This is an excerpt from an article I originally published on Seeking Alpha on December 13, 2011. Click here to read the entire piece.)
In a healthy economy, job creation often accompanies job destruction. Resources freed in one economic activity get redirected to new sources of economic growth. This can happen when consumers take the savings from cheaper products to buy new products or when businesses take savings and invest in new profit opportunities. It is very easy to forget this theoretical relationship in poor economic times like now.
On a recent trip, I received an interesting reminder of the symbiosis between job destruction and creation at a Hertz (HTZ) rental car drop-off.
As I waited for my receipt, I noticed a bearded figure checking out my transaction. I thought he was inspecting the car and/or waiting to drive it back to the Hertz car care center. It turned out that this guy was sizing me up for a ride to the airport terminal. He startled me when he asked whether I wanted a ride…
…{snip}…
With centralized car rental centers, every car rental company offers protected areas for pick-up and drop-off. {snip} Differentiated customer service can only occur when the customer is directly interfacing with Hertz. The drop-off is one such point of contact and opportunity for innovation.
{snip}… I wished him the best, and I promised to write to Hertz complimenting the service and suggesting the company keep it. It was one of the first things I did when I returned home.
Overall, Hertz certainly seems to have the financial wherewithal to roll-out custom rides across the company. …{snip}…
Source: FreeStockCharts.com
…{snip}…
Be careful out there!
This is an excerpt from an article I originally published on Seeking Alpha on December 13, 2011. Click here to read the entire piece.)
Full disclosure: no positions