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Yesterday, Hertz Global Holdings, Inc. (Nasdaq: HTZ) became one of the best-performing automotive-related stocks of the year after the car rental companys stock surged more than 56% in a single trading session. Today, the stock is up again by a double-digit percentage in premarket trading at the time of this writing. But why? Heres what you need to know. HTZ shares surged 56.44% yesterday Yesterday, Hertz had one of its best single-gain days in a long time. The companys stock price surged 56.44% in a single session after it was revealed that billionaire investor Bill Ackmans hedge fund, Pershing Square Capital Management, took a sizable stake in the rental car company. As the Wall Street Journal reported, Pershing Square Capital Management announced in a Securities and Exchange Commission (SEC) filing on Wednesday that it had acquired 12.7 million HTZ shares, representing about 4.1% of the companys total stock. Once the news went public, HTZ shares surged, rising by a total of $2.06 for the day to end at $5.71a rise of 56.44%. Pershing Square Capital Management often takes activist positions in companies whose stock they purchase. The hedge funds foray into HTZ shares seems to be signaling to some investors that Ackmans firm may attempt to influence the direction of Hertzwhich some obviously see as a good sign considering the that challenges the car rental company has faced in recent years. Fast Company reached out to Pershing Square and Hertz for comment and will update this post if we hear back. Hertz woes As noted by the Wall Street Journal, Hertz was one of the original meme stocks to emerge around the time of the pandemic. The company filed for bankruptcy after the pandemic hitunderstandable considering that travel was screeching to a halt, which meant that both consumers and business people had less need to rent a car. In 2021, amidst its recovery push, Hertz staged an uplist initial public offeringmoving from an over-the-counter (OTC) market to the Nasdaq Global Select Market. Around the same time, Hertz decided to go all-in on the electric vehicle boom sweeping the nation, and it placed an order for 100,000 Teslas in an attempt to remake its image from that of a gas-guzzling car rental company to a modern, environmentally friendly tech-adjacent one. Unfortunately for Hertz, renters didnt take as well to the idea of EVs as the company had anticipated. One of the big drawbacks in renters’ minds was the uncertainty of whether they could find a charging station along their route. This led to fears that they may run out of power while heading to their destination. By 2024, Hetz was actively selling its fleet of electric vehicles, taking a depreciation hit on each car sold. Hertzs failed EV gamble led to the companys stock being downgraded shortly after. However, earlier this year, Hertz got an unexpected boost from what many would consider an unlikely sourcePresident Donald Trumps tariffs. In late March, the companys stock price surged 20% in a single day. The reasoning behind this surge was that if car prices were about to jump due to Trumps tariffs, the rental cars Hertz sells after use would likely become more appealing to buyers, who may now be seeking out used cars to purchase instead of new ones. But 2025 hasnt been all smooth sailing for Hertz either. Just a day before Pershing Square Capital Management announced its stake in Hertz, the car rental company announced that hackers may have stolen some of its customers’ social security numbers and credit card details. Still, investors have now seemed to have happily shrugged off that latest bit of bad news after learning Bill Ackmans hedge fund has taken a large stake in the company. HTZ shares up again in premarket today As of the time of this writing, HTZ shares are up another 10% in premarket trading this morninga healthy gain in addition to the companys massive surge yesterday. Currently, shares are sitting around $6.31 each. Year-to-date, HTZ shares have climbed 56% since yesterdays close. However, despite their recent surge, Hertz stock has been hammered pretty badly over the past several years. As of yesterdays close, Hertz stock was still down 13% over the past 12 months. And over the past five years, the companys stock price has fallen by over 74%, based on yesterdays close.
