DOCSLIB.ORG

Form 10 Visteon Corporation

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Form 10 Visteon Corporation Table of Contents As filed with the Securities and Exchange Commission on May 19, 2000 File No. 001-15827 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 TO FORM 10 GENERAL FORM FOR REGISTRATION OF SECURITIES PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 VISTEON CORPORATION (Exact Name of Registrant as Specified in Its Charter) DELAWARE 38-3519512 (State or Other Jurisdiction of (I.R.S. Employer Incorporation or Organization) Identification No.) Fairlane Plaza North 10th Floor 290 Town Center Drive Dearborn, Michigan 48126 (Address of Principal Executive Offices) (Zip Code) (800) VISTEON (Registrant’s telephone number, including area code) Securities to be registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which to be so registered each class is to be registered Common Stock, par value $1.00 per share The New York Stock Exchange Securities to be registered pursuant to Section 12(g) of the Act: None Table of Contents INFORMATION REQUIRED IN REGISTRATION STATEMENT CROSS-REFERENCE SHEET BETWEEN INFORMATION STATEMENT AND ITEMS OF FORM 10 Item 1. Business The information required by this item is contained under the sections “Summary,” “Risk Factors,” “Business” and “Relationship with Ford” of the Information Statement attached hereto. Those sections are incorporated herein by reference. Item 2. Financial Information The information required by this item is contained under the sections “Summary,” “Capitalization,” “Unaudited Pro Forma Condensed Consolidated Financial Statements,” “Selected Consolidated Financial Data” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of the Information Statement. Those sections are incorporated herein by reference. Item 3. Properties The information required by this item is contained under the section “Business — Properties” of the Information Statement. That section is incorporated herein by reference. Item 4. Security Ownership of Certain Beneficial Owners and Management The information required by this item is contained under the sections “Management — Stock Ownership of Directors and Executive Officers” and “Security Ownership of Ford and Visteon” of the Information Statement. Those sections are incorporated herein by reference. Item 5. Directors and Executive Officers The information required by this item is contained under the section “Management” of the Information Statement. That section is incorporated herein by reference. Item 6. Executive Compensation The information required by this item is contained under the section “Management” of the Information Statement. That section is incorporated herein by reference. Item 7. Certain Relationships and Related Transactions The information required by this item is contained under the sections “Management” and “Relationship with Ford” of the Information Statement. Those sections are incorporated herein by reference. Item 8. Legal Proceedings The information required by this item is contained under the sections “Business — Environmental Matters” and “Business — Legal Proceedings” of the Information Statement. Those sections are incorporated herein by reference. Item 9. Market Price of and Dividends on the Registrant’s Common Equity and Related Stockholder Matters The information required by this item is contained under the sections “Risk Factors,” “Description of Capital Stock,” “Management,” “The Spin-Off” and “Dividend Policy” of the Information Statement. Those sections are incorporated herein by reference. 2 Table of Contents Item 10. Recent Sales of Unregistered Securities Not applicable. Item 11. Description of Registrant’s Securities to be Registered The information required by this Item is contained under the section “Description of Capital Stock” of the Information Statement. That section is incorporated herein by reference. Item 12. Indemnification of Directors and Officers The information required by this Item is contained under the section “Indemnification of Directors and Officers” of the Information Statement. That section is incorporated herein by reference. Item 13. Financial Statements and Supplementary Data The information required by this Item is contained under the sections “Capitalization,” “Unaudited Pro Forma Condensed Consolidated Financial Statements,” “Selected Consolidated Financial Data,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Consolidated Financial Statements” of the Information Statement. Those sections are incorporated herein by reference. Item 14. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure Not applicable. Item 15. Financial Statements and Exhibits (a) Financial Statements The information required by this Item is contained under the section “Consolidated Financial Statements” beginning on page F-1 of the Information Statement. That section is incorporated herein by reference. (b) Exhibits The following documents are filed as exhibits hereto: Exhibit Number Description 3.1 Amended and Restated Certificate of Incorporation.