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Bankrupt Hertz seeks $5.4M in government bonuses



Bankrupt Hertz seeks $5.4M in executive bonuses

Just months after Hertz Worldwide Holdings Inc. shelled out $16.2 million in added shell out intended to maintain executives from leaving as the coronavirus pandemic decimated the vacation industry, the auto rental enterprise would like to go out $14.6 million more in bonuses.

Prior to submitting for Chapter 11 individual bankruptcy in May perhaps, the company laid off countless numbers of staff members while handing out retention bonuses or “stay fork out” to leaders.

HERTZ Offered $29 MILLION IN Stock Ahead of SEC STEPPED IN

At the starting of the month, the corporation elevated $29 million, marketing its probable worthless inventory before regulators at the Securities and Trade Fee lifted questions.

Vehicle exiting the vacant vehicle rental spot at Hertz«s Auto Rental Parking region at Miami Global Airport (Photograph by: Kike Calvo/Universal Photographs Team through Getty Photos)

According to a Saturday report in The Wall Road Journal, retention payments are just about difficult for executives after a company documents for personal bankruptcy.

Although Hertz is concealing a great deal of the information about which staff will get the most current round of dollars, Chief Monetary Officer Jamere Jackson resigned this month and forfeited his stipend.

Styled as “incentive” bonuses in courtroom paperwork submitted Thursday, the new spherical of payouts would have to be approved by the choose overseeing Hertz’s individual bankruptcy.

In the proposal, the chief government officer and 13 other top rated professionals of Hertz Corp. would share as significantly as $5.4 million, Bloomberg described Saturday.

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If the choose permits a next reward spherical, the Journal notes that Chief Government Paul Stone — who took the title and a $700,000 “retention bonus” in May possibly — could be entitled to an added $1.6 million.

Hundreds of personnel under Stone could also be specified revenue under the incentive options, with executives and senior management obtaining payments in the selection of $10,000 to $15,000.

Whilst “retention” bonuses had been banned by Congress 15 several years in the past, individual bankruptcy lawyers began crafting incentive applications to maneuver all-around the ban.

Functionality benefits have considering that been routinely authorized — in quite a few cases, in excess of the protests of federal individual bankruptcy watchdogs.

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In 2020, the CEOs of GNC Holdings Inc., Ascena Retail Group Inc., Tailor-made Models Inc., J.C. Penney Co., Neiman Marcus Group Ltd., and other companies have obtained this sort of payment under very similar conditions.

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Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners



Everything has been delivered.  10 Bugatti Centodieci are already in the hands of the owners

OAll Bugatti Centodieci have been delivered, the Molsheim-based brand said on Monday. Cristiano Ronaldo received the number 07 in October this year. and Bugatti has now revealed that the latest unit – #10 – is already in the possession of its owner.

“The Centodieci combines all the values ​​of the Bugatti brand in an extraordinary package: rarity, innovation, heritage, craftsmanship and unrivaled performance. The production batch of 10 units was so in demand by our customers that it was sold before the Centodieci. was even officially presented,” said Christophe Piochon, president of Bugatti.

This latest example is finished in Quartz White with carbon fiber trim on the bottom and matte grilles. The brake calipers are painted in Light Blue Sport, as is the logo on the rear that refers to the EB110, the iconic Bugatti model that inspired this Centodieci. Inside, the predominant color is also blue, as you can see in the images above.

This block is powered by the same block as the other nine instances. The 8.0-liter W16 with four turbines is capable of developing 1600 hp. In terms of performance, this allows the Centodieci to hit 100 km/h in just 2.4 seconds and reach a top speed of 380 km/h.

Recall that each unit costs the owners eight million euros before taxes.

Read also: We already know when the Bugatti Centodieci fell into the hands of Ronaldo.

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The first Dacia hybrid. “The cheapest hybrid family on the market”



The first Dacia hybrid.  "The cheapest hybrid family on the market"

BUT Dacia revealed this Monday that the hybrid engine has been available since March on the Jogger, the Romanian brand’s model known to be available with a seven-seat variant.

The Jogger Hybrid 140, Dacia’s first hybrid, will hit dealerships in March, but customers can expect and order it as early as January.

The price has been revealed by Dacia and since it’s only available in the seven-seater SL Extreme, it starts at €28,800. The brand claims it is “the most affordable hybrid family car on the market.”

Available in six existing colors to celebrate the launch of this hybrid, there will be a slate gray version, as you can see in the images above.

Equipped with a 1.6 liter four-cylinder petrol engine with 90 hp, the Jogger is also powered by two electric motors (a 50 hp engine and a high-voltage starter-generator). The total power is 140 horsepower. The electric transmission is automatic, four-speed, connected to an internal combustion engine, and two speeds are connected to an electric motor. This combined technology was possible, according to Dacia, only due to the lack of clutch.

Combined with the energy recovery levels of the 1.2kWh (230V) battery pack and the efficiency of the automatic transmission, regenerative braking delivers all-electric traction on 80% of urban journeys and saves up to 40% of fuel compared to a combustion engine vehicle.

Read also: Dual-fuel Dacia Jogger Eco-G. We tried 5 seater and LPG…

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See how Tesla tests its electric Semi truck in the worst-case scenarios



Tesla Semi camião elétrico testes

Tesla has finally been able to bring its long-awaited Semi to market. This electric truck promises to revolutionize transportation and bring all the unique characteristics of this type of electric vehicle to this class of vehicles.

Now that the first units have been delivered, there is hope that they will finally be mass-produced and reach more transport companies. With so many promises to be kept, a new video is now emerging showing Tesla testing its Semi truck under worst-case scenarios.

Tesla Semi is already on the market

Like all Tesla electric vehicles, Semi follows the same line of creating a unique design associated with a platform with the most modern technology available. The proof is in what was presented to the public and surprised most people.

To prove the quality of this new proposal, Tesla published in your LinkedIn account new video. In it, he reveals some of the testing he's done to determine the strength and quality of the Semi's design and its (potential) durability.

Tests to prove its durability

It has been revealed that the Tesla electric truck is subjected to numerous tests and its application in the worst scenarios that drivers may face. It doesn't stop at the ruggedness of the Semi's designs, but goes further and focuses on the motors and batteries themselves.

This is the proof that many have been waiting for to ensure that this new proposal is not limited to a lot of autonomy. Its resistance is great and will provide greater durability, further enhancing the Semi's value and performance.

high quality electric truck

Tesla has already showcased the Semi's quality with a video showing its truck driving roughly 500 miles on just one charge. The big news here is that he managed to make this long journey with a maximum load of about 37 tons.

Now Tesla remains to widely place the Semi on the market. At the moment, only a few companies have access to this new product, with a very long list of pending deliveries, who want to start mass-using this electric truck offering.

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