Hertz pays $2.3B for Dollar Thrifty

Car rental giant Hertz is in the process of purchasing Dollar Thrifty. The deal is said to be for $2.3 billion, according to an Associated Press report. As a result, Dollar Thrifty stock increased by seven percent in trading before the market opened today.

According to the report, Hertz has been eying its rental car rival for two years now. Additionally, Avis Budget Group was also interested in purchasing Dollar Thrifty. Hertz made the move, though, at a price of $87.50 per share, representing an eight-percent premium over Friday's closing price for the stock of $81 per share.

In a statement, Hertz Chairman and CEO Mark P. Frissora said that the buyout will give his company two more well-known brands and make the company more competitive in Europe and other international markets.

While both parties have agreed to the deal, the Federal Trade Commission must approve the acquisition. According to the report, Hertz has maintained an open line of communication with the FTC throughout the process.

Hertz has roughly 8,650 locations of various types in 150 nations throughout the globe. Dollar Thrifty has about 280 locations in the U.S. and Canada and 1,300 franchise locations worldwide. The two corporations when combined fulfills Dollar Thrifty President and CEO Scott Thompson's assertion that the "transaction is not only compelling for stockholders, but also will help broaden its reach." In addition, the deal is also projected to save Hertz $160 million each year.

Mercedes-Benz M-Class being recalled due to possible accelerator entrapment

Mercedes-Benz M-Class being recalled due to possible accelerator entrapment

Floor mats impeding gas pedals are continuing to cause problems for automakers. This time its Mercedes-Benz.

According to The Detroit News, the German automaker is recalling all-season accessory floor mats on 2012 and 2013 M-Class models for fear that the mat could entrap the go-pedal.

Mercedes-Benz filed this recall with the National Highway Traffic Safety Administration, possibly effecting 8,675 in the United States. According to a Mercedes-Benz spokesperson, the floor mats "may not conform to the contours of the floor." This could result in the gas pedal being pressed, and not coming back up, resulting in the car continuing to accelerate. Mercedes has recommended that all M-Class owners remove the floor mats for the time being.

The luxury automaker will notify owners of effected vehicles and have dealers replace the mats free of charge. Mercedes-Benz vehicles currently incorporated brake-override systems that nix the gas pedal inputs when both the accelerator and brake are applied simultaneously.

2011 Chevrolet Camaro SS Canfield, Ohio | Haus Auto Group

2011 Chevrolet Camaro SS Canfield, Ohio | Haus Auto Group

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New Accord will feature Honda's answer to Ford's SYNC

Honda desperately needs to hit a home run with its all-new 2013 Accord, a car that's perennially on the best-seller list in the United States.

The current Accord, which is in its eighth generation, debuted in 2008 before most of the latest and greatest technological advances began filtering their way into the interiors of mainstream cars and trucks. As such, Honda's family sedan offering is a ways behind in the infotainment and navigation categories.

For 2013, Honda will launch HondaLink, its next-generation infotainment package, in the Accord. Though the technology will see a much smaller debut in the Fit EV (as seen above), that rollout won't hit the masses the way it undoubtedly will in the Accord.

According to Wired, it's not yet clear if Honda will rely on satellite data or if the automaker will incorporate a cellular modem into the package, but either way, Honda's Aha Radio service will make its first appearance in the 2013 Accord. There's also a possibility that the Accord could be the first machine to use Siri integration from Apple, though that's nothing more than speculation at this point.

We certainly look forward to see what Honda has cooked up for its bread-winning model. After all, as shown most notably by Ford, having the most built-in technology, especially in its first generation, isn't always a slam-dunk with mainstream consumers.

2010 Chevrolet Camaro SS Canfield, Ohio | Haus Auto Group

2010 Chevrolet Camaro SS Canfield, Ohio | Haus Auto Group

2008 Ford Mustang Base Canfield, Ohio | Haus Auto Group

2008 Ford Mustang Base Canfield, Ohio | Haus Auto Group