Back in May of 2000 20 Hertz filed for bankruptcy last night. It went public again at twenty nine dollars a share giving the
company a market value of some 13 billion dollars. What a remarkable turnaround. Greg I'd like to begin with you. Hertz
stunned not just the auto industry but the financial markets with this order for one hundred thousand Teslas. Why make such
an early bets on electric vehicles. Why take the risk of being the first mover Subarus. You know we're in the trouble with
this. And providing people with the products they want was an easy
decision for us. So we know our corporate travelers want electric vehicles to go visit their clients and and do business.
And we know our leisure travelers want electric vehicles. It's a great way for them to try electric vehicle without committing.
And specifically they want Teslas. They they like Tesla's and they'd like to rent Teslas. So in combination with understanding
the demand is there and an opportunity to get a very hot product an amazing product that allows us to put it in the hands of
people who want. It was an easy decision for us. Tom at the IPO price of twenty nine dollars a share you've pretty much tripled
your money in the space of four months which in and of itself is remarkable. As you know there are some skeptics out there haters
who might call them haters. They don't believe in your story. They say Perch doesn't have a firm order for Tesla as they see
Elon Musk as dumping model threes. What can you say right here right now to address some of that. Let's call it confusion. Well
I think that there's no question that there's an incredible amount of demand for our products. Generally we have a very
robust environment for the rental car industry. We expect that to continue. We're very focused on bringing products into our
fleet. As Greg mentioned that we know people want to rent. There's no question they want to rent Teslas. There's no
question that they want to rent you know higher value vehicles from all the OEM. There's no question it's a big move afoot to
electrification. So you know for the people who doubt what we're doing you know we would simply ask that they stay tuned and
watch. We have to come because we think that this is just the beginning of an effort to put Hertz at the center of mobility in
a way to serve our OEM partners and to serve our customers to provide a better rental experience and a better corporate
partnership with those parties. Marc these other guys here Tom and Greg their financial guys right. You're a real economy guy
CEO. You ran Ford. You know all about operations and execution. What are the biggest challenges. Hertz has to overcome in this
move to electrification and the transition to what we might call shared mobility. Yeah. Well first off first off I don't look at
it as challenges. I look I'm at a huge opportunities because we're really staking ourselves out. I think a very important
place. And as Tom mentioned this mobility ecosystem wherever Mobility 2.0 goes obviously clearly as we look to lead in
electrification making sure we get our charging infrastructure in place. That's happening as we speak and then be able to you
know that first mover advantage of learning how to manage these large electrified fleets I think is going to give us a very big
competitive advantage not only in the near-term as Tom and Gregg said to get customers into these vehicles that they want to
drive. But more importantly you know in business you have to start looking around the corner. So as you think about autonomy
down the road there was a large electrified fleets I think were going to be well positioned to work with a lot of different
partners to make that happen. That's an important point. Some people think of this as just an easy play for rental car
customers. What what do you mean by these laws. What is what is fleet management and why is it important. Well first off it sets
back about our overall corporate strategy. And you mentioned this is not only a turnaround this is a transformation of Hertz
and looking around the corner. You have to look at the big trends right. Mobility. You got electrification shared mobility
connected cars autonomy. And we're positioning the company for the things that we do better than anybody else which is manage
large fleets. We do it economically consistently all around the world. That is going to need the ability to manage those fleets
and mobility 2.0. Somebody is going to have to do it. And we're the best at that. And we want to position ourselves. Avis as you
might know is trash talking. Hertz on the conference call in just a few days ago knowing what you know Tom
directly from the manufacturers I might add about the current and future supply of electric vehicles. What are the chances
that a this or maybe enterprise is going to catch up with you. I think that that over time we'll see all of the rental car
companies transition to evey. And I think that that will happen because it's what we believe consumers want today. This is
certainly a huge percentage of the population that really wants to drive electric vehicles. And we think that will only happen
with increasing speed as time passes. So I think it's a natural evolution for the industry to take. And I think you're seeing
that on the OEM side you're going to see it on the product delivery side from the rental car companies. You're going to see
it in right hill. So I think this is the first step of a large transformation and a process of bringing electric vehicles into
mainstream. And you know we're happy to be playing our role in it. You know our goal is to provide our customers with what they
want. And we believe that this this effort really hits the nail on the head in that regard. Now I want to point out that unless
you've been living under a rock you will have seen. That hurts. Has a pitchman in its new commercials for these electric
vehicles these Teslas. He happens to be a Super Bowl winning quarterback. His name is Tom Brady. Tom. Here's what I've been
wondering. Why would a Super Bowl winning quarterback you choose to star in ads for rental car company. What is it about the
first story and the transformation plan that resonates with Tom Brady.