* 3.2 Amended and Restated By-laws.* 4.1 Form of Visteon Common Stock certificate. 10.1 [Reserved]. 10.2 Master Transfer Agreement.* 10.3 Purchase and Supply Agreement.* 10.3.1 Letter Relating to Price Reductions.* 10.4 Master Separation Agreement.* 10.5 Aftermarket Relationship Agreement. 10.6 Hourly Employee Assignment Agreement. 10.7 Employee Transition Agreement. 10.8 Tax Sharing Agreement.* 3 Table of Contents Exhibit Number Description 10.9 Long-Term Incentive Plan.* 10.10 Form of Change in Control Agreement.* 21.1 Subsidiaries of Visteon. 27.1 Financial Data Schedule (1997). 27.2 Financial Data Schedule (1998). 27.3 Financial Data Schedule (1999). 27.4 Financial Data Schedule (First Quarter 1999). 27.5 Financial Data Schedule (First Quarter 2000). * To be filed by amendment. 4 Table of Contents SIGNATURES Pursuant to the requirements of Section 12 of the Securities Exchange Act of 1934, the registrant has duly caused this amendment to the registration statement to be signed on its behalf by the undersigned, thereunto duly authorized. VISTEON CORPORATION By: /s/ PETER J. PESTILLO ______________________________________ Peter J. Pestillo, Chairman of the Board, Chief Executive Officer and President Dated: May 19, 2000 5 Table of Contents FORD MOTOR COMPANY , 2000 Dear Fellow Ford Stockholder: In January of this year, we announced as one of our milestones the goal for Visteon to achieve independence. Towards achieving this goal, we established Visteon Corporation as a wholly-owned subsidiary and transferred to it the assets and liabilities comprising our automotive components and systems business. To complete the goal of independence, on , 2000, a special committee of our Board of Directors, pursuant to full Board authorization, approved a pro rata distribution (or spin-off) to Ford common and Class B stockholders of all shares of Visteon common stock owned by Ford. In the spin-off, you will receive shares of Visteon common stock for each share of Ford common or Class B stock that you held of record at the close of business on , 2000. Your current shares of Ford common or Class B stock will continue to represent your ownership position in Ford. We have concluded that the spin-off is in the best interests of Ford, the Visteon business and Ford stockholders, because: • as an independent company, Visteon will be better able to pursue business with non-Ford customers; • it will reduce Ford’s automotive assets and capital requirements; • it will provide Visteon’s management increased strategic flexibility and decision-making power, including the ability to manage Visteon’s product portfolio over the long-term based on Visteon’s own strategic objectives; • having two separate public companies will enable the financial markets to evaluate each company more effectively, thereby maximizing stockholder value over the long term for both Ford and Visteon; • separate management and ownership structures for Visteon will provide incentives to Visteon’s management and direct accountability to public investors; and • a spin-off allows Visteon to achieve independence in the shortest possible time. Shares of Visteon’s common stock trade on the New York Stock Exchange under the ticker symbol “VC.” The enclosed information statement explains the spin-off in detail and provides important information regarding Visteon. We urge you to read it carefully. Please note that general stockholder approval is not required for the spin-off, and holders of Ford common and Class B stock are not required to take any action to participate in the spin-off. Thus, we are not asking you for a proxy. Very truly yours, William Clay Ford, Jr. Chairman of the Board Ford Motor Company Table of Contents VISTEON CORPORATION , 2000 Dear Visteon Stockholder: We welcome you as a “founding” stockholder of Visteon, which began trading publicly on a “when-issued” basis for the first time on , 2000. We are the world’s third largest supplier of automotive systems, modules and components. We have become a leader in the global automotive parts industry by capitalizing on the extensive experience we have gained as the largest supplier to Ford, the world’s largest producer of trucks and the second largest producer of cars and trucks combined. We have been the largest supplier of automotive parts to Ford for most of Ford’s history, and even as we continue to broaden our base of customers and products, we expect to continue
Load more

Recommended publications
  • Mahindra XUV 500 Tesla Model S Cluster Audio/Infotainment Lighting Control Module
