Avis And Hertz, Rental-Car Firms, Seek Bailout

Avis And Hertz, Rental-Car Firms, Seek Bailout

Add rental-car companies to the list of those seeking a federal bailout.

Stagnant credit markets, slumping demand for travel and the automobile industry's hardships are hobbling rental-car companies like no other downturn since the modern industry emerged in the 1970s. Fewer travelers are renting cars. And rental-car companies are struggling to find buyers for their used automobiles -- an important source of revenue -- and secure financing to purchase new ones to replace them.

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