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E-Commerce
A federal judge says some nonprofits awarded billions for a so-called green bank to finance clean energy and climate-friendly projects cannot have their contracts scrapped and must have access to some of the frozen money. The ruling is a defeat for President Donald Trump’s Environmental Protection Agency, which argues the program is rife with financial mismanagement.The order late Tuesday by U.S. District Judge Tanya Chutkan “gives us a chance to breathe after the EPA unlawfully and without due process terminated our awards and blocked access to funds that were appropriated by Congress and legally obligated,” said Climate United CEO Beth Bafford.The lawsuit by Climate United Fund and other groups contends that the EPA, Administrator Lee Zeldin and Citibank, which held the grant money, illegally blocked the funds awarded last year and had jeopardized the organizations’ operations.Chutkan said Citibank must provide the money that was due to the nonprofits before the EPA had frozen their accounts in mid-February. The EPA immediately appealed.The Greenhouse Gas Reduction Fund, commonly referred to as a “green bank,” was authorized by the 2022 Inflation Reduction Act under Democratic President Joe Biden. Its goals run counter to the Trump administration’s opposition to climate-friendly policies and its embrace of fossil fuels. Zeldin quickly made the bank a target, characterizing the $20 billion in grants as a “gold bar” scheme marred by conflicts of interest and potential fraud.A federal prosecutor resigned after being asked to open a criminal investigation, saying there was not enough evidence to move ahead. The FBI and Treasury Department, in coordination with the EPA, pressured Citibank to freeze the grants, which it did, according to the nonprofits.Last month, Zeldin announced the termination of the grants, saying “well documented incidents of misconduct, conflicts of interest, and potential fraud raise significant concerns and pose unacceptable risk.”Chutkan paused that move, saying the government provided no significant evidence of wrongdoing. But the Republican administration, in a recent filing, asserted it was allowed to end the contracts based on oversight concerns and shifting priorities.“EPA’s new admission that it ‘did not terminate for Plaintiffs’ noncompliance’ confirms that EPA’s invocation of ‘waste, fraud, and abuse’ was arbitrary and pretextual” the nonprofits said in a court filing.Molly Vaseliou, the EPA’s associate administrator for public affairs, contended that the court lacked the power to reinstate the money. She did not provide any new evidence and repeated unsubstantiated allegations of program abuse and conflicts of interest.“We couldn’t be more confident in the merits of our appeal,” she said in a statement.The government has told the court the case is “just a run-of-the-mill (albeit large) contract dispute.”That argument is important because it could move the case to a different court that can only award a lump sum and not force the government to keep the grants in place. The Associated Press receives support from the Walton Family Foundation for coverage of water and environmental policy. The AP is solely responsible for all content. For all of AP’s environmental coverage, visit https://apnews.com/hub/climate-and-environment Michael Phillis, Associated Press
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E-Commerce
The skies over New York City may soon get even more crowded as electric air taxi company Archer Aviation is planning to launch a network that connects the citys major and regional airports with vertiports in Manhattan. The company, which is teaming up with United Airlines for the effort, announced the plans on Thursday. It hopes to connect Manhattan with six airports in the areaLaGuardia, JFK, Newark, and regional airports, Republic, Teterboro, and Westchesterwith flights as short as five minutes. Archer’s Midnight aircraft could save passengers hours when trying to get between those airports or the three vertiports in Manhattan, according to the company. And the partnership with United Airlines would allow travelers to book those flights as a sort of add-on to their traditional inbound or outbound flight from one of the participating airports. For example, if you live in Manhattan and are booking a United flight out of JFK, you can book a flight from the Downtown Skyport to JFK as part of the booking process. [Image: Archer Aviation] The New York City air taxi network is the third such network in the U.S. that Archer has announced so far, with the other two being in Los Angeles and San Francisco. Archer Aviation CCO Nikhil Goel says that the company is currently working out the final details of getting those networks online with the Federal Aviation Administration (FAA). There arent too many steps left, Goel says, adding that Midnight air taxis could be flying people around New York, Los Angeles, and the Bay Area as soon as next year. Looking up If and when regulatory all the regulatory hurdles will be cleared is anyone’s guess, but should that day come, Archer may not be the only player soaring above the Big Apple. Its competitor Joby Aviation is also planning to launch service in New York City, even showing off its aircraft at an event in Grand Central Terminal late last year. Theres also the potential that the networks could expand. Well start with nine nodes in the New York area, Goel says. Thats the three vertiports in Manhattan, the three major airports, and the three regionalsthat covers a very large percentage of the people who live and work in the metropolitan area. When Archer gets a better sense of where more demand for its flights lies, it could expand to other nodes in the area, and the same goes for other cities, too. As for pricing, Goel says that the goal is to get to a place where air taxi flights are priced similarly to an Uber ride. For now, the goal is to open and speed up transit options, according to Adam Goldstein, Archers founder and CEO. “[The] drive from Manhattan to any of these airports can be painful, taking one, sometimes two hours,” Goldstein said in a statement. “We want to change that by giving residents and visitors the option to complete trips in mere minutes.”
