No Word On Future Of Dollar Thrifty Jobs In Tulsa After Purchase By Hertz

By Craig Day, The News On 6

TULSA, OK -- New Jersey-based Hertz is buying rival Tulsa-based Dollar Thrifty for nearly $1.2 billion.

"In this industry, there have been a number of mergers over the past few years, this is not unique," said Sheila Curley, with the Tulsa Metro Chamber.

Hertz says the deal will give it an additional 1,550 locations. Dollar Thrifty believes it would allow its brands to grow at a more rapid pace than being a stand-alone company.

While corporate leaders say it's a win-win, Sheila Curley says the immediate question for many concerns the 700 Dollar Thrifty jobs in Tulsa.

Craig Day, The News On 6: "Do you feel like those jobs in Tulsa are in jeopardy right now?"

"Not right now. No we do not consider them in jeopardy right now," Curley said. "This is a long process."

Dollar Thrifty President and CEO Scott Thompson says in a statement, they can't speculate on how the transaction might impact the Tulsa or Oklahoma City work force. But he doesn't expect any changes in the Tulsa workforce in 2010.

"The combination of Dollar Thrifty with a larger company like Hertz will provide Dollar Thrifty with greater resources and the technology needed to expand our value focused leisure brands. We see the combination of our brands with Hertz's brands as very compelling," Scott Thompson, Dollar Thrifty's Chief Executive Officer, said.

That's reassuring for area economic experts.

"Probably 18 months ago, we were probably more concerned about Dollar Thrifty and its ability to maintain jobs in Tulsa than we are today," Curley said.

In those 18 months, Dollar Thrifty's stock is up more than 4,000%, making it attractive to Hertz.

Curley says the Tulsa Metro Chamber will work aggressively to make sure Tulsa remains attractive to the new buyer.

"We have a wonderful quality of life, we have a great low cost of doing business, and quality skilled educated workers and so those are great assets to help us retain these jobs." said Curley.

The buyout requires federal approval.

The Chamber is in the early stages of forming a delegation to visit Hertz's New Jersey headquarters to convince corporate leaders they should keep jobs in Tulsa.