Every year Barron’s gathers a group of asset management luminaries for a roundtable discussion. The group collectively manages many many billions of dollars and includes people like Jeffrey Gundlach, Mario Gabelli and Meryl Witmer. While the discourse includes a bit about the overall macro environment, the focus is mainly on each individual’s top investments for the coming year.… Read More »
July 4th week is a good time to catch up on some recent spinoff transactions. Last week Hertz (HTZ) completed the separation of its equipment rental business Herc Holdings (HRI). This one was a bit tricky mechanically and here is how the transaction went down: To effect the separation as part of a tax-free spinoff, Hertz Global Holdings stockholders as of… Read More »
Paging Kevin Sorbo! Speaking at an industry conference back in February, Larry Silber, CEO of Hertz’s (HTZ) equipment rental business and of its future spinoff, announced that the new company will change its name to Herc Rentals post-spin. Alas, the choice of ‘Herc’ had nothing to do with the Greek demigod and is merely the initials of the… Read More »