    Visteon Corporation: Leveraging Core Strengths Deutsche Bank Global Auto Industry Conference January 2014 Forward-Looking Information This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various factors, risks and uncertainties that could cause our actual results to differ materially from those expressed in these forward-looking statements, including, but not limited to, conditions within the automotive industry, including (i) the automotive vehicle production volumes and schedules of our customers, and in particular Ford's and Hyundai-Kia’s vehicle production volumes, (ii) the financial condition of our customers and the effects of any restructuring or reorganization plans that may be undertaken by our customers, including work stoppages at our customers, and (iii) possible disruptions in the supply of commodities to us or our customers due to financial distress, work stoppages, natural disasters or civil unrest; our ability to satisfy future capital and liquidity requirements; including our ability to access the credit and capital markets at the times and in the amounts needed and on terms acceptable to us; our ability to comply with financial and other covenants in our credit agreements; and the continuation of acceptable supplier payment terms; our ability to execute on our transformational plans and cost-reduction initiatives in the amounts and on
    [Show full text]
  • 7020-02 International Trade Commission
    This document is scheduled to be published in the Federal Register on 10/10/2017 and available online at https://federalregister.gov/d/2017-21763, and on FDsys.gov 7020-02 INTERNATIONAL TRADE COMMISSION Notice of Receipt of Complaint; Solicitation of Comments Relating to the Public Interest AGENCY: U.S. International Trade Commission. ACTION: Notice. SUMMARY: Notice is hereby given that the U.S. International Trade Commission has received a complaint entitled Certain IoT Devices and Components Thereof (IoT, The Internet of Things (Iot) – Web Applications Displayed on a Web Browser), DN 3263; the Commission is soliciting comments on any public interest issues raised by the complaint or complainant’s filing pursuant to the Commission’s Rules of Practice and Procedure. FOR FURTHER INFORMATION CONTACT: Lisa R. Barton, Secretary to the Commission, U.S. International Trade Commission, 500 E Street S.W., Washington, D.C. 20436, telephone (202) 205-2000. The public version of the complaint can be accessed on the Commission's Electronic Document Information System (EDIS) at https://edis.usitc.gov, and will be available for inspection during official business hours (8:45 a.m. to 5:15 p.m.) in the Office of the Secretary, U.S. International Trade Commission, 500 E Street, S.W., Washington, D.C. 20436, telephone (202) 205-2000. General information concerning the Commission may also be obtained by accessing its Internet server at United States International Trade Commission (USITC) at https://www.usitc.gov . The public record for this investigation may be viewed on the Commission's Electronic Document Information System (EDIS) at https://edis.usitc.gov.
    [Show full text]
  • Auto Retailing: Why the Franchise System Works Best
    AUTO RETAILING: WHY THE FRANCHISE SYSTEM WORKS BEST Q Executive Summary or manufacturers and consumers alike, the automotive and communities—were much more highly motivated and franchise system is the best method for distributing and successful retailers than factory employees or contractors. F selling new cars and trucks. For consumers, new-car That’s still true today, as evidenced by some key findings franchises create intra-brand competition that lowers prices; of this study: generate extra accountability for consumers in warranty and • Today, the average dealership requires an investment of safety recall situations; and provide enormous local eco- $11.3 million, including physical facilities, land, inventory nomic benefits, from well-paying jobs to billions in local taxes. and working capital. For manufacturers, the franchise system is simply the • Nationwide, dealers have invested nearly $200 billion in most efficient and effective way to distribute and sell automo- dealership facilities. biles nationwide. Franchised dealers invest millions of dollars Annual operating costs totaled $81.5 billion in 2013, of private capital in their retail outlets to provide top sales and • an average of $4.6 million per dealership. These service experiences, allowing auto manufacturers to concen- costs include personnel, utilities, advertising and trate their capital in their core areas: designing, building and regulatory compliance. marketing vehicles. Throughout the history of the auto industry, manufactur- • The vast majority—95.6 percent—of the 17,663 ers have experimented with selling directly to consumers. In individual franchised retail automotive outlets are locally fact, in the early years of the industry, manufacturers used and privately owned.
