Avis

Strategic Concepts & Mechanics

Strategic PatternProfitable Service Over Growth for Growth

Operating PrincipleIncorporating Problem Causers Into Solutions

Capital StrategyMoral Obligation Bond Innovation

Strategic PatternBear Hug Takeover Strategy

Signature MoveRelationship Banking Over Transaction Focus

Signature MoveGovernment Partnership During Business Crisis

Signature MoveTheater in High-Stakes Negotiations

Decision FrameworkSquare Pegs Into Round Holes

Signature MoveCrisis Action Before Complete Data

Primary Evidence

"help him. I advised him as ITT swooped in and, one after another, bought Canteen, Grinnell, Avis, Rayonnier, Levitt and Sons, Continental Baking, Scotts Seed, Pennsylvania Glass, and Airport Parking."

Source:Dealings

"Meanwhile, our ninety-day option was rapidly drawing to a close. Purchasing control of the company would cost us about $5 million. Petrie insisted that another $5 million would be needed to improve Avis’s deteriorating fleet of vehicles. Forty years ago $10 million was not an inconsiderable sum, particularly for a small investment bank with a stated capital of only $17 million. No less daunting, Avis had lost $1.2 million in 1961. Nevertheless, now that we had a management team ready to assume control—a team we had confidence in—we moved forward. Lazard exercised its option to acquire the Dumaine family stock."

Source:Dealings

Appears In Volumes

Dealings