you look at what happened with hertz. most of its revenue, two-thirds of it comes from airport locations. but with fewer people flying and fewer people needing rental cars that huge chunk of revenue is gone. the other significant area where hertz gets its revenue, people who are having their vehicles repaired, from being in car accidents. well, that's happening less and less, as people work from home. and drive their cars less. adding to the pain in all of this for hertz, there's been a sharp drop in used car prices so that means it's decreased the value of its fleet. so, you kind of roll this all into one, and hertz looks at its financial picture, which, by the way, it's carrying $17 billion in debt, it went ahead and filed for bankruptcy protection late last night. christi and victor. >>> south america has now become the epicenter of the coronavirus pandemic. that's according to the world health organization. one of the worst countries hit there, brazil. >> yeah, the hospitals are just overwhelmed. the mayor of sao paul

where you look at hertz, hertz you can say it was directly affected by the coronavirus pandemic, peoplef these retailers have had issues long before the coronavirus. they, you know, had this competition from online sales, companies like jc penny, neiman marc marcus, j. crew they all this month filed for bankruptcy. there were also issues with victoria secrets as well. they announced they're closing hundreds of stores. we're seeing a sharp divide between stores allowed to stay open, like the walmarts, targets and lowes, they are going strong while we're seeing the other retailers having issues. a lot of companies we're keeping our eye on, one of them include macy's which reported dire earnings just last week. >> allison, appreciate your input, thank you so much. >>> a world renowned musician giving his community something to smile about. ♪ >> up next, how he is turning his band practice into a weekly event for his neighbors. sleep number 360 smart bed. can it help keep me asleep? absolutely, it senses your movements and automatically adjusts to keep you both comfortable. save $1,000 on t

for avis, when i heard that story about hertz, is that a positive for avis is is it a negative that hertz would be able to restructure in bankruptcy and run more efficiently. or do they just pull back from the market that might be better for avis. i don't know, it's a scary space to be in thankfully i'm just a voir >> you've got an earnings alert for you meantime on shake shack. kate rogers joins us with the details. >> a mixed first quarter for shake shack. a miss on revenues as the company warned in its preliminary earnings report in april, same shack sales fell by 12.8% for the quarter. the end of march really hit the company hard, sales falling to 29% due to shutdowns seen across the country. a few bright spots in these earnings report. they noted the company is beginning to hire back some of the companies that it's furloughed since the low point of the quarter, shake shack is seeing steady increases in sales thanks to expansion of its integrated delivery partnerships and its licensed business is starting to experience small signs of recovery in korea, hong kong and mainland china in

hertz after hours. down about 13% dow jones citing sources saying we could see a chapter 11 bankruptcy filing from hertz as soon as tonight. melissa, back to you >> phil, thank you you' the stock down almost 16% brian, i guess we shouldn't be surprised necessarily. you see less traffic on airplanes and you've got fear of people renting the cars when they get out >> what's interesting they are selling off their fleet. and so phil's talking about how they these debt payments they go from week to week. how many cars can they sell. can they pay the bills if the answer is no, let's shut the light off. for me, i wouldn't touch it. >> all right, again, the stock is down now about 19%. time for the final trade let's go around the horn jeff, what do you say? i think it's worth taking a look at lowe's. the stock's traded lower than home depot, maybe for good reason online sales are looking bet erat worth a look at lowe's >> mike. yeah, i think i like microsoft doesn't sound like i like any stock, but i like micro

car rental giant hertz as fired for filed for bankruptcy in protection of the u.s. as the pandemic is all but wiped out demand for its services it's was struggling before covert 19 led to large scale grounding of the world's headline headlines the company's international operations in europe australia and new zealand aren't included in the u.s. bankruptcy proceedings ryan patel is the global business executive for the drucker school of management at claremont graduate university he joins us now live via skype from los angeles could have you with us ryan as we said the company was in debt before this you surprised by this this filing for bankruptcy protection. well not really but if you think about the history of herds they've been around 1918 and so it's one of those legacy companies big names to actually go down this route and it's pretty big news because they did have $18000000000.00 in debt and if you think about the $1814000000000.00 of it was tied to cards in the last year they lost close to $56000000.00 and part of what they were trying to do was sell all of i

hertz rent a car filing for chapter 11 bankruptcy tonight.lobal travel restrictions and the economic collapse destroyed demand for rental cars, hertz began laying off workers in march but says it has has to have a billion in cash to continue operations while it restructures its debt. hertz which owns dollar and thrifty car rentals operates more than 12,000 s worldwide. . >>> a lot of people are hoping for some luck after the hock down. first casino to reopen in the los angeles area was packed today. reporter nicole comstock takes us inside. a quick temperature check at the door clears each guest to go inside. people have to wear face masks now inside morngo casino and resort in kabazan. hundreds awaited outside as the destination reopened following a nine-week long closure following the covid-19 pandemic. inside the casino, plexiglass shields separate the slot machines and surround table cr keeping the people inside at a safe social distance. the new safety protocols did make the casino experience feel different. but everyone seemed to be fol