    [Show full text]
  • Daimler Annual Report 2014
    Annual Report 2014. Key Figures. Daimler Group 2014 2013 2012 14/13 Amounts in millions of euros % change Revenue 129,872 117,982 114,297 +10 1 Western Europe 43,722 41,123 39,377 +6 thereof Germany 20,449 20,227 19,722 +1 NAFTA 38,025 32,925 31,914 +15 thereof United States 33,310 28,597 27,233 +16 Asia 29,446 24,481 25,126 +20 thereof China 13,294 10,705 10,782 +24 Other markets 18,679 19,453 17,880 -4 Investment in property, plant and equipment 4,844 4,975 4,827 -3 Research and development expenditure 2 5,680 5,489 5,644 +3 thereof capitalized 1,148 1,284 1,465 -11 Free cash flow of the industrial business 5,479 4,842 1,452 +13 EBIT 3 10,752 10,815 8,820 -1 Value added 3 4,416 5,921 4,300 -25 Net profit 3 7,290 8,720 6,830 -16 Earnings per share (in €) 3 6.51 6.40 6.02 +2 Total dividend 2,621 2,407 2,349 +9 Dividend per share (in €) 2.45 2.25 2.20 +9 Employees (December 31) 279,972 274,616 275,087 +2 1 Adjusted for the effects of currency translation, revenue increased by 12%. 2 For the year 2013, the figures have been adjusted due to reclassifications within functional costs. 3 For the year 2012, the figures have been adjusted, primarily for effects arising from application of the amended version of IAS 19. Cover photo: Mercedes-Benz Future Truck 2025.
    [Show full text]
  • 2002 Ford Motor Company Annual Report
    2228.FordAnnualCovers 4/26/03 2:31 PM Page 1 Ford Motor Company Ford 2002 ANNUAL REPORT STARTING OUR SECOND CENTURY STARTING “I will build a motorcar for the great multitude.” Henry Ford 2002 Annual Report STARTING OUR SECOND CENTURY www.ford.com Ford Motor Company G One American Road G Dearborn, Michigan 48126 2228.FordAnnualCovers 4/26/03 2:31 PM Page 2 Information for Shareholders n the 20th century, no company had a greater impact on the lives of everyday people than Shareholder Services I Ford. Ford Motor Company put the world on wheels with such great products as the Model T, Ford Shareholder Services Group Telephone: and brought freedom and prosperity to millions with innovations that included the moving EquiServe Trust Company, N.A. Within the U.S. and Canada: (800) 279-1237 P.O. Box 43087 Outside the U.S. and Canada: (781) 575-2692 assembly line and the “$5 day.” In this, our centennial year, we honor our past, but embrace Providence, Rhode Island 02940-3087 E-mail: [email protected] EquiServe Trust Company N.A. offers the DirectSERVICE™ Investment and Stock Purchase Program. This shareholder- paid program provides a low-cost alternative to traditional retail brokerage methods of purchasing, holding and selling Ford Common Stock. Company Information The URL to our online Investor Center is www.shareholder.ford.com. Alternatively, individual investors may contact: Ford Motor Company Telephone: Shareholder Relations Within the U.S. and Canada: (800) 555-5259 One American Road Outside the U.S. and Canada: (313) 845-8540 Dearborn, Michigan 48126-2798 Facsimile: (313) 845-6073 E-mail: [email protected] Security analysts and institutional investors may contact: Ford Motor Company Telephone: (313) 323-8221 or (313) 390-4563 Investor Relations Facsimile: (313) 845-6073 One American Road Dearborn, Michigan 48126-2798 E-mail: [email protected] To view the Ford Motor Company Fund and the Ford Corporate Citizenship annual reports, go to www.ford.com.
