The Hertz Corporation
Overview
Car rental
A car rental or car hire agency is a company that rents automobiles for short periods of time for a fee...
company with international locations in 145 countries worldwide.
The company was founded by Walter L. Jacobs in 1918, who started a car rental
Car rental
A car rental or car hire agency is a company that rents automobiles for short periods of time for a fee...
operation in Chicago
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
with a dozen Model T Ford cars. In 1923, Jacobs sold it to John D. Hertz
John D. Hertz
John Daniel Hertz, Sr. was an American businessman, thoroughbred racehorse owner, and philanthropist.-Biography:...
who made it a subsidiary of his Yellow Truck and Coach Manufacturing Company and renamed it "Hertz Drive-Ur-Self System".
He sold a controlling interest in the Yellow Truck and Coach Manufacturing Company (and hence also 'Hertz Drive-Ur-Self') to General Motors
General Motors
General Motors Company , commonly known as GM, formerly incorporated as General Motors Corporation, is an American multinational automotive corporation headquartered in Detroit, Michigan and the world's second-largest automaker in 2010...
in 1925 who then purchased the remaining shares in 1943.
Hertz arranged for The Omnibus Corporation
The Omnibus Corporation
The Omnibus Corporation was formed in 1925 and acquired control of Fifth Avenue Coach Company and the Chicago Motor Coach Company with John D. Hertz as chairman. In 1953 it purchased Yellow Drive-It-Yourself from General Motors and sold its interests in public transport...
, which he also owned, to purchase the car rental business back from GM in 1953.
