The announcement below was sent to PhillyCar Share members.
The interesting verbiage from the Press release…
http://www.phillycarshare.org/wp-content/uploads/2011/08/EHI-acquires-PCS.pdf
"The acquisition closes tomorrow, Aug. 10. Financial terms of the transaction
will not be disclosed. PhillyCarShare will operate as a for-profit service, and
the brand name will be maintained during the integration process. Almost all
PCS staff members have been offered positions."
It looks like the sale might be related to taxes as much as anything, (loss of
501c status?) as the press release contains the following...
In June 2010, a New York Supreme Court Justice found that car sharing “is in
'the trade or business of renting or leasing motor vehicles' as those words are
traditionally and plainly understood." In addition, the judge wrote: "This
bargain – use of a car in exchange for a fee – appears little different from
‘traditional rental car’ companies...”
I'm not certain why that reference is in the press release… pretty much out of
context where it is inserted.
Personally, based on my past experience with the acquisition of National Car
Rental by Enterprise/Almo, I expect rates to go up and service to go down.
In any event, it is good to see that Private Enterprise has decided to
"support" the shared vehicle model and be a tax paying, instead of tax
consuming entity.
(BTW, Enterprise is hardly a "small business" with annual revenues of 12.6
Billion and #17 on Forbes "Top 500 Private Companies in America.")
Begin forwarded message:
> Subject: PhillyCarShare Announcement
> Date: August 9, 2011 8:43:13 AM EDT
>
>
> We have some exciting news to share with all PhillyCarShare members and
> community supporters.
>
> Enterprise Holdings has acquired PhillyCarShare, which not only will provide
> an influx of new vehicles and additional resources, but also enrich each
> member’s car-sharing experience. We see this as a unique opportunity to
> improve operational efficiencies, enhance financial stability and increase
> long-term customer satisfaction. A copy of the press release can be found
> here.
>
> Please keep in mind that all existing memberships and reservations will be
> transferred with no interruption of service. And both fuel and 24-hour
> roadside assistance will be part of your PhillyCarShare membership. In
> addition, the following enhancements and changes will be coming soon:
> • Newer cars
> • More rate options
> • More vehicles in more neighborhoods
> • Streamlined driver approval process
>
> To help celebrate this ground-breaking announcement, we are soliciting your
> suggestions for new and/or expanded pod locations. (Note that the hourly car
> share rate includes up to $300,000 in liability protection, and the driver’s
> responsibility for physical damage is $500.)
>
> We are proud that PhillyCarShare will be part of the Enterprise family and
> the company’s customer service legacy. We also are excited to be able to
> continue offering important and sustainable local transportation options in
> the Philadelphia area, regardless of whether the transaction is for an hour,
> a day or even longer.
>
> Thank you again for your loyalty and dedication to PhillyCarShare. Please
> don’t hesitate to let us know if you have any questions.
>
>
> Best regards,
> Gerald Furgione
> Executive Director
>
> PhillyCarShare
> 125 S 9th St Suite 1000 · Philadelphia, PA · 19107
> (215) 730-0988
> www.phillycarshare.org
William H. Magill
Block Captain
4400 Chestnut Street
mag...@mcgillsociety.org
whmag...@gmail.com
4428 Chestnut Street
Philadelphia, PA 19104-2914
(267-402-0529)
----
You are receiving this because you are subscribed to the
list named "UnivCity." To unsubscribe or for archive information, see
<http://www.purple.com/list.html>.