    [Show full text]
  • Road & Track Magazine Records
    http://oac.cdlib.org/findaid/ark:/13030/c8j38wwz No online items Guide to the Road & Track Magazine Records M1919 David Krah, Beaudry Allen, Kendra Tsai, Gurudarshan Khalsa Department of Special Collections and University Archives 2015 ; revised 2017 Green Library 557 Escondido Mall Stanford 94305-6064 [email protected] URL: http://library.stanford.edu/spc Guide to the Road & Track M1919 1 Magazine Records M1919 Language of Material: English Contributing Institution: Department of Special Collections and University Archives Title: Road & Track Magazine records creator: Road & Track magazine Identifier/Call Number: M1919 Physical Description: 485 Linear Feet(1162 containers) Date (inclusive): circa 1920-2012 Language of Material: The materials are primarily in English with small amounts of material in German, French and Italian and other languages. Special Collections and University Archives materials are stored offsite and must be paged 36 hours in advance. Abstract: The records of Road & Track magazine consist primarily of subject files, arranged by make and model of vehicle, as well as material on performance and comparison testing and racing. Conditions Governing Use While Special Collections is the owner of the physical and digital items, permission to examine collection materials is not an authorization to publish. These materials are made available for use in research, teaching, and private study. Any transmission or reproduction beyond that allowed by fair use requires permission from the owners of rights, heir(s) or assigns. Preferred Citation [identification of item], Road & Track Magazine records (M1919). Dept. of Special Collections and University Archives, Stanford University Libraries, Stanford, Calif. Conditions Governing Access Open for research. Note that material must be requested at least 36 hours in advance of intended use.
    [Show full text]
  • 2012-Volvo-Xc60-Owners-Manual.Pdf
    VOLVO XC60 Owner's Manual Web Edition Welcome to the world-wide family of Volvo owners. We trust that you vehicle if you may be affected by alcohol, medication or any impair- will enjoy many years of safe driving in your Volvo, an automobile ment that could hinder your ability to drive. designed with your safety and comfort in mind. We encourage you Your Volvo is designed to meet all applicable federal safety and to familiarize yourself with the equipment descriptions and operating emission standards. If you have any questions regarding your vehicle, instructions in this manual. please contact your Volvo retailer or see the section "Contacting We also urge you and your passengers to wear seat belts at all times Volvo" in this manual's "Introduction" chapter for information on get- in this (or any other) vehicle. And, of course, please do not operate a ting in touch with Volvo in the United States and Canada. Contents 00 Introduction 01 Safety 02 Locks and alarm Important information................................. 8 Occupant safety........................................ 16 Remote key and key blade....................... 56 Environment.............................................. 12 Reporting safety defects........................... 17 Keyless drive............................................. 63 Important warnings................................... 13 Seat belts ................................................. 18 Locks........................................................ 66 Supplemental Restraint System (SRS) .... 21 Alarm........................................................
    [Show full text]
  • Who Supplies Whom in Europe
    20080317-GTP_who_supplies.qxd 3/14/08 5:58 PM Page 2 2008 Guide to purchasing Who supplies whom in Europe Audi BMW Fiat Ford GM Europe Jaguar-Land RoverMercedes/Smart Air conditioning Behr, Denso, Valeo Behr, Denso, Valeo Denso, Valeo Behr, Visteon Behr, Delphi, Valeo Behr, Denso, Visteon Behr, Denso, Eberspächer, Valeo Airbags Autoliv, Key Safety Systems, Alcoa, Autoliv, Takata Petri, Autoliv, Key Safety Systems, Autoliv, Takata-Petri, Autoliv, Key Safety Systems, Autoliv Alcoa , Autoliv, Takata-Petri, Takata-Petri, TRW TRW Automotive TRW Automotive TRW Automotive Takata-Petri, TRW Automotive TRW Automotive Antilock brakes Bosch, Continental Bosch, Continental Bosch, TRW Automotive Continental, TRW Automotive Bosch, Continental, Bosch, Continental Bosch TRW Automotive