TheMan

Avis Budget Group has gone through some interesting changes. In their insurance department they switched claim systems ( iVOS to Abacus) which cost the company nearly 10 million dollars. The new system, Abacus has had its share of issues, from slow down time to database issues. For a system that costs 10 Mill, you would think you'd be getting a top of the line system.

Of course the development company, TIG, is a company that enjoyed the financial landscape of success but implemented a failing system (at least when compared to the older system iVOS).

The Auto Insurance group at Avis has not been meeting monthly goals and this is in large part due to the system they implemented as well as the economy.

Stock prices for Avis just recently went up because the CEO Ron Nelson announced job cutbacks going into the 4th quarter. Sounds like the company is trying to stay afloat but seems to be sinking.

citydude

I heard that Avis Budget Group closed down the insurance office in Orlando meaning a couple hundred people just lost jobs. They are moving the orlando office to Virginia Beach but will not pay the moving expenses. I wonder if there stock went up again after announcing more cutbacks?

Either way seems like they are sinking in this economy. I am sure it has a little to do with how bad Ford and GM are also doing.