Dollar Thrifty/Vanguard Merger

[aoxamaxoa]

http://www.tulsaworld.com/NewsStory.asp?ID=070215_To_A1_Merge11322

It's a good story. I bet we all agree. A positive for T town with the exception of the couple hundred being "outsourced". Short term pain and long term gain...This new company gives Tulsa an international presence. It's a natural blend with good solid employment benefits for our community.

Mayor Taylor again shows her professionalism by making no comment. Many here could learn a lesson from her honor.

[RecycleMichael]

no comment.

[sgrizzle]

Not entirely suprising. I generally rent from thrifty myself, they seem to have a pretty big presence as it is.

[Johnboy976]

You do realize that she was the attorney for Dollar/Thrifty for a time.

[Cubs]

quote: Mayor Taylor again shows her professionalism by making no comment. Many here could learn a lesson from her honor.  

Well of course she isn't going to say anything since her husband owns Vanguard.

[Steve]

quote:Originally posted by Cubs

quote: Mayor Taylor again shows her professionalism by making no comment. Many here could learn a lesson from her honor.  

Well of course she isn't going to say anything since her husband owns Vanguard.

Of course.  As mayor of Tulsa, she should be concerned with increasing employment and local job retention.  As a principal owner/stockholder of Vanguard, she would be concerned with maximizing earnings per share above all else.  Some conflicts naturally arise.  The "no comment" reaction is already wearing very thin.

[cannon_fodder]

If they felt they needed to merge, thank god its in town!  Of course, it would work out better if they each merged with someone else and moved ALL the jobs to Tulsa.  But Im happy keeping what we have.

Side note:  I was renting a car in Miami and the clerk saw that I had the same zip as the home office (Dollar/Thrifty).  I asked him if it was worth a free-upgrade and he said "Sure, why not." So I was riding in style from there on out...

[TheArtist]

quote:Originally posted by Steve

quote:Originally posted by Cubs

quote: Mayor Taylor again shows her professionalism by making no comment. Many here could learn a lesson from her honor.  

Well of course she isn't going to say anything since her husband owns Vanguard.

Of course.  As mayor of Tulsa, she should be concerned with increasing employment and local job retention.  As a principal owner/stockholder of Vanguard, she would be concerned with maximizing earnings per share above all else.  Some conflicts naturally arise.  The "no comment" reaction is already wearing very thin.

Remember, they did bring Vanguard to Tulsa and if by this merger the company stays competitive, thats a good thing for Tulsa.  A company that doesn't remain competitive, no matter who is running it, can lose all its jobs.  Vanguard will be the controlling interest in the new merged company.  If Vanguard was still in Florida, the controlling interest, headquarters, would have then been in Florida not Tulsa.  There are reasons other than just jobs that one wants headquarters in ones city.  Think BOK arena and the like.

[cannon_fodder]

and think the bandwagon effect.  Many companies seeking to move ask 'who else is there.'  Not only just because its  a lazy way to see if a city is qualified... but it is an indication of the business environment, the travel availability, and what companies might be there to work with.  A friend of mine is on the Des Moines area Development Board and told me the list of companies HQ'd in the area (or with major operations there) is a huge selling point.

And you thought the bandwagon was only for sports teams.

[Kulsa]

This merger means less jobs for Tulsa. By merging, the two companies will combine back office functions and many jobs will be lost...

[sgrizzle]

quote:Originally posted by Kulsa

This merger means less jobs for Tulsa. By merging, the two companies will combine back office functions and many jobs will be lost...

That is true of every merger but likely they will still maintain separate brands which will mean a lot of jobs will stay.

[cannon_fodder]

The industry is consolidating, thats a given.  So the best case scenario would be for each of the Tulsa companies to acquire another competitor and bring MORE jobs to Tulsa.  The worst case scenario would be for them to both be acquired and move all jobs out of Tulsa.

The middle positions are for nothing to happen or for them to merge together.  Nothing probably has more short-term gains, but the merger probably fosters more long term gains for the community.  Since something was likely to happen, Ill take the merger IN town.

[Kulsa]

quote:Originally posted by sgrizzle

quote:Originally posted by Kulsa

This merger means less jobs for Tulsa. By merging, the two companies will combine back office functions and many jobs will be lost...

That is true of every merger but likely they will still maintain separate brands which will mean a lot of jobs will stay.

Nope, not this one. Operating seperate brands has nothing to do with the amount of back office and support jobs the company will maintain. When Dollar bought back most if not  all the Thrifty frachises, all airport locations operating both brands were combined into one back office and many jobs were dissolved. The same thing happened at HQ in Tulsa. That's one of of the points of merging, the company can save mucho money by combining all the back office functions.....

[TheArtist]

quote:Originally posted by Kulsa

quote:Originally posted by sgrizzle

quote:Originally posted by Kulsa

This merger means less jobs for Tulsa. By merging, the two companies will combine back office functions and many jobs will be lost...

That is true of every merger but likely they will still maintain separate brands which will mean a lot of jobs will stay.

Nope, not this one. Operating seperate brands has nothing to do with the amount of back office and support jobs the company will maintain. When Dollar bought back most if not  all the Thrifty frachises, all airport locations operating both brands were combined into one back office and many jobs were dissolved. The same thing happened at HQ in Tulsa. That's one of of the points of merging, the company can save mucho money by combining all the back office functions.....

And thus be more competitive.  Being more competitive means being able to survive and even grow.  Not being as competitive means losing more jobs or being bought up and possibly all the jobs being lost. In the business world, you stand still, the other guy walks over you.

[DM]

Vanguard still maintains a small office for claims and other functions in Florida. With the merger, maybe they will move the rest of those jobs here or eliminate those before eliminating any of those jobs functions here. Probably about 20 to 30 jobs. Not much but pretty good paying jobs.