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Transportation

ARI acquires HPI fleet

Financial terms were not disclosed. According to the announcement, the transaction is expected to close in October, at which time HPI Fleet will operate as ARI. ARI will manage its continental European operations from its offices in Stuttgart and Frankfurt, Germany, and its UK operations from Chippenham, England. More fleet news >

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How the federal government shutdown will affect your business

The consequences of Washington’s inaction have already resonated across the country, and New Jersey is no exception.Here’s a quick guide to what may or may not be affected today by the shutdown.Q: Will federal Sandy relief projects continue?A: Ed Voigt, a spokesman for the U.S. Army Corps of Engineers’ Philadelphia office, said there will be ...

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Hertz names interim CFO

Park Ridge-based Hertz Global Holdings announced Monday that Elyse Douglas, its executive vice president for finance and chief financial officer, will step down, effective Oct. 1. Douglas will remain with the company until December to assist with the transition.

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Avis completes 550M asset-backed notes offering

Avis Budget Group, of Parsippany, announced Wednesday its Avis Budget Rental Car Funding LLC subsidiary has completed an offering of $550 million of five-year, fixed-rate asset-backed notes with a weighted average interest rate of approximately 3.08 percent. The proceeds of the offering are expected to be used primarily to refinance vehicle debt...

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