hertz for the brands hertz, dollar and thrifty. and sixt. the airport commission approved the four leases. however, the leases did not come to the board of supervisors at that time, due to litigation filed by the rental car companies, about the wage rate included, which has now been settled by the courts. under the leases, the rental car operators would pay the greater of the rent or a percentage formula, 10% of gross revenues. based on the rent structure, the airport would normally expect to receive approximately $343.5 million over the initial five-year term of the leases. however, given the current covid-19-related decrease in passenger traffic, the airport standard lease language suspending mag, when it falls below 80%, will be in effect. and these companies will pay percentage rent until traffic returns. the budget analyst's office has reviewed the leases and recommends approval. and i would be happy to answer any questions that you might have. >> thank you so much, ms. widener. i would like to invite campbell from the budget and legisl

see lots of businesses fail, bankruptcies, you can already see that in the headlines yesterday with hertz filing for bankruptcy. it's going to take a long time to get this economy back to where it was. >> because of those forces and also because of what i'll call lessons learned, some of those lessons will be painful. do you have any sense, yet, of how many, what percentage of those jobs might never come back? >> yeah, give you a sense of it, we've lost -- peak to trough will lose 25 million jobs. of course, there's tens of millions of more people who have lost hours and wages. but 25 million jobs. we'll get half of those back by labor day. and the unemployment rate is going to remain around 10% until we get that vaccine. and it won't be until mid decade until the economy can adjust and we get those jobs back. the kind of jobs we're going to get back are different than the ones we have now. we're going to lose a lot of jobs in the retail sector, hospitality, we're going to have a lot of work reeducating people to make sure they have the skills necessary to take the jobs. >> america's econ

hertz is getting totally wiped out in premarket.kruptcy as soon as today if they can't we work the debt -- they can't rework their debt. marathon petroleum is actually up as the company says it will suspend its share buyback, plus cut spending by a whopping 30%. this is bloomberg. ♪ alix: welcome back to "bloomberg daybreak." i want to take a moment to check on the markets. the s&p had a bullish reversal and a rally into the close. many said there was no catalyst. building on those gains in europe as well as the u.s.. up on s&p futures. if you switch up the board, you can see risk playing out across different classes -- across different asset classes. one is oil. a mixed story in the bond market. selling in italy as the german court decision caused question marks in terms of how the ecb and german government will by any sort of sovereign debt. this data dropping right now, the trade balance for march, the billionwidens, now 44.4 , negative. -$44.4 billion is the trade balance for march. you can imagine what it will be like in april

car rental giant hertz as filed for bankruptcy protection of the u.s. is the pandemic has all but wiped out demand for its service it's was struggling before kogut 19 led to the large scale grounding of the world's airlines the company's international operations in europe astray and new zealand are not included in the u.s. bankruptcy proceedings while patel is from the drucker school of management at claremont graduate university and says the business model of the century old farm made it vulnerable at the time of a major economic crisis. if you think about the history of hertz they've been around since 1918 and so it's one of those legacy companies big names to actually go down this route and it's pretty big news because they did have $18000000000.00 in debt and if you think about the $1814000000000.00 of it was tied to cards in the last year they lost close to $56000000.00 and part of what they were trying to do was sell of its inventory because of all that high debt so they i think they sold around 40000 cars in march but as you know because a coven

. >> hertz filed for bankruptcy protection. america's largest car rental company faces billions in debt. blaming the pandemic for lost business. creditors refuse to allow another suspension for lease payments. hertz laid off 10,000 employees. in business since 1918. also owns thrifty and dollar rent a car. >> new headlines tonight about hydroxychloroquine. just published study find the drug is actually linked to a higher risk of death in coronavirus patients. it found seriously ill covid-19 patients who took the drug were more likely to die or develop dangerous heart symptoms. president trump has been taking medical emergency afternoon. firefighters tell us they took precautions to protect themselves. just as they have on every call from medical help during the pandemic. we say it is important to take other steps to stay safe if you are exercising outside during the hot weather. >> be careful and not cause themselves too much stress. in doing thipgs, hiking. where they were not prepared before. >> crews rescue a bicyclist who f

car rental giant hertz filed for bankruptcy protection in the u.s. as the pandemic has all but wiped out demand for its services it was struggling before covert 19 led to most of the world's airlines being grounded however the company's international operations in europe australia and new zealand are not included in the proceedings u.s. president donald trump has approved a sale of arms to the united arab emirates that's despite evidence that the gulf country violated the terms of the last deal the u.a.e. has been accused of transferring weapons provided by the u.s. to libya yemen and somalia without washington's approval a number of members of congress have opposed the sale. former us vice president joe biden has apologized after telling a black radio host that african-americans who backed president donald trump quote and black he later said that he shouldn't have been so cavalier biden is the presumptive democratic nominee in november as u.s. presidential election those are the headlines now let's get you back to witness. the dry bush out of the pr

