driving for work purposes? It means that any company obliged to seek such approval for a new driver safety program, will need to justify the implementation of the program, and prove it complies with relevant data protection and privacy laws.
A Call to Action: The Importance of Storytellers, Substantiators, and Derailleurs in Today’s Market — Part Two: Substantiators
A shift in the buying cycle means the sales representative is no longer an exclusive expert and the marketer is no longer the exclusive promoter. How are fleet service providers adapting to today’s buying cycle?
Ed Pierce, ITA Communications. Fleet
As we approach 2021, a shift in the traditional B2B buying cycle has created even more interdependency between sales reps and marketing. Today's sales reps must have a higher level of discovery conversations with prospects. They need more tailored sales tools and content to map potential buyers' needs and determine the best course of action at each stage of the buying cycle.
Only together can sales and marketing effectively fill the roles of Storytellers, Substantiators, and Derailleurs. We addressed storytellers in the last column. Let's look at Substantiators.
Biden Posed in his Vintage Corvette, But He Promises a Big Push for EVs
Electric vehicles make up less than 2 percent of the 17 million or so new cars and SUVs sold each year in the United States. President-elect Joe Biden also wants the country to be all-in on electric vehicles. He has pitched them as a way to fight climate change and reinvigorate American manufacturing.
“I believe that we can own the 21st century market again by moving to electric vehicles,” Biden says while gripping the wheel of his 1967 Corvette Sting Ray. In a campaign video that used the rumble of the car’s engine as a soundtrack, Biden grins at the prospect of an electric version with a 200 mph top speed.
The incoming administration’s plans for electric vehicles underscore how its approach to transportation policy will be shaped by the battle against climate change, as it seeks to reshape the sector of the economy responsible for the largest share of greenhouse gas emissions.
Read the article at The Washington Post.
Auto Repossessions Likely to Rise in 2021 as COVID-19 Pandemic Goes On
While everyone has felt the impacts of the coronavirus in some way, one group of people might be about to get hit with another bout of bad news. More people will lose their jobs or will in some way suffer economic hardship. That will mean missed debt payments, which translates to a surge in auto repossessions.
Part of the problem moving forward is that government responses to the COVID-19 pandemic are easing up or have already finished. Some states issued temporary repossession halts, but not all of them.
For people who may be facing a vehicle repossession, the FTC has a page of advice. One of the most important suggestions, in addition to getting in touch with your lender: contact your state attorney general and/or your local consumer protection agency to understand the law and your rights where you live.
Read the article at Car and Driver.