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E-Commerce
I founded my company nearly two decades ago. As a bootstrapper, it was initially just me, but soon enough we grew to a dozen people, then a few dozen, then a hundred, and so on. In the early days, I remember feeling confident in my hard skills, like product development and growth strategy. But soft skills were uncharted territory. So I did what you do: practiced the tough conversations and speeches in front of the mirror. It helpedpreparation is half the battlebut sometimes I imagine how much faster my leadership skills would have developed if I had real-time feedback. Thats one of the features of AI-powered leadership platforms. For todays businesses, leadership training is more important than ever. Cornell Tech lecturer Keith Cowing recently noted that simply completing tasks will hold less value in an AI-driven future, while judgment and leadership will become increasingly critical. He added that those with strong judgment will be significantly more rewarded than those who rely solely on task execution. Its no wonder that tech giants and startups alike are tossing their hats into this burgeoning AI industry, from LinkedIn Learnings AI-powered coaching to newer arrivals like CodeSignal and Tenor. As CEO of Jotform, Im leveraging these training tools myself, but Im even more excited to see how they will help executives and employees at all levels to advance in their careers. Heres a closer look at the power of AI-powered leadership training. A more effective way to develop essential skills For enterprises across the globe, soft skills are more important than ever. According to the World Economic Forums The Future of Jobs Report 2025, leadership and social influence are among the top three core skills required by employers, highlighting the rising importance of human-centric abilities in the rapidly evolving job market. While out-of-the-box training solutions often fall short (and can be less than stimulating), AI-powered leadership training offers tailored, hands-on learning experiences. You can work on the skills and address the challenges unique to your position and organization. CodeSignals AI-powered Conversation Simulation solution, for example, leverages generative AI and voice models to create realistic conversational partners. Users engage in dynamic conversations with AI partners and simulate potential situations. They can practice invaluable skills like delivering feedback, active listening, and conflict resolution. Its the next best thing to real-world practice. While the AI-powered leadership development platform Tenor offers training in common scenarios, users can also work with the company to develop organization-specific situations and incorporate their companys distinctive leadership philosophies. Traditional leadership training modules often feel more like staged performances than genuine learning experiences. Imagine standing in front of your peers, tasked with role-playing a difficult conversation. For some, its an engaging exercise. For others, its an exercise in self-consciousness. (Like that time I had the brilliant idea of enrolling in an improv comedy classnot my most comfortable experience.) The beauty of AI-powered leadership training is that it removes this pressure. Instead of performing for an audience, youre practicing with an AI partnerfree from judgment, free to focus on developing real skills. At Jotform, we take an automation-first approach: If a process can be automated, we do it. If a solution scales, even better. AI-powered leadership training embodies both principles. Its accessible to employees at every levelfrom top executives and middle managers to ambitious entry-level employees. And because its scalable, as your company grows, more employees can tap into these resources, building a steady pipeline of future leaders. Best of all, AI-driven programs are often more cost-effective than traditional leadership workshops, making high-quality training available without breaking the bank. AI is transforming leadership training by making it more adaptive, personalized, and scalable. These platforms dont just offer cookie-cutter lessons. They analyze individual strengths and weaknesses, consider your companys unique circumstances, and provide tailored simulations and real-time feedback. Todays most successful leaders arent just keeping up with the latest AI advancementstheyre using it to boost their decision-making, innovation, and learning. By combining AI-driven tools and traditional training methods, companies can develop stronger, more prepared leaders who are ready to navigate as fast-changing business landscape.