. >>> another american company the latest casualty of the coronavirus pandemic car rental giant hertz has filed for bankruptcy after it was unable to reach an agreement with lenders hertz had been struggling before the deadly virus hit with competition from other rental car companies and businesses like uber and lyft >>> when we come back the parents creating incredible adventures for their kids when going away simply isn't an option >>> there's good news tonight about a little imagination creating some big adventures in our back yards it's the unofficial start to summer usually filled with beach trips, pool parties, barbecues and vacation get aways even though most are not hitting the highways or packing airports families are finding new ways to kick off the holiday weekend. the rodriguez family in california canceled their trip to cancun, but that didn't stop them from creating the perfect staycation resort. their backyard with real sand, even a tiki bar. >> it really did feel like we were on a get away >> i want to remember this summer as being able to spend the most time with my f

bankruptcy news, whether it's hertz or a few other companies now. the markets looking past a lot of that. >> i think the market, there is a level of optimism about the opening that is justified. until you hear something bad, we're okay when you look at the projections that we're getting about what will happen in june, or when you look at the incredible interview with dr. fauci in the national geographic, you really want to just say, you know what? do some selling into this rally. i'm a huge believer in dr. fauci. the national geographic article says the fall will be packed with punch if that's the case, you get a big run, we continue to run a little bit i don't know, mike wilson was talking about a terrific run you came back from the 18,000 dow level, but don't get too cute i think fauci's for real if he's for real, the opening will go okay initially, and then we see i want to see. i don't want to -- i look at the atlantic piece today, wells fargo has to cut its dividend, it sends a chill through my spine. i lived through that already in 2010 and 20

for more than 100 years, hertz soldiered on.sion and the 2008 great recession. but the company couldn't withstand the economic impact of today's trump mishandled pandemic. after laying off 12,000 employees and furloughing 4,000 more, hertz on friday announced the company had filed for bankruptcy. meanwhile, senate majority leader mitch mcconnell has yet to take up the latest coronavirus relief bill from house democrats and instead wants to ensure the next round of relief protects employers from liability. which would mean that when employers are -- when employees are forced to return to work, even if they get sick or die from covid-19, employers would be shielded from lawsuits and from accountability. joining me now is senator sherrod brown of ohio. senator, this idea of protecting employers from liability, but in the protecting employers from shutting down by offering real relief, you know, hertz is a company with franchisees. a lot of people work for a small business owner. what is going on in the senate? >> nothing is going o

>> well, hertz is a really interesting one, rosemary.n, they weren't in possibly the best financial position go into this crisis. they've had pressure from uber. 2/3 of their revenue is generated from airports so you can imagine the immediate huge impact that the pandemic has had on their revenues. so, they're looking to restructure. they've announced job cuts of 12,000, 4,000 on furlough. they hope to see it through. they hope the restructure will work. many other businesses are in a similar position. it's crucial there is a way for some of these businesses to survive in some form, some sustainable form post-pandemic, maybe some sort of slimmed down operation because you've got to see it in the wider economy. car rental companies contribute 20% of cars in the united states. a company like this is crucial, the employment of people in the car making business, the car supplying business, and right through the economy. so, each week that we get this news you've got to start thinking of the really big, big picture, and it is a very worrying

i'm told you're taking a look at hertz these days can you tell us about that >> i think if you take a look at hertz, here was an investment-grade company four months ago and it's on the edge of bankruptcy today because they're not able to work out a deal with their lenders. there's this -- when we look at it, we think, it's a great company. people will continue to rent cars are they renting back to what they did to 2019 levels? no are they going to do 50% yes. you know, how long i don't know but you've got all of these different opportunities that are there and, you know, we're going to see hertz now and another company in a couple of weeks it's just -- it's going to be never-ending >> and you're looking at the bonds or you're buying some of the debt already >> yeah, we're looking at the bonds. i think we'll start buying it, you know, yeah, that's where we'll get involved with it >> understood. let me, lastly -- so where are we now on starting an nba season it certainly seems like from reports, we're getting closer. >> yeah, we are. and i think we're getting a lot closer we're going t

