The SEC Had “Comments” for Hertz 

Comment number one, this is awfully close to securities fraud.

It appears Hertz’s rather preposterous plan to sell half a billion dollars in almost certainly worthless stock has hit a snag. The Securities and Exchange Commission has “comments” on the plan:

“In this particular situation we have let the company know that we have comments on their disclosure,” SEC Chairman Jay Clayton said Wednesday on CNBC’s “Squawk on the Street.” “In most cases when you let a company know that the SEC has comments on their disclosure they do not go forward until those comments are resolved.”

I find this usage of the word “comments” very odd. Why not say “concerns”, or “issues”? Regardless, it looks like Hertz is abandoning their plan. Some small measure of sanity has prevailed in this crazy world.