Tilden Rent-a-Car , later known as Tilden InterRent , is a Canadian car rental company founded by Sam Tilden. His fleet was sold by the Tilden family to the US National Car Rental in June 1996.
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History
Origin
In 1925, Sam Tilden (1897-1973), a shoe seller in Montreal, purchased the Hertz Rent-a-Car franchise for Montreal after reading the ad on Saturday Evening Post . Tilden started business with three Chrysler cars and a loan from his father. In 1929, Hertz took the franchise back from Tilden, believing that it could make more money through direct ownership. In 1932, Tilden won a franchise from Hertz.
1950s
In 1950, Sam Tilden had three Hertz franchises: Montreal, Ottawa and Hamilton, Ontario, and his son, Walter Tilden (1928-2008), managing the Ottawa franchise. Through the 1950s, Tilden Rent-a-Car expanded rapidly, taking advantage of its independence from car manufacturers. The Victoria, British Columbia franchise is managed by the youngest son of Sam, Ted Tilden (1931-1991).
The franchise agreement with Hertz allowed American companies to take back the franchise at 60 days notice, and the headquarters insisted that a copy of American advertising be used in Canada, although the Canadian franchise wanted to use a more appropriate copy for Canada. In 1953, Sam Tilden and several other franchises, objected to these policies, left Hertz and established the Tilden Rent-a-Car System. In 1954, there were 100 Tilden locations across Canada.
1960s
In the 1960s, recognizing opportunities for cross promotion, Tilden formed a partnership with the National Car Rental in the United States. Tilden and National established a joint venture, 50% owned by each company, in Europe under the name Europcar. Tilden then entered into a joint venture similar to Nippon Rent-a-Car Japan to establish rental agencies in Asia.
In the mid-1960s, the Tilden Rent-a-Car System had 2,000 owned vehicles and 2,500 vehicles owned by independent Canadian franchise operators.
1970s
Sam Tilden died of a heart attack in 1973, and the company's leadership was taken over by his son, Walter and Ted. In 1974, the company headquarters moved from Montreal to Toronto.
Tanker accidents, lawsuits and sales
On March 6, 1991, Ted Tilden, who owns 50% of the company, died of a heart attack. Two months later, a Tilden car was involved in an accident in the Bronx, New York City, with a gas tank truck that resulted in a dozen shops burning and exploding in parked cars nearby. This accident plays an important role in the final sale of Tilden Rent-a-Car to the National.
In 1992, the company's name was changed to Tilden InterRent to emphasize its relationship with National and Europcar, and the national green scheme replaced the red, blue and green scheme Tilden used.
The Bronx accident caused dozens of claims against the company including a lawsuit for wrongful death. Companies that own gas tankers do not have adequate insurance, and plaintiffs ask for compensation from Tilden.
In June 1995, shortly after his appearance in a wide range of industry and industry interview features on Montreal CF CF <9> World Travel public television show, Walter Tilden started negotiations to sell the company. In July 1995, Tilden's car rental operations were sold to Newcourt Credit Group.
In February 1996, Walter Tilden retired as president and chief executive officer, and was succeeded by his nephew Patricia Tilden. Tilden InterRent sought refuge under the Company's Creditor Arrangement in April 1996 to protect it from 17 lawsuits it faced from a Bronx accident. The lawsuits have been consolidated into one lawsuit, causing the company bankers to become nervous.
In June 1996, a US judge ruled that Tilden could be held responsible, and within a week, the Tilden fleet had been sold to the National for $ 115 million. National agreed to take 95% of Tilden staff, and operate in Canada as "National Tilden". Although many locations continue to use the name Tilden Nasional, the name of the parent company is changed to "National" soon after.
The lawsuit arising from the Bronx accident that caused Tilden's death as an independent Canadian company was later dismissed.
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References
Martin, Sandra, "He helped build Tilden Rent-a-Car into a thriving, all-Canadian concern," Walter Tilden obituary, Toronto Globe and Mail, 30th edition of Toronto, 30 July 2008, p. s8.Source of the article : Wikipedia
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