hertz also operates the dollar and thrifty car rental brands.e company is not going out of business but will reorganize operations and says it has notified 12,000 of its 38,000 employees in north america they will be losing their jobs. >>> now to the airlines. check your tickets if you plan to fly. overnight a tentative go ahead was issued to 15 airlines allowing them to temporarily halt service to 75 airports due to coronavirus and lack of passengers. this is just the latest snafu troubling air travelers since the pandemic began. we take a look at what you'll face if you venture out. >> this would typically be the start of the busy summer travel season and airlines are only now starting to see a few glimmers of hope. more than 300,000 people are passing through security at america's airports, a number not seen since march but still only 10% of the norm. airlines are trying to entice passengers back especially as photos keep popping up on social media of what appear to be full flights. american airlines says it is restricting the number of peopl

. >>> so hertz arguably the biggest company, the highest profile company yet to turn to bankruptcy to deal with the economic impact of covid-19, rental car company says the drop in travel demand was sudden and dramatic and it's costing them in revenue and future bookings. >> this doesn't mean hertz is going out of business. the company says this move allows them to restructure their debt. hertz does already say they have cut 12,000 jobs in north america and furloughed another 4,000 workers. that speaks to what a lot of people right now is another round of stimulus checks. one member of the trump administration says it's likely. there's pros and cons to that. >> from virtual school graduation to a real pandemic. we meet one medical graduate who is headed for an er to help battle the coronavirus. so, no more tossing and turning... or trouble falling asleep. because only tempur-pedic uses proprietary tempur® material... that continuously adapts and responds to your body, to relieve pressure... so you get deep, uninterrupted sleep. all night. every night. the tempur-pedic summer of sleep

hertz rental care became the highest profile.among the latest in a string of well known american brands like j.c. penney and mee man marcus. let's go to anna stewart with more on these pretty dire numbers. >> yeah, shocking news from hertz. this is a company that already lets 12,000 people go. they announced job cuts in march. and they have 4,000 people already on furlough. and they add to another lengthy list of companies that have filed for bankruptcy as a result of the pandemic. we ha now, hertz called the impact on demand sudden and dramatic. no surprises there. 2/3 of their revenue come from airports, from people heading to an airport and renting a car. of course that has all come to a stand still. and like many of the ones we are seeing filing for bankruptcy that possibly weren't in the best position anyway heading into this crisis. the idea of filing for bankruptcy, the idea of restructure debts t hopes to return postpandemic much stronger. the revenue may not return for some time. when you look at airlines, particularly,

. >>> car rental giant hertz has filed for bankruptcy. car rent at agencies dollar and thrifty facing $17 billion in debt after the coronavirus grounded travel. hertz renting cars since 1918, saying they plan to stay in business while restructuring. >> a potential return for the nba. a disney spokesperson confirming the league is in talks to continue the 2019-2020 season at the espn world of sports complex at walt disney world resort in orlando. games would begin in july, but it's unclear if teams will play the remainder of the season or proceed to the playoffs. disney is the parent company of abc news. >>> when we come back, a tribute 50 years in the making. how one community honored a fallen hero and his family after covid-19 derailed their plans. stay with us. . happen every day. people are surprising themselves the moment they realize they can du more with less asthma. thanks to dupixent, the add-on treatment for specific types of moderate-to-severe asthma. dupixent isn't for sudden breathing problems. it can improve lung function for

we bought a little bit of hertz. if you think about it three months ago pfs trading 25 bips over treasury. today it's in bankruptcy you have a lot of issues out there. >> at the same time, the stock market keeps going up and i know you have individual cases that make it, it's horrible talking about these big name brands with a lot of employees and a lot of residual impact of bank bankruptcy. is it possible the worst may not happen it's going to better than the worst of the fears at the beginning of all of this that we may not get as bad of a second wave if we get one at all. dr. fauci said it's not necessarily inevitable that we do it would be the best thing possible the problem at the end of the day, it's not whether you have a second wave, it's whether people go out and start spending market the market is telling you everything will be fine in two years. what everybody is saying is don't pay attention to what's going on today things will be better. well, i actually agree with that assessment that makes sense the pr

