Hertz Global Holdings reported an adjusted fourth-quarter loss of $73 million

Excluding one-time items, versus an adjusted net profit of $94 million a year earlier. Including a large impairment charge, the quarterly net loss exceeded $1.2 billion. "Hertz experienced unprecedented volume, pricing and residual value contraction across all of its businesses in the fourth quarter of 2008," according to CEO Mark Frissora. Worldwide car rental revenues roughly were flat for full-year 2008, but declined 15 percent in the fourth quarter versus the same period in 2007. In the domestic U.S. market, forth-quarter transactions declined 14 percent and rental rate per transaction day dropped 5 percent. Hertz provided no future revenue or earnings guidance "due to continued volatility in car and equipment rental markets."