did anyone listen to the Avis CC? Wonder if we were mentioned.
When Avis took us off their presentations in early October, we should have known something was up.
For the friggin life of me, I don't know what they are waiting for? why not sue? Avis just extended this non-compete to KILL the technology. Now Hertz has moved on. It looks like they waited but just couldn't wait anymore after Avis bought ZIP. That should have changed everything and IDSY should have fought back. Jagid is too passive. He's just a pvssy and it cost him the rental segment
They HAVE to sue. Everyone. ZIP. Avis. Hertz. Eileo. Enterprise. Every car share company.
launched ZIP at NYC airports. 8 more airports to be installed this qtr. Adding 1000 more ZIP cars this summer
ZIP added to revenue and profits
NOTHING about us. Not a single thing. Putting ZIP at airports and adding to their fleet tells me they will throw away our tech
they want to add a new BOD member, Robert J. Farrell (2) 49 Nominee for Director. Formerly of Edgar Online (MJW should know this guy).
Each Director makes a min of $75K. The executive pay is outrageous. Jagid made OVER $700K last year. Between Ned and Jagid they make $1.3M
I will vote NO on everything
If the stock is less than $6.65 as of next March, 260K options get forfeited
huge short interest. If you go back and look at the increased short interest over time vs the share price, the vast majority of shorts are down slightly when dividends are factored in. The market has gone up considerably during that time. A new dividend is pending. Company set to announce record revenue.
Since the shorts piled in, the share price has basically never been above $12 for long, so the blended share price for all of these short shares is probably around $11. With dividends factored in figure $10.50. Market up about 15% over that time period, shorts down about 15% over that time period. something is going to give very soon
The short volume has been around 15% of all shares traded during this time period as well.
Avis did NOT support IDSY when asked at the ZIP presentation in January. Go back and listen. And analyst basically asked them if they wasted their money on IDSY and the Avis CEO who was taken aback basically said they would keep IDSY. He didn't say they would expand it. It paid for itself, blah, blah, blah, so we didn't waste our money, but we aren't spending any more on that.
I think it will take Hertz 18 months to realize that their current solution is too expensive. That will be the time that they will start replacing the current crop of equipped cars and need to deinstall then reinstall the equipment. that is 1 hr to deinstall. 1 hr to reinstall. Gets expensive. they will need to hire a team of dozens of people just to perform this function.
well, Hertz has 25,000 of them now and will have 80,000 by year end. IDSY should have had a "cellular option " with their solution as well.
from their CC (note, Hertz installed 25,000 car share cars in ONE quarter. It's taken Avis 2 years and still no SOW #2). Apparently, Hertz does not view our technology as car sharing technology
Mark P. Frissora - Executive Chairman, Chief Executive Officer, Member of Executive Committee, Chairman of Hertz Corp and Chief Executive Officer of Hertz Corp
Thanks, Elyse. As I mentioned, I'd like to pick this up on Slide 29 again. As I mentioned before, the first quarter financial results came in better than expected. It was really a strong quarter across the board for us. The Dollar Thrifty integration synergies are tracking ahead of plan. We installed our car sharing technology in roughly 25,000 vehicles globally in the first quarter and we're continuing to rollout with a goal of having at least 80,000 telematic packages installed by year end. Our current install base gives us the largest car sharing fleet in the world now by a large margin. We also opened up both off-airport and equipment rental facilities over the past 3 months to address the higher volumes in those markets, and we saw what we hope is the beginning of growth in Europe.
They have not said when they announce yet, but it must be prior to 5/15 based on SEC deadlines. Usually it is a couple days before ex-dividend which is also 5/15
Based on the stats pages it looks like record revenue for the quarter with nice year-year growth. GAAP earnings should be any where between 25c-40c with cash flow a few cents higher than that. I guess a good guess is 32c with cash flow of 35c. Unexpected capex or costs from the new Chinese offices could impact that by a few cents lower.
If we somehow totally misread things and earnings are much lower (like under 20c), I'm out as that would foretell a dividend cut.
we could see that after earnings. Not a single person is expecting increased sales or profits. Add in some short covering.
that's 300,000 at $5.50 in last 2 days
That narrows it down to in order of holdings:
Dimensional Funds 584k
I'd have to put my money Artis or Diker. Both would fall under 5% and would need to file a 13G in the next 10 days if it is them.
Interesting to see who the buyer is.
I wonder if the SOW #2 delay and Hertz now moving forward without IDSY is the news propelling the selling.
with the Hertz news today, I am thinking that Jagid is desperate to save his job and will buy Skybitz for more than he should while going into debt to do it.