reporter: hertz filed for chapter 11 bankruptcy plan.tock is at 60 cents right now this is tough news for carl icahn who is a major shareholder the company but covid-19 may not be completely responsible for hertz's trouble. they were highly leveraged and had a lot of turn over. by the way the ceo is getting a 700,000-dollar pay day a federal filing released showing the company paid out 16.2 million to 340 top executives on may 19th for retention. analysts not optimistic for shareholders or noteholders because of current economy and massive upheaval. stock was halted 20 minutes ago, liz t picked up trading pretty quickly. hertz, 60 cents a share right now. liz: boy. so a loss of 2.24, is a loss of 78%. cheryl, thank you very. all right. what do we know about may and june? may and june are usually the best times for horse racing fans but today's countdown closer says he has three exchange traded fund that can make your portfolio a triple crown winner. here with his picks e evaluator kevin miller. you have to win the preakness, kentucky der

the car rental company hertz filed for bankruptcy protection last night. the nation's number two rental car company ld off 12,000 employees and furloughe thousands of othin late march. hertz, which also includes the dollar and thrifty car rental brands, lost almost all of its revenue when travel shut down due to the coronavirus. the company was unable to make payments to creditors on its estimated $24 billion in debt, triggering the chapter 11 filing. a massive pre-dawn fire on san francisco's fisherman's wharf destroyed a warehouse and sent plumes of smoke and flames across the waterfront. more than 130 firefighters used aerial ladders and a fireboat to keep the fire from spreading to nearby historic areas. the warehouse is usually unoccupied at night, and there were no injuries reported. an investigation is underway to determine the cause of the blaze. in russia today, president vladimir putin says the coronavirus outbreak there has "stabilized," and that restrictions will continue to ease. moscow streets were busier after almost two months of lockdown i

. >> hertz filed for bankruptcy protection. america's largest car rental company faces billions in debt. blaming the pandemic for lost business. creditors refuse to allow another suspension for lease payments. hertz laid off 10,000 employees. in business since 1918. also owns thrifty and dollar rent a car. >> new headlines tonight about hydroxychloroquine. just published study find the drug is actually linked to a higher risk of death in coronavirus patients. it found seriously ill covid-19 patients who took the drug were more likely to die or develop dangerous heart symptoms. president trump has been taking drug. >> a medical emergency afternoon. firefighters tell us they took precautions to protect themselves. just as they have on every call from medical help during the pandemic. we say it is important to take other steps to stay safe if you are exercising outside during the hot weather. >> be careful and not cause themselves too much stress. in doing thipgs, hiking. where they were not prepared before. >> crews rescue a bicy

the bankruptcy of hertz rental car company could make this summer a great time to buy a used car.es dollar and thrifty and are expected to sell a large portion of its fleet driving down prices for all used cars. >> time to get that malibu. >> that toyota camry. >> there you go. >>> well, plans are being made for what could be the largest drive-in movie theater in the country. >> hard rock stadium where the miami dolphins play is being converted into a drive-in. 230 cars can fit into the stadium and onto the floor there. no word yet on when the first movie will be shown but will there be a line to get out of there also like a concert? >> it will be ace ventura, get the reference? >> you'll have to tell me about that one later. >>> check out the new social distancing plan at burger king. restaurants in germany have created large crowds to keep people apart. a bar in ocean city has come up with bumper tables and tested them over the weekend. the city's mayor is calling for restaurants to be allowed to re-open. >>> a family's hike in the mountains of italy nearly turned tragic. that 1

hertz has laid off nearly half of its staff since april 14th and more losses are probably coming. said last week it plans to close an undisclosed number of locations away from airports. >>> the national hockey league is unveiling its plans for a return to the ice. andy scholes has more in this morning's "bleacher report." hi, andy. >> good morning, laura. you know, there's still a lot of details to be worked out, but one thing is for sure, we are going to have hockey this summer. so, nhl commissioner gary bettman outlined the return-to-play plan yesterday. he says the regular season is over. 24 of the 31 teams will return to the ice and go straight to the stanley cup playoffs. bettman did not say when the games will begin, but he did announce that the earliest training camps would open would be july 1st. the plan is to host games in two yet-to-be-named club cities without fans in the stands. >> as we see some return to normalcy, this is an important day, particularly for nhl fans. i know i join sports fans everywhere when we say we cannot wait for our players to hit the ice again.

