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I still think this is a smart move for Hertz. A loan comes with an interest rate and repayments. A new offering is just cash minus the fees. It's "free" in terms of future obligations.

If this "IBO" gives Hertz the breathing room to restructure, clean up, and come out the other side, then well done. If not, no one will be surprised. It's a "no lose" scenario for them.

As an investor, nope. If it drops down to penny stocks, I'll go "all in" with the $6 I can't transfer out of my Etrade account but not willing to consider anything real.



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