Dollar Thrifty Says No Comment

NewsOn6.com

TULSA, OK -- The Dollar Thrifty Automotive Group is not making any public comments about rumors of layoffs or the sale of the car rental company.

A spokesperson for the Tulsa-based company says Dollar Thrifty is in a ‘quiet period' leading up to the release of the firm's 3rd quarter earnings statement.

An analyst says the replacement of Dollar Thrifty's president may speed up the sale of the car rental company.

Dollar Thrifty President and Chief Executive Gary Paxton has been replaced with Chief Financial Officer Scott Thompson.

Analyst Michael Williams says in a note to investors that the move might allow the company to act more quickly. He says a sale is probably Dollar Thrifty's best strategic alternative and he expects the company to be bought by Hertz Global Holdings.

During the past year Dollar Thrifty's stock has fallen from a high of $36.16 per share in October to a low of 64 cents a share last Friday.

Dollar Thrifty is expected to release its earning report on or before November 5th.

The Associated Press contributed to this story.