Well first of all good morning. Nice to see you. Got some great guys up there on the stage with you and wish I could be there in
New York but I got football practice today so I got to do my job.
I think obviously it starts with incredible leadership. And I think Tom Greg and Mark really provide that. And you know I've
got great faith in the leadership team and I think they're building and reinventing a great business. I've been someone
who's been a customer of Hertz for a long time and I think they're
moved to electric vehicles is super important. And when Tom talked about what the opportunity was
for him in this business I certainly wanted to do my best to help promote people who are changing the world in a really
positive way. So we talked so much about sustainability and actions that you can do on a daily basis that are sustainable
for now in the future. And you know this is one of those areas that I feel really strongly about and I love partnering with you
know a great business a great business team that has a great mission. So it's a really fun campaign. And I hope people really
enjoy it. You drive any of the right Tom.
I do. And I have for for quite a few years. Which model and what was it that made you an easy convert.
Well I've had a Tesla for about four years. And again I think it's a it's kind of the direction the world is
setting. And I think for me it was about being really cautious about
obviously the impact that we all have on on our planet and on the things that we can do as individuals to
make progress. And there is a sense of sustainability. And I love the cars. There's a lot of companies that have followed
suit obviously. And as the guys up there as Tom Great Mark talked about that's kind of where where everyone's heading. And
you know it's a really cool time to be a car lover. And I certainly am. And Tom always gives me a nobody loves cars as
much as Tom Wagner believe me. And he always kind of keeps me in tune with what's going on. And he's really on the forefront of
the really cool aspects of car making. Tom you're lending the credibility of the Tom Brady brand to the Ford spread. What is
it about sustainability that resonates with your personal philosophy and or are you deliberately trying to raise awareness
around topics such as climate change. I think it's absolutely and I think it's
in a really broad scheme of things. It's about raising consciousness about you
know what sustainability means that correlates so many of the things that are happening you know in
my personal life to you know my business life. And you know I've thought so much about sustainability of my own body and what I
need to do in order to treat my body a certain way so that it can can continue to perform at a high level. And I think
businesses are doing the same thing. You know people want to understand the areas in which they can be more sustainable
certainly to help the environment. And you know raising consciousness through electric vehicles and things that we do on
a daily basis you know as we talked about the mobility of where we all are. I'm someone who travels a lot. You know I'm very
mobile. But if I can do that in a more conscious way I think that's a great thing for the future.
Tom a quick question. Back to Greg O'Hara here. Tom Brady has redefined sustainability as it concerns the human body. You guys
are now in all of your in the travel business forces in what is sustainability the new theme the new mantra in travel. It's not
lost on me. The dichotomy between me Tom Brady and our sustainable bodies
minds more disposable I think than the sustainable. You know one of the things that that people don't realize is you
know Tom said a lot of things about why he does it. One of the things that we can do is financial investors is promote an
investment opportunity to people that allows them to invest profitably in in the
environmentally conscious area. Right. And if you look at what we've what we've created here it's an opportunity of a business
that creates actual cash flow in the near term. And we can transform hundreds of thousands of vehicles and electrify them.
Not just that but turn them into robo taxis are. We believe too. Uber creates better opportunities for Uber
drivers. And we've got all kinds of things in the in the pipe. Not only
that but you know the rental car experience has been the same for 50 years. And we're going to try to automate that rental car
experience so that when you get to the airport you just show up hold your phone to the car and go.