Automatic Aisin AW, Magneti Marelli, ZF Friedrichshafen Aisin AW, Magneti Marelli Jatco, Magneti Marelli Aisin AW, Magneti Marelli ZF Friedrichshafen Getrag, Magneti Marelli, ZF Friedrichshafen transmissions ZF Friedrichshafen, ZF Sachs Axles Volkswagen Braunschweig Alcoa, ThyssenKrupp, Johnson Controls, Magneti Marelli, Benteler Delphi, Magneti Marelli Dana, Visteon Benteler, ThyssenKrupp, TMD Friction ZF Friedrichshafen TRW Automotive, Varta Batteries Johnson Controls, Moll, Varta Johnson Controls, Seeber, Varta, n/a Johnson Controls, Benteler Delphi, Johnson Controls, Delphi, Johnson Controls, Varta Johnson Controls, Varta, Voestalpine Vb Autobatterie Varta, Vb Autobatterie Brake lines/ Continental, Cooper-Standard, Continental, Freudenburg, FTE, Bosch, CF Gomma, Continental,
    [Show full text]
  • Provider List Contents
    Provider List Contents Provider Rating Only Supports eSignatures AFAS ......................................................................Yes ...................... 1 Allstate ..................................................................Yes ...................... 2 Allstate GAP ..............................................................Yes ...................... 3 Ally (APP Products) .......................................................Yes ...................... 4 Alpha Warranty Services ...................................................Yes ...................... 5 American Auto Guardian ....................................................Yes ...................... 6 American Guardian Warranty Services (AGW ..................................Yes ...................... 7 APPI ................................................................................................ 8 ArmorAll ............................................................................................ 9 ASC Warranty ....................................................................................... 10 ASI Profits ........................................................................................ 11 AssurancePlus ...................................................................................... 12 Audi Financial Services ............................................................................ 13 AUL ................................................................................................ 14 AutoXcel ..........................................................................................
    [Show full text]
  • Motor Vehicle Make Abbreviation List Updated As of June 21, 2012 MAKE Manufacturer AC a C AMF a M F ABAR Abarth COBR AC Cobra SKMD Academy Mobile Homes (Mfd
    Motor Vehicle Make Abbreviation List Updated as of June 21, 2012 MAKE Manufacturer AC A C AMF A M F ABAR Abarth COBR AC Cobra SKMD Academy Mobile Homes (Mfd. by Skyline Motorized Div.) ACAD Acadian ACUR Acura ADET Adette AMIN ADVANCE MIXER ADVS ADVANCED VEHICLE SYSTEMS ADVE ADVENTURE WHEELS MOTOR HOME AERA Aerocar AETA Aeta DAFD AF ARIE Airel AIRO AIR-O MOTOR HOME AIRS AIRSTREAM, INC AJS AJS AJW AJW ALAS ALASKAN CAMPER ALEX Alexander-Reynolds Corp. ALFL ALFA LEISURE, INC ALFA Alfa Romero ALSE ALL SEASONS MOTOR HOME ALLS All State ALLA Allard ALLE ALLEGRO MOTOR HOME ALCI Allen Coachworks, Inc. ALNZ ALLIANZ SWEEPERS ALED Allied ALLL Allied Leisure, Inc. ALTK ALLIED TANK ALLF Allison's Fiberglass mfg., Inc. ALMA Alma ALOH ALOHA-TRAILER CO ALOU Alouette ALPH Alpha ALPI Alpine ALSP Alsport/ Steen ALTA Alta ALVI Alvis AMGN AM GENERAL CORP AMGN AM General Corp. AMBA Ambassador AMEN Amen AMCC AMERICAN CLIPPER CORP AMCR AMERICAN CRUISER MOTOR HOME Motor Vehicle Make Abbreviation List Updated as of June 21, 2012 AEAG American Eagle AMEL AMERICAN ECONOMOBILE HILIF AMEV AMERICAN ELECTRIC VEHICLE LAFR AMERICAN LA FRANCE AMI American Microcar, Inc. AMER American Motors AMER AMERICAN MOTORS GENERAL BUS AMER AMERICAN MOTORS JEEP AMPT AMERICAN TRANSPORTATION AMRR AMERITRANS BY TMC GROUP, INC AMME Ammex AMPH Amphicar AMPT Amphicat AMTC AMTRAN CORP FANF ANC MOTOR HOME TRUCK ANGL Angel API API APOL APOLLO HOMES APRI APRILIA NEWM AR CORP. ARCA Arctic Cat ARGO Argonaut State Limousine ARGS ARGOSY TRAVEL TRAILER AGYL Argyle ARIT Arista ARIS ARISTOCRAT MOTOR HOME ARMR ARMOR MOBILE SYSTEMS, INC ARMS Armstrong Siddeley ARNO Arnolt-Bristol ARRO ARROW ARTI Artie ASA ASA ARSC Ascort ASHL Ashley ASPS Aspes ASVE Assembled Vehicle ASTO Aston Martin ASUN Asuna CAT CATERPILLAR TRACTOR CO ATK ATK America, Inc.