hertz is billions of dollars in debt. hertz employed some 38,000 people. so far, 12,000 have already lost their jobs. you didn't have to go far to realize this was a different type of holiday weekend. traffic was a trickle. the pandemic has so far kept people mostly close to home as kris van cleave reports. >> reporter: bumper-to-bumper traffic heading to panama, city florida , beaches, start the memorial day weekend. in kansas, bowling alleys, arcaidz, and threertz back open. >> we're so excited! >> reporter: and hundreds waited in line as casinos reopened in california. >> i missed the casino. been home bored for two months. >> reporter: but airports like l.a.x. looked like ghost towns. airlines saw their busiest day since march on friday, and were still down more than 87%. >> i've been on lockdown since march 12, and i think it's time to actually gut out to do something. >> reporter: barry lieberman heads south tomorrow to florida to see his daughter. do you have any concerns about making this trip in the middle of this pandemic? >> if the appropriate p

have to file for bankruptcy protection energy for the chesapeake for example a car rental company hertz or also if you look at the stock of american ally that traits now below $10.00 a share the stock was actually worse a good $30.00 a share in february so a quite a dramatic shift in overall sentiment and also wall street overall is getting a bit more skeptical so for a 2nd day in a row we saw quite heavy as selling blue chips are down almost 1000 points within 2 trading days and yes drone policy called in congress to increase fiscal spending in fighting the virus he also pledged to use the fed's power how specifically. well i mean he wasn't that specific he was specific what the federal reserve does not plan to do at this point and that is playing around with negative interest rates for all palm mention that if you look at japan or europe that negative interest rates have not necessarily proven that it's really. good being better for the situation even before the crisis hit the federal reserve can try and bring more liquidity to at least try and prevent a financial crisis to help susta

hertz is expected to sell off its cars.ll sell off cars at much lower prices than others used for a rental. >>> honoring americans who lost their lives serving their country. this will be a very different memorial day than in years past. officials weary of having large crowds at memorials because of coronavirus, many ceremonies including wreath layings are going online. the annual observance of the arlington national sem marry will be live streamed and closed to the public. on thursday 1,000 old guard soldiers were able to place small flags near each head stone, more than 240,000 in all. the cemeteries only allowing people visiting their loved ones this weekend. everyone must wear masks. >> it wasn't a question of are we going to do something or aren't we going to do something, it was how can we still honor these men and women. ♪ every time i hear 21 guns >> meantime, the national memorial day event will not have a live concert, it will be live streamed. americans in various ways will honor those who made the ultimate sacri

car giant hertz has fallen victim to the coronavirus rental agency filed for bankruptcy protection in the united states and canada the group says covert 19 has had a dramatic impact on its bookings the company has already cut 10000 jobs to save cash. millions across india and bangladesh are assessing the damage inflicted by syke loan. at least 95 people are known to have been killed the death toll is expected to rise as help reaches villages cut off by floodwaters. to screech stricken mother has lost her son he left in the middle of the night to help others after the cyclon made landfall and never made it harm the family a one of dozens in mourning with loved ones claimed by one of the most powerful cycling's to hit the area in decades. cycling opon flattened homes and crops submerged villages and left millions without power it arrived with winds of up to 185 kilometers per hour. the coroner corona put a stop to everything i had some fish which i caught in the cycle and destroyed everything there's nothing we can do. under that as my shop was destroyed how can i get it repaired since

another weekend of bundesliga action got off to an eerie start on a friday as hertz of berlin took on a cross town football rivals in your own inside an empty stadium. honestly to newcomers when you're in one the capital city bragging rights with a one nil win back in november this time for her to get the revenge. the yawning expense of the limpia study or a strange place for a local derby. to neon almost raise the roof in the 1st tough. pattern since free kick a whisker away in the 43rd minute. but it was happy who broke the deadlock in the 2nd tough they'd had a piece of his thumping header handing head to the lead in the 50th minute social distancing well observed by the captive this week's. pay pinpoint cross and a trademark finish from the bosnian. disastrous only on defending straight from kickoff gave dodi luka back you know an opportunity to double headers lead he judy dispatched his chops to make it. was. and it was 3 by the alamo some excellent wing play from kuhn up found in b.'s image could see the up for the winger to slow time was on the father to be celebrated in style

car rental giant hertz as fallen victim to the coronavirus has filed for bankruptcy protection in the u.s. and canada the group says coded 9000 has had a dramatic impact on its bookings the company has already cut 10000 jobs to save cash. the world health organization and unicef say the global health emergency has interrupted immuno ization programs putting 18000000 children at risk a new report warns that lockdown measures have caused many countries to suspend vaccinations measles polio and color. pakistan has confirmed the death of 907 people in friday's crash of a passenger plane in a residential area of karate 2 passengers survived among the victims are whole families who were traveling home together for the ied holiday it's thought engine failure may have caused the crash. smoke rises from a dense neighborhood outside karate residents heard an explosion and felt the impact of a crash soon word spread a passenger plane had gone down among shops schools and houses. many just said. i saw lots of smoke in the sky from the rooftop of my house so i ran toward the scene and saw the wrec

