Via news from
me comes this
little fluff piece about the Avis Car Rental company. What I'm confused
by though, is the business of Avis—is it car rentals, or being bought
out?
The story of Avis goes something like:
Warren E. Avis (1946)
↓
Richard Robie (1954)
↓
Amoskeag Co. (1956)
↓
Lazard Frères Co. (1962)
↓
ITT Corporation (1965)
↓
Avis (1972)
↓
Norton Simon (1977)
↓
Esmark (1983)
↓
Beatrice Foods (1984)
↓
Kohlberg Kravis Roberts & Company (1986)
↓
Wesray (1986)
↓
PHH Group, Avis Europe P.L.C (1986) (see article)
↓
Avis, employee owned (1987)
↓
General Motors 26% ownership (1989)
↓
HFS (1996)
↓
Avis goes public (1997)
↓
Cendant 34% ownership (1997)
↓
Cedant (1999)
↓
Avis Budget Group (2006)
and I'm sure a lot of people got rich along the way, but what exactly
did they do?
I mean, other than push some paper back and forth?
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