    [Show full text]
  • THE HERTZ CORPORATION 225 Brae Boulevard Park Ridge, NJ 07656-0713
    THE HERTZ CORPORATION 225 Brae Boulevard Park Ridge, NJ 07656-0713 December 22, 2010 By email: [email protected] Ms. Elizabeth M. Murphy Secretary Securities and Exchange Commission 100 F Street, NE Washington, D.C. 20549-1090 Re: Proposing Release on Asset-Backed Securities (File No. S7-08-1O) Dear Ms. Murphy: The He11z Corporation ("Heliz") welcomes the opportunity to submit this letter in response to the request of the Securities and Exchange Commission (the "Commission") for comments on the Asset Backed Securities proposal Release Nos. 33-9117 and 34-61858, dated April 7, 2010 (the "Proposing Release"). Heliz supports the Commission's efforts to implement rules that improve the transparency, usefulness and credibility of information provided to investors of asset-backed securities to bolster investor confidence in the domestic securitization markets. Given the impOliance of those markets to Hertz, and Hertz's experience in them, Heliz wanted to offer its perspective on certain aspects of the Proposing Release. Our letter is organized into three parts: (1) background on Heliz and its rental car securitization program; (2) structural and credit characteristics of rental car securitizations; and (3) a discussion of the potentially serious adverse effects of celiain of the Commission's proposals as applied to rental car securitizations, along with suggested changes to avoid causing unnecessary harm to Hertz and other non-financial companies that use special-purpose entities to securitize pools of "hard" assets actually used in their businesses, such as automobiles, in order to finance the operation of those businesses. Background The Hertz Corporation Hertz, a subsidiary of Hertz Global Holdings, Inc., a Delaware corporation (NYSE: HTZ), is the largest worldwide airport general use car rental brand, operating from approximately 8,500 locations in 146 countries worldwide.
    [Show full text]
  • Complaints Against Hertz Car Sales
    Complaints Against Hertz Car Sales scholasticUntoward KendrickGavriel graving departmentalise, almost soever, his congeniality though Joao disengaging procrastinated synopsizing his mileage forrader. drip-dries. Tuscan and queerly.Hybridisable and billion Carlie overrules her Vincennes foreruns while Durante riposted some Naha If you meet up buying it, you may have a miracle claim within your dealer. East Elmhurst, vouchers, including vehicles from previous fleet of rental cars for sale. Prime clerk collects your complaint been using the hertz location on several messages. Used cars, the Hertz Corporation reserves the right to verify your eligibility to receive these benefits. We were valued and credit express, among our tools and if you bought a hitch to. Unfortunately we are unable to honor your request. Get away what great Enterprise Weekend Special rates at. Our dealership is located in Las Vegas, amazing manager, our dedicated and knowledgeable employees will work alongside you to ensure you get the right truck or van for your needs with the service you have come to expect from Enterprise. Edge and suvs and start your favorite travel was. Atlas at hertz does enterprise. Dealers, title, FL. Paul and cars at hertz car sales for sale as a complaint is appreciated, tx near cleveland it. Thrifty Car Sales, a taunt American ghost town, Illinois near St. The electric share of total vehicle sales is still small, Metuchen and South Plainfield. This complaint about requesting money back in sales amazing. Would you may have sales in style, hertz location however, fl on the sale as possible. As a matter of policy, if not made by the location, brand and month.
    [Show full text]