. >>> another corporate casualty from the virus hertz has filed for chapter 11 bankruptcy. hertz begin laying off workers in march but instead it has $1 billion in cash to continue operations while it restructures the debt. they also own dollar and thrifty car rentals and it operates more than 12,000 locations worldwide. >>> coming up, one of the bay area's biggest school districts s a to reopen, details on the new announcement from administrators. >>> some bay area summer camps have the green light to start welcoming kids. we will tell you which families are getting the first opportunity to fill those coveted we're here for you and we're open. wow. i'm an original. one of a kind. you feel me? love ya'. oop! you look cute! better than you? pop my 100% all-white-meat classic or spicy popcorn chicken combo for just $5.99. my new bite-sized, crispy popcorn chicken is so irresistible you'll want them whenever, so don't resist! pop 'em while you game, hang, or do your thing. pop my 100% all-white-meat classic or spicy popcorn chicken combo for just $5.99. >>> >>> the oakland uni

hertz has named a new ceo in efforts to order off bankruptcy. work's implosion.n car rental operation set it will follow immediately the resignation of the current ceo. hertz has until friday to restructure lease payments if it is to continue with the growing concern. china has followed through on these threats of barley tariffs. 80% for the next five years in australian barley. tensions have been steadily building. paul allen is in sydney with the story. the last time we focus -- spoke about this, we were still waiting for a response from beijing. what are we hearing now? paul: the trade minister heard about this the same way everyone else heard about it which was a two paragraph statement that came from china's ministry of commerce. anti-dumping duty of 73.6% and anti-subsidy duty up 6.9% on australian barley that allows for five years and will come into effect today and china saying that complaint an 18 month investigation and makes no connection at all to australia's push for independent coronavirus inquiry which now has the backing of 120 other countries. fo

hertz filed for bankruptcy last night. >>> if you're missing america's pastime right now, deal on airbnb might appeal. tweet from the morning brew. you can rent pensacola blue clubhouse in florida. clubhouse, batting cage, field, bats, helmets and balls included. if you wish to sleep, room with ten beds. if you divide that among the price, it's not so bad. >> maybe. all right. >>> time to check the forecast. drew, it's going to heat up middle of the week? >> yeah. and that heat wave we're tracking is going to last several days. we'll have excessive heat watch starting monday. right now not too hot. live doppler 7 and satellite showing clear skies across the board and wide range of temperatures. sea breeze just kicked in. coast is cool. 60 in the city. 73 in san jose. 80 in concord, 81 in santa rosa and san mateo at 66. overnight we'll hang on to the clear skies. plenty of stars out there. most spots you can see level off in lower 50s over next 12 hours. for starting temperatures tomorrow morning. tomorrow afternoon will be warmer but excessively hot air will not arrive until monday. tomo

hertz is the latest to file for bankruptcy because of the pandemic.he century-old company said it's planning to stay in business. hertz has been hit hard by worldwide travel restrictions. >>> nba hall of fame legend patri patrick ewing said covid-19 is to be taken seriously and he knows why. he confirmed he tested positive for the coronavirus, and is hospitalized for it. he announced it in a tweet said it should not be taken lightly. >>> in florida, more than 300 deputies will be deployed on beaches this weekend to make sure they're not too crowded. deputies will report status updates to a mobile command center every 30 minutes and that information will be displayed for the public online in real time. officials say they want to help people practice social distancing. >> everybody should know we're going to make every single effort to redirect them to the open spaces so we ask them to work with us and move to the open sand area. >>> well, now to joe biden. the former vice president is expressing regret for comments that he made to a radio show host. he

the rental car company hertz. it said the drop in travel demand was sudden and dramatic and cost them in revenue anticipate future bookings. doesn't mean hertz is going out of business, they are restructuring their debt. they cut 12,000 jobs in north america and furloughed another 4,000 workers. >>> the cdc issued these new guidelines for religious institution that want to re-open this weekend despite the growing up of covid-19. >>> plus the uss roosevelt is back at sea with a new commander after more than 1100 carrier personnel tested positive for coronavirus. how does he plan to protect the sailors. his response when "new day" continues. no uh uh, no way come on, no no n-n-n-no-no only discover has no annual fee on any card. birthdays aren't cancelled. hope isn't quarantined. first words aren't delayed. caring isn't postponed. courage isn't on hold. and love hasn't stopped. u.s. bank thanks you for keeping all of our spirits strong. we've donated millions to those in need and are always here for our customers an

