Friday, May 29, 2015

PhillyCarShare in merger talks

Enterprise Rent-A-Car of St. Louis could buy the Philly-based nonprofit

PhillyCarShare in merger talks

Enterprise Rent-A-Car officials have been talking to nonprofit PhillyCarShare about a possible combination, people familiar with the talks told me.

Enterprise spokeswoman Laura T. Bryant and PhillyCarShare executive director Gerald Furgione declined to comment today on the status of discussions. 

Car share is a digitally-enabled, decentralized form of car rental that avoids using fixed offices, stationing cars in rented parking lots. It's marketed to city people who don't need to use a car every day, and employers who don't like the hassle of managing company car fleets.

Some of car share's leading players, including publicly-traded, for-profit Zipcar, whose local operation competes with PhillyCarShare, began as non-profits, but went to for-profit status when investors offered cash, hoping to cash in on the services' rapid growth, helped for-profit services buy more attractive cars and spend more on marketing.

Enterprise, like other for-profit car rental services, is trying to build its own car-sharing program, WeCar. The company is based in St. Louis.

About this blog

PhillyDeals posts drafts, transcripts and updates of Joseph N. DiStefano's columns and stories about Philly-area business, which he's been writing since 1989.

DiStefano studied economics, history and a little engineering at Penn and taught writing at St. Joseph's. He has written thousands of columns and articles for the Inquirer, Bloomberg and other media, wrote the book Comcasted, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com, distefano251@gmail.com, 215.854.5194 or 302.652.2004.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano