• 1918 - In September, the pioneer of auto renting, Walter L. Jacobs, at the age of 22, opened a car-rental operation in Chicago.
  • 1923 - Jacobs sold his car-rental concern to John Hertz, President of Yellow Cab and Yellow Truck and Coach Manufacturing Company.
  • 1926 - This rental business, called Hertz Drive-Ur-Self System, was acquired by General Motors Corporation when it bought Yellow Truck from John Hertz.
  • 1953 - Omnibus Corporation, which divested itself of its bus interests and concentrated solely on car and truck renting and leasing, bought the Hertz properties from GMC. A year later, a new name was taken -- The Hertz Corporation -- and it was listed for the first time on the New York Stock Exchange. Jacobs became Hertz' first President and served in that post until his retirement in 1960. He died in 1985 at the age of 88.
  • 1954 - the new corporation bought Metropolitan Distributors, a pioneer in New York truck leasing dating back to the World War I and the largest concern of its kind in any one city. In the process, the head of Metropolitan Leon C. Greenbaum, became Vice Chairman of the Hertz Board of Directors. He later became Chairman, and in 1960, Chief Executive Officer.
  • 1967 - The Hertz Corporation became a wholly owned subsidiary of RCA Corporation and operated as a separate entity, with its own management and Board of Directors.
  • 1985 - Hertz joined UAL, Inc. On December 30, 1987, Hertz was sold to Park Ridge Corporation, a company formed by Ford Motor Company and certain members of Hertz senior management for the purpose of purchasing Hertz. In 1988, Volvo North America Corporation joined Ford and Hertz management as an investor in Park Ridge Corporation.
  • 1991 - Park Ridge Corporation was merged into The Hertz Corporation. In 1994, Ford purchased the outstanding shares of Hertz and Hertz became an independent, wholly-owned subsidiary of Ford.
  • 1997 - In April, Hertz became a publicly-traded company.
  • 2001 - In March, Hertz became a wholly-owned subsidiary of Ford when Ford reacquired the outstanding 18.5% of Hertz stock.
  • 2005 - In December, Hertz was acquired by investment funds associated with three leading private equity investment companies: Clayton, Dubilier & Rice, The Carlyle Group, and BAML Capital Partners (formerly known as Merrill Lynch Global Private Equity).
  • 2006 - In November, Hertz made an initial public offering of common stock.
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