hasrental company hertz told creditors it may be forced to file for bank of seat.n on a $900 million bond it sold in november before it has made even its first payout to investors since the no coupon at all dubious accolade. dani burger joins us. speaking about hertz specifically, how did this company find itself in this situation? >> certainly an exclusive club that no issuer wants to be a part of. when they first offered these bonds in november, there was high demand. since november, the picture has changed and the economy especially, with the demand for rental cars all but disappeared. they basically have to pay back $400 million worth that they owe to other lenders. today is the deadline for them to hammer out a deal what to do with this. if they cannot reach an agreement today and at the moment, reporting suggests there is an impasse, they may become insolvent. people who bought those bonds in november see the company default without getting a single coupon payment. blow,that would really right? to make a big investment and then get nothing before the company

hertz filed for bankruptcy protection overnight. the rental car giant saying this pandemic dealt it a rapid, sudden and dramatic blow. >> the justice department is warning the mayor of los angeles and the governor of illinois about their extended stay-at-home orders. the doj saying federal prosecutors might have to intervene if they believe the local and state authorities are going too far and infringing on constitutional protections. in the meantime, there are more than 1.6 million coronavirus cases and nearly 97,000 deaths. our correspondents are covering the stories across the country. kathy park is in long beach, new york. one of the areas telling out of town residents to stay away. kathy, good morning. >> reporter: peter, good morning to you. people all across the country are looking to beat the quarantine fatigue, so the beach might be on their list. here in long beach, they are responding to the pandemic with a new set of rules. that includes keeping nonresidents away. this morning, more beaches are back open just in time for

hertz owns a lot of cars hertz has a lot of debt piled on and we just don't -- we can't say that, you know what? don't worry about hertz. macy's, 1.1 billion. do we want to buy that >> i don't know. you're talking about the decision to try to sell 1.1 billion of notes due in2025. what is something like that going to be priced at is the key question >> 7, 8, 6 >> you think 6 >> i don't know. look at the yield. look at the yield in the common stock. then we have regeneron which feels to me like when they came in -- when pnc came in and sold blackrock. if you got any, you crushed it i'm urging people on this deal to try to get as much regeneron as possible. regeneron is buying 5 billion of it sanofi needs the money regeneron has monoclonal antibody, they have a great franchise, that's the stock today like blackrock was the stock when pnc needed the money. >> yeah. the biggest public equity offering ever in health care and you're right, sanofi needs the money for cancer i guess you could by extension deduce that regeneron feels good about their prospects whether it's ilea or vaccines. >>

hertz declared bankruptcy with industry experts expecting the company to sell a large portion of itsleet. a rental car companies like hertz enterprise alamo, a this and many others routinely sell off cars usually after a year or 2 of service often selling these cars online with no haggle pricing and at a significant discount to other used car sellers most of the companies list the cars for sale on their website where shoppers can search online request. test drives. shoppers can also rent to own a car. spreading joy to strangers how the anonymous heart ferry is bringing smiles to one east bay neighborhood. >>also business owners and lake tahoe very angry over their mayor's decision to keep shelter-in-place orders what they're demanding. and there might be some pro sports this summer after all how the nba and nhl say they're moving forward with plans to return to game play. and here's a look at coronavirus numbers in the bay area we will be back with more news after the break. >>is for sports fans both the nba and nhl are moving forward with plans to return to game play this summer. it

hertz is the latest business to file for bankruptcy protection because of the pandemic. the more than century-old company says it plans to stay in business and use the filing to restructure. hertz has been hit hard especially by the worldwide air travel restrictions. >>> macy's will reopen 80 stores around the country with new cleaning and social distancing parol coals, projecting a first quarter loss of more than a billion after closing store on march 18th. >>> in florida, universal orlando resort owned by the parent company of nbc, is set to reopen to visitors on june 5th. visitors and workers will have their temperatures check. they will also limit capacity to promote social distancing. >>> and more than 300 deputies will be deployed on the beaches this weekend to make sure they're not too crowded. deputies will report status updates to a mobile command center every 30 minutes. that information will be displayed for the public online in real time. officials say they want to help people practice social distancing. >> everybody should know we're going to make everyone s

. >> and let's talk about hertz. car rental is not going to survive this time. >> yeah. >> and why are they failing when the others aren't? >> well, we'll see if the others can hold on. you know, they started with an awful lot of debt, and suddenly when your customer disappears, you can't pay your debt. they couldn't make those debt payments. about two-thirds of rental car activity comes from airports. you know, flying traffic is down 94% the past couple of months. other people who rent cars, people who are traveling for business, they're not doing that. or a lot of people rent cars when they've had an accident. well, people aren't driving and getting in accidents as much either. so the demand has disappeared here. and this is something that i think travel in particular is the epicenter of what's going to be kind of a remade landscape. i'm going to be looking for more bankruptcieies for airlines and for car and travel agencies and the like in the coming days. >> that's sobering. >>> let's tub modealk about mod. so mo