Drew Dowdell

Fuel is included with Zipcars.

Zipcar is already placing cars in key areas that are between "city" and "suburb" including college campuses that are anything but urban.

I think for dense inner city's this will be a win for Zipcar users with more access to auto's and yet I do agree that they could go the way of Bland rental fleet. Yet outside of dense inner city use, zipcar and the other new start up that allows owners of cars to rent out to others will have limited traction. . .... well... yea... but over 50% of the country's population now lives in cities. That's a pretty good market base. I've been a member of Zipcar since they arrived in Pittsburgh when they bought Flexcar. I often have to hunt for vehicles because everything near me is taken. I've actually been considering closing my account with them for this specific reason. They are fleet constrained way before they are customer constrained.... but now it looks like they have a remedy to that.

I disagree on limited growth potential and on limited win for Avis. This lets Zipcar have easier (less expensive) access to more cars and it gives Avis an additional outlet for their cars coming out of rental rotation to make profit longer. My only fear is that it will make Zipcar's fleet much more generic. Right now, they have a wonderful diversity of cars.... I fear them turning into ZipNissanSentra.

There is still some tuning to be done as it is an entirely new server, but I'm not messing with it on sales release day.

January 2, 2013 By Drew Dowdell Managing Editor - CheersandGears.com Avis Budget Group and Zipcar, Inc. have announced an agreement where Avis Budget will aquire Zipcar for $12.25 a share or about $500 million total. Zipcar has about 760,000 members (including yours truly) across 20 metro markets in the U.S., Canada and Europe with locations at over 300 university campuses. Car sharing is now a $400 million per year business in the U.S. market alone. Avis Budget expects to gain $50 million to $70 million in savings by combining the two companies. Zipcar gains access to Avis Budget's fleet to supplement their own in times of high demand while Avis Budget gains an increased utilization of its fleet. From my own perspective, I believe this is a good move for both companies. As a frequent Zipster, I regularly run into times when no Zipcars are available for the time slot I need. Having more cars available as well as additional locations is a win for the Zipcar's customers. Press Release on Page 2 Drew Dowdell is Managing Editor of CheersandGears.com and can be reached at [email protected] or on Twitter as @cheersngears Avis Budget Group To Acquire Zipcar For $12.25 Per Share In Cash - Combined company will be the global leader in car sharing and mobility solutions. - Combination expected to produce $50-70 million in annual synergies. - Transaction targeted to close in spring 2013. - Avis Budget re-affirms its prior estimates of full-year 2012 results. Jan 2, 2013 PARSIPPANY, N.J. and CAMBRIDGE, Mass., Jan. 2, 2013 /PRNewswire/ -- Avis Budget Group, Inc. (NASDAQ: CAR) and Zipcar, Inc. (NASDAQ: ZIP), the world's leading car sharing network, today announced that Avis Budget Group has agreed to acquire Zipcar for $12.25 per share in cash, a 49% premium over the closing price on December 31, 2012, representing a total transaction value of approximately $500 million. The transaction is subject to approval by Zipcar shareholders and other customary closing conditions, and is expected to be completed in the spring of 2013. The Boards of Directors of both companies unanimously approved the transaction, and Zipcar shareholders representing approximately 32% of the outstanding common stock have agreed to vote their shares in support of the transaction. Car sharing has grown to be a nearly $400 million business in the United States and is expanding rapidly in major cities around the world. Zipcar has led this industry, leading in innovation and world-class service. Zipcar now has more than 760,000 members, known as Zipsters, with a market-leading presence in 20 major metropolitan areas in the United States, Canada and Europe, and fleet positioned at over 300 college and university campuses. Zipcar has combined leading-edge technology, an outstanding customer experience, and clear brand messaging to develop strong loyalty and advocacy among its customers. "By combining with Zipcar, we will significantly increase our growth potential, both in the United States and internationally, and will position our Company to better serve a greater variety of consumer and commercial transportation needs," said Ronald L. Nelson, Avis Budget Group chairman and chief executive officer. "We see car sharing as highly complementary to traditional car rental, with rapid growth potential and representing a scalable opportunity for us as a combined company. We expect to apply Avis Budget's experience and efficiencies of fleet management with Zipcar's proven, customer-friendly technology to accelerate the growth of the Zipcar brand and to provide more options for Zipsters in more places. We also expect to leverage Zipcar's technology to expand mobility solutions under the Avis and Budget brands." Avis Budget expects to generate $50 to $70 million in annual synergies as a result of the transaction. In particular, Avis Budget expects significant cost reductions across the fleet life cycle (from procurement to operations and maintenance to disposition, as well as financing), in addition to savings from eliminating Zipcar's public-company costs. Avis Budget also plans to achieve substantial cost savings by increasing fleet utilization across the two companies. Significant revenue growth opportunities exist, including by leveraging Avis Budget's fleet to meet more of Zipsters' weekend demand, which is currently constrained by fleet availability. These synergies, combined with the expected growth and rising profitability of Zipcar, are expected to make the transaction accretive to Avis Budget's earnings per share in the second year following the acquisition, excluding certain items and purchase-accounting effects. "We are delighted to announce our intention to join the Avis Budget Group family of companies, and we believe this combination is a win across the board for our members, shareholders and employees. We will be well positioned to accelerate enhancements to the Zipcar member experience with more offers and additional services as well as an expanded network of locations," said Scott Griffith, chairman and chief executive officer of Zipcar. "As the leading global provider of car sharing services, with a brand that is synonymous with the category, we remain committed to the values and vision that have driven us forward for many years, grounded by our passion for delivering a superior experience to every member for every trip, every day. By combining Zipcar's expertise in on-demand mobility with Avis Budget Group's expertise in global fleet operations and vast global network, we will be able to accelerate the revolution we began in personal mobility." "Avis Budget's existing infrastructure, scale and experience with managing multiple brands make us uniquely positioned to accelerate the growth and profitability of Zipcar," Mr. Nelson added. "At the same time, we are committed to retaining the elements of the Zipcar brand and culture that have allowed Zipcar to achieve such rapid growth and success over the last twelve years." Following the acquisition, Zipcar will operate as a subsidiary of Avis Budget Group and will continue with its planned move to new headquarters in Boston, Massachusetts. Avis Budget anticipates that key members of the Zipcar management team, including Mr. Griffith and Mark Norman, president and chief operating officer, will continue to set the overall direction and run day-to-day operations of Zipcar. Avis Budget Group expects to fund the purchase price primarily with incremental corporate debt borrowings, as well as available cash. As of September 30, 2012, Avis Budget Group had cash and marketable securities of approximately $554 million, and Zipcar had cash and marketable securities of approximately $82 million, or approximately $2 per Zipcar share. Citigroup is acting as financial advisor, and Kirkland & Ellis LLP is acting as legal counsel, to Avis Budget Group. Morgan Stanley is acting as financial advisor, and Latham & Watkins LLP is acting as legal counsel, to Zipcar. View full article

