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Start A Major Car Rental Company - Accidentally

My good friend Dick [first names only] had a great eye for opportunity and he convinced me to join him at a car rental company where he was General Manager. He assured me that the company was in its last throes and there was an excellent chance that we could negotiate for the assets if it went into bankruptcy.

Thats exactly what happened and on July 1, 1967 we were owners of Capital Rent A Car, Inc. 1st National Bank of Fort Lauderdale handed us the 88 cars they held title to plus $20,000 initial working capital and a two month moratorium on the payment of the cars. Of course the cars were not worth anywhere near the money owed on them and we didnt have two dimes to rub together. But with no other opportunity we jumped in.

During the next seven years we only were able to make cash decisions, never a business decision. Problem was we were always short on the cash side. We grew because we were aggressive and innovative but always cash short. To stay alive during the next seven years we asked for and received moratoriums and we kited checks which we always made good.

We were doing business with major lenders, GMAC, Ford Motor Credit, Chrysler and about 4 or 5 local banks. They were all cooperative recognizing that we were two nice stupid boys who were sincere but unfortunately inept. However there was one company that we did not fool around with. That was Harry who had a small local car leasing business. We figured that all of our lenders were in business to lend money. Not Harry, he was in business to make a living. Although Harry did have a major, 75 or 80%, well healed partner Harry always got paid on time and without knowing it that paid dividends.

1973 came and brought Arab/Israeli the Yom Kippur war plus higher gasoline prices and a gasoline embargo the following spring. Our business model was to offer the right size car which translated means no sub compacts and heavy on the mid-size and full-size cars. Consequently after the 73-74 winter season we could not dispose of unnecessary inventory. With higher gas prices and gas shortages car wholesalers wanted to buy fuel efficient sub-compacts and maybe a few compacts. Mid-size and full-size cars were in essence, sales proof. What was offered for the larger cars was not sufficient to pay off the loans and obtain the titles. And we didnt have the cash to buy the titles so we ended up looking at unnecessary cars.

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Car rental fort lauderdale - News


New Fee Proposed For Chicago Airport Car Rentals CBS Local
table border=0 cellpadding=2 cellspacing=7 style=vertical-align:top;trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNG2WhrN8ciiLue6gAPWlytscgsOswamp;url=http://chicago.cbslocal.com/2012/01/25/new-fee-proposed-for-chicago-airport-car-rentals/img src=//nt1.ggpht.com/news/tbn/LdwGjajAnrUdpM/6.jpg alt= border=1 width=80 height=80 /br /font size=-2CBS Local/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbr /div style=padding-top:0.8em;img alt= height=1 width=1 //divdiv class=lha href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNG2WhrN8ciiLue6gAPWlytscgsOswamp;url=http://chicago.cbslocal.com/2012/01/25/new-fee-proposed-for-chicago-airport-car-rentals/bNew Fee Proposed For Chicago Airport bCar Rentals/b/b/abr /font size=-1bfont color=#6f6f6fCBS Local/font/b/fontbr /font size=-1A sign hangs over the Enterprise bcar rental/b lot at the bFort Lauderdale/b/Hollywood International airport July 10, 2007 in bFort Lauderdale/b, Florida. Enterprise is one of three companies suing the City of Chicago to challenge a tax on Chicago residents b/b/fontbr /font size=-1 class=p/fontbr /font class=p size=-1a class=p href=http://news.google.com/news/more?ncl=d91eDCZwNXqm2eMamp;ned=usnobrband morenbsp;raquo;/b/nobr/a/font/div/font/td/tr/table

Germanys Sixt car rental company expands in Florida Sun-Sentinel (blog)
table border=0 cellpadding=2 cellspacing=7 style=vertical-align:top;trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serif/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbr /div style=padding-top:0.8em;img alt= height=1 width=1 //divdiv class=lha href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNFWmezaWZJmwyV9A0pXHMVs0Zrl6gamp;url=http://blogs.sun-sentinel.com/south-florida-travel/2012/01/31/germanys-sixt-car-rental-company-expands-in-florida/bGermany#39;s Sixt bcar rental/b company expands in Florida/b/abr /font size=-1bfont color=#6f6f6fSun-Sentinel (blog)/font/b/fontbr /font size=-1Sixt now has brent/b-a-bcar/b operations at international airports in Miami, bFort Lauderdale/b and Orlando, with one-way brentals/b available between the three airports It provides an airport shuttle to and from their branches. Sixt also is starting up soon at b/b/fontbr /font size=-1 class=p/fontbr /font class=p size=-1a class=p href=http://news.google.com/news/more?ncl=dfeKxy9hW_qTqWMamp;ned=usnobrband morenbsp;raquo;/b/nobr/a/font/div/font/td/tr/table