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E-Commerce
More than 60,000 federal workers were dismissed during the first two months of the Trump administration with more staff reductions expected in the coming months. Many are mid-career employees who have worked for the government for a decade or more, making it more challenging for them to make the case that their skills are transferrable to the private sector. Its an identity shift, says Arianny Mercedes, founder of Revamped, a New York City-based career consultancy. For many of these professionals, their roles werent just jobs; they were commitments to public service, she says. When someones identity is deeply tied to government service, being laid off or pivoting into a new industry can feel like losing a part of themselves, she adds. However, experts agree that mid-career, federal employees who suddenly find themselves looking for new roles have much to offer the private sector, including institutional knowledge and emotional maturity. Here are five ways they can position themselves for private sector jobs. Related: 3 tips for federal workers who are scrambling to find new jobs Translate the jargon Many federal employees have robust leadership, policy, operations, and compliance experience, but most need help translating what they do into private sector language, says Carol Kaemmerer, president and principal at Kaemmerer Group LLC, an executive branding and coaching firm in Minneapolis. Federal employees have valuable skills, but they are often hidden behind their bureaucratic titles and government jargon, Mercedes says. For instance, federal employees with titles like procurement officer, program manager and policy analyst possess valuable skills like critical thinking, risk mitigation and stakeholder navigation. When writing a resumé, its essential to replace bureaucratic jargon with business-friendly terms. For instance, talk about your experience with strategic operations instead of policy execution, or refer to your cross-functional leadership or instead of inter-agency collaboration, says Caroline Geraghty, a client account manager at 110 North, The Creative Agency in Charlotte, N.C. Business-friendly terms will help hiring managers and recruiter connect the dots between your experience and their hiring needs, she says. Leverage your unique skill set Spend some time identifying the types of problems youre highly skilled at solving and then research which private sector company roles seek to solve the same types of problems, says Becca Carnahan, founder of Next Chapter Career, LLC in Boston. For example, if in your federal job, you created processes to improve efficiency then you might want to look at operation manager roles. If you were known for building unexpected partnerships, then perhaps look at business development roles. Identify and then leverage your unique skill set, Kaemmerer says. As a former federal employee, your superpower might be helping companies to navigate federal regulations and government relations, she says. Clarify the one thing you do better than 95% of peopleand articulate how that fills a pressing need in the team or project youre targeting, says Sylvana Rochet, an executive and transition coach at Elan Vital. For instance, federal employees often excel at building consensus among stakeholders with conflicting agendas. That mix of diplomacy and influence is highly valued by the private sector, she says. Focus on outcomes Rather than listing job duties and tasks on your resumé, emphasize the outcomes you achieved at your federal agency. Private employers dont understand the skill-coding system that is pervasive in the federal workforce, but they do understand outcomes, says Jason Leverant, president and COO of staffing firm AtWork Group. State your key accomplishments in plain language and highlight the impact those achievements had on your organizations success, he says. For instance, instead of saying you updated 70 Standard Operating Procedures, explain how you helped to improve operational efficiency or saved the agency time and money. Many mid-career federal employees manage multi-million-dollar budgets, lead teams and navigate complex compliance issues. All of these skills are highly transferable when framed properly, says Tristan Layfield, principal career coach at Career Clarity Solutions in Detroit. Talk about the size of your team, the dollar value of your budget and the number of strategic partners you worked with, he says. Become a better storyteller In the private sector, storytelling is strategic currency, Mercedes says. Practice telling hiring managers your story by creating narratives around your impact and adaptability, she advises. Private sector hiring managers often assume federal candidates cant keep up in faster-paced environments, when the reality is most government professionals have been doing more with less for years but they havent had to tell that story, according to Mercedes. Layfield agrees that one of the biggest challenges facing federal workers is combating the perception that they are too siloed or inflexible. Position yourself as an adaptable, data-driven problem solvers with a unique understanding of policy and systems thinking, he says. Leverage your professional networks Networking is essential when seeking private-sector jobs. About 70% of jobs are found through social and professional networks, so its important to engage with industry groups, be active on LinkedIn, and attend networking events. Connect with former government colleagues who may have already transitioned into the private sector to ask for guidance and referrals, Geraghty suggests. With the right guidance and strategic positioning, federal professionals can make powerful transitions, Kaemmerer says.
Category:
E-Commerce
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