I wonder what they use in other countries....

Feel the speed of SSD RAID! Further software upgrades will continue this weekend.

As of yet, there are no AFM Turbos. There has been no DI-turbo DOHC V6, nor Twin-Turbo. In short the "why not?" is because they haven't been released yet for us to see. If you go by what GM can do with the 2.0T, a 3.6 Twin Turbo with direct injection could see well over 400 horsepower. Just a straight shot of multiplying the HP/Liter out (I know this isn't a true thing) gives you up to 531hp. GM was doing 300hp Turbo V6es without the benefit of DOHC, Direct Injection, or Variable Valve timing 30 years ago.... imagine what they can do today. The Ford Ecoboosts have a lot of meat left on the table.

Camino, can you explain why you feel the advances in the Turbo 4-cylinders won't carry over to the V6es eventually?

Ecoboosts do better than EPA under "ideal conditions"

I think it has to go up.

I'm not talking about Turbo-4 v. N/A V6... that's a big duh. And as such, I question why you think the same theory doesn't apply to Turbo-V6 v. N/A V8. Ford F-150 4x4: Ecoboost V6 - 16 City / 21 Highway 5.0 V8 - 14 City / 19 Highway

and as I've pointed out... you are wrong about the fuel economy.

If it could deliver the fuel economy with the power - so far TTV6s haven't shown the capacity to do that. One or two miles per gallon isn't a significant enough advantage to make this a viable idea. The Ecoboost V6 does pretty well in the F-150 when you keep your foot out of the boost. Heck, I got 27mpg out of an AWD MKS Ecoboost. The naturally aspirated model does no better on fuel economy and had a lot less power on tap when needed. When the LSx V8s can best that, it doesn't look too impressive. The LSx V8s are in full size AWD sedans? Did I miss a press release?

If it could deliver the fuel economy with the power - so far TTV6s haven't shown the capacity to do that. One or two miles per gallon isn't a significant enough advantage to make this a viable idea. The Ecoboost V6 does pretty well in the F-150 when you keep your foot out of the boost. Heck, I got 27mpg out of an AWD MKS Ecoboost. The naturally aspirated model does no better on fuel economy and had a lot less power on tap when needed.

I have changed the server file upload limit to 3mb.

I think you need to find a Sonic or Cruze with a manual and turbo and learn on that. They are just about the easiest manuals to drive that I have ever driven.

Just have to resize the picture below 2mb.

Mine

At least BMW doesn't promise differentiation...

What is the destination city?

Wasn't a big fan of the tagline. I like "American Revolution" and "Heartbeat of America" better.

We've been very happy with both of the Ideapads in this house. Albert's Y510 is 4.5 years old and just starting to show signs of age (hinges are lose and can't be tightened up any more) and my 3 year old U350, which has been all over the world with me, will be making its 4th round of auto shows over the next few months. Nary a reliability issue with either.