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Article: Car Rental Giant ANC Vows to Stay Intact.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- November 17, 2001
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Patrick Danner, The Miami Herald Knight Ridder/Tribune Business News
Nov. 17--Early the morning of Sept. 11, ANC Rental Corp. -- the Fort Lauderdale parent of Alamo Rent A Car and National Car Rental -- received a purchase offer for at least a portion of the struggling company.
A short time later, terrorists rammed airliners into the World Trade Center and the Pentagon. For ANC Rental, the attacks set in motion a series of cataclysmic events.
The potential buyer withdrew its offer within a day. ANC Rental's business -- 90 percent of which is driven by air travelers -- dried up.
To cope, ANC Rental shed about 3,000 workers, or 15 ...