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I've always been interested in peoples' and companies' decisions on where to locate.
Recently bankrupted Hertz is based in Estero, FL.
When I read that, I wondered "is this a suburb of Miami?" No. It is a suburb of Fort Myers.
Why is Hertz there? Did Estero kill Hertz?
Recently bankrupted Hertz is based in Estero, FL.
When I read that, I wondered "is this a suburb of Miami?" No. It is a suburb of Fort Myers.
Why is Hertz there? Did Estero kill Hertz?
Usually when companies move, they move to big cities where it's easy to attract the best staff who value the ability to work for a variety of companies without moving.
In that context, Estero is a very strange choice. And I don't have the full story. But here's part of it:
In that context, Estero is a very strange choice. And I don't have the full story. But here's part of it:
Apparently they got $19m in subsidies from the city, state and the electric utility. And the land was probably dirt cheap. They were also consolidating offices in NJ and OK after a merger.
Surely there were other cities with bigger labour pools in the running though?
Surely there were other cities with bigger labour pools in the running though?
https://www.naplesnews.com/story/money/business/2017/08/05/hertz-has-tough-road-ahead/475080001/
In any case, the company's new CEO says flat out that the move was a disaster:
In any case, the company's new CEO says flat out that the move was a disaster:
"In the move, we lost a significant amount of the people that were running the business." While it was rebuilding its corporate team, there were "very significant jobs" in marketing and other areas that "weren't getting done."
But the same article says that there were many other awful decisions being made at the time.
Regardless, it may be the most contrarian corporate-HQ move in recent US history. Does anyone else have other info on why this happened?
Regardless, it may be the most contrarian corporate-HQ move in recent US history. Does anyone else have other info on why this happened?
Bonus content: Let's talk about Estero, FL. All I know is what's in Wikipedia. and hooboy. It was founded by Cyrus Teed "who proposed a theory that people live on the inside of the Earth's outer skin, and that celestial bodies are all contained inside the hollow Earth."
I swear every town in FL has a juicy story full of scams, outsiders and massive dreams:
"Teed's followers initially expected his resurrection..."
"They kept a constant vigil over his body for two days, after which time it began to show signs of decay."
https://en.wikipedia.org/wiki/Koreshanity
"Teed's followers initially expected his resurrection..."
"They kept a constant vigil over his body for two days, after which time it began to show signs of decay."
https://en.wikipedia.org/wiki/Koreshanity