Isaac Bruce reflects on his days in LA ESPN (blog)
table border=0 cellpadding=2 cellspacing=7 style=vertical-align:top;trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serif/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbr /div style=padding-top:0.8em;img alt= height=1 width=1 //divdiv class=lha href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNG9g7_6h-fTT3KUPpjOqnEYRP8WUgamp;url=http://espn.go.com/blog/los-angeles/nfl/post/_/id/785/isaac-bruce-reflects-on-his-days-in-l-abIsaac Bruce reflects on his days in LA/b/abr /font size=-1bfont color=#6f6f6fESPN (blog)/font/b/fontbr /font size=-1Isaac Bruce, who turned 39 in November, looks like he could still play in the NFL as he sits down in the lobby of his bFort Lauderdale/b condominium in a track suit after a morning workout. Bruce, who retired from the NFL before the 2010 season, b/b/fontbr /font size=-1 class=p/fontbr /font class=p size=-1a class=p href=http://news.google.com/news/more?ncl=d41g9hmwkgpkw4Mamp;ned=usnobrb/b/nobr/a/font/div/font/td/tr/table

15 Passenger Van rental in Miami and Fort Lauderdale Breaking Travel News
table border=0 cellpadding=2 cellspacing=7 style=vertical-align:top;trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNFL0OyP4rl90S9_oFYvlkXHJnOoUAamp;url=http://www.breakingtravelnews.com/news/article/15-passenger-van-rental-in-miami-and-fort-lauderdale/img src=//nt1.ggpht.com/news/tbn/7QvOJIHdQE_iPM/6.jpg alt= border=1 width=80 height=80 /br /font size=-2Breaking Travel News/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbr /div style=padding-top:0.8em;img alt= height=1 width=1 //divdiv class=lha href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNFL0OyP4rl90S9_oFYvlkXHJnOoUAamp;url=http://www.breakingtravelnews.com/news/article/15-passenger-van-rental-in-miami-and-fort-lauderdale/b15 Passenger Van brental/b in Miami and bFort Lauderdale/b/b/abr /font size=-1bfont color=#6f6f6fBreaking Travel News/font/b/fontbr /font size=-1When you have to move a crowd in Florida, choose Royal bRent/b-a-bCar#39;s/b Full Size Van with seating for up to 15 passengers. No one and nothing gets left behind. The 2012 Ford E-Series Extended Length Wagon is not your average van./fontbr /font size=-1 class=p/fontbr /font class=p size=-1a class=p href=http://news.google.com/news/more?ncl=du-ZjRP1jeApdSMamp;ned=usnobrb/b/nobr/a/font/div/font/td/tr/table

Two Rental Car Unknowns Bring Deals to Florida Fox News
table border=0 cellpadding=2 cellspacing=7 style=vertical-align:top;trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNFjYAaLGooyGohclV4ODqX7PFv0BQamp;url=http://www.foxnews.com/travel/2012/01/11/florida-rental-car-options-heat-up/img src=//nt3.ggpht.com/news/tbn/Nz9sHQN3hrTeYM/6.jpg alt= border=1 width=80 height=80 /br /font size=-2Fox News/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbr /div style=padding-top:0.8em;img alt= height=1 width=1 //divdiv class=lha href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNFjYAaLGooyGohclV4ODqX7PFv0BQamp;url=http://www.foxnews.com/travel/2012/01/11/florida-rental-car-options-heat-up/bTwo bRental Car/b Unknowns Bring Deals to Florida/b/abr /font size=-1bfont color=#6f6f6fFox News/font/b/fontbr /font size=-1This can translate into some super deals for consumers, so it#39;s worth putting SIXT on your short list when shopping for your next vacation rental. SIXT is located in the new Miami airport bcar rental/b center on the airport property. In bFort Lauderdale/b b/b/fontbr /font size=-1 class=p/fontbr /font class=p size=-1a class=p href=http://news.google.com/news/more?ncl=dpFIml4hjHb8XmMamp;ned=usnobrb/b/nobr/a/font/div/font/td/tr/table