Delaware
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1-13647
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73-1356520
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(State or other jurisdiction
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(Commission
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(I.R.S. Employer
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of incorporation)
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File Number)
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Identification No.)
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ITEM 7.01
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REGULATION FD DISCLOSURE
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ITEM 9.01
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FINANCIAL STATEMENTS AND EXHIBITS
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99.1
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News release of Dollar Thrifty Automotive Group, Inc. dated February 9, 2012: Dollar Thrifty Automotive Group Provides Update on Share Repurchase Program
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DOLLAR THRIFTY AUTOMOTIVE GROUP, INC.
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(Registrant)
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February 9, 2012
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By:
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/s/ H. CLIFFORD BUSTER III
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H. Clifford Buster III
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Senior Executive Vice President, Chief Financial
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Officer and Principal Financial Officer
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99.1
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News release of Dollar Thrifty Automotive Group, Inc. dated February 9, 2012: Dollar Thrifty Automotive Group Provides Update on Share Repurchase Program
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·
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the risks to our business and growth prospects as a stand-alone company, in light of our dependence on future growth of the economy as a whole to achieve meaningful revenue growth in the key airport and local markets we serve, high barriers to entry in the insurance replacement market, and capital and other constraints on expanding company-owned stores internationally;
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·
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the impact of the continuing volatility in the global financial and credit markets, and concerns about global economic prospects and the potential for a return of recessionary conditions that could materially adversely affect consumer discretionary spending, including for leisure travel on which we are substantially dependent;
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·
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the impact of pending and future U.S. governmental action to address budget deficits through reductions in spending and similar austerity measures, which could materially adversely affect unemployment rates and consumer spending levels;
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·
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the impact of developments outside the United States, such as the sovereign credit issues in certain countries in the European Union, which could affect the relative volatility of global credit markets generally, and the continuing significant political unrest in certain oil-producing countries, which has contributed to price volatility for petroleum products, and in recent periods higher average gasoline prices, which could affect both broader economic conditions and consumer spending levels;
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·
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the impact of pricing and other actions by competitors;
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·
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our ability to manage our fleet mix to match demand and meet our target for vehicle depreciation costs, particularly in light of the significant level of risk vehicles (i.e., those vehicles not acquired through a guaranteed residual value program) in our fleet and our exposure to the used vehicle market;
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·
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the cost and other terms of acquiring and disposing of automobiles and the impact of conditions in the used vehicle market on our vehicle cost, including the impact on vehicle depreciation costs in 2012 based on pricing volatility in the used vehicle market;
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·
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our ability to reduce our fleet capacity as and when projected by our plans;
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the strength of the ongoing recovery in the U.S. automotive industry, particularly in light of our dependence on vehicle supply from U.S. automotive manufacturers, and whether the recovery is sustained;
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airline travel patterns, including disruptions or reductions in air travel resulting from capacity reductions, pricing actions, severe weather conditions, industry consolidation or other events, particularly given our dependence on leisure travel;
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·
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access to reservation distribution channels, particularly as the role of the Internet increases in the marketing and sale of travel-related services;
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·
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the effectiveness of actions we take to maintain a low cost structure and to manage liquidity;
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the impact of repurchases of our common stock pursuant to our share repurchase program;
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·
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our ability to obtain cost-effective financing as needed without unduly restricting our operational flexibility;
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·
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our ability to comply with financial covenants, and the impact of those covenants on our operating and financial flexibility;
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whether our preliminary expectations about our federal income tax position, after giving effect to the impact of the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010, are affected by changes in our expected fleet size or operations or further legislative initiatives relating to taxes in the United States or elsewhere;
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·
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the cost of regulatory compliance, costs and other effects of potential future initiatives, including those directed at climate change and its effects, and the costs and outcome of pending litigation;
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disruptions in the operation or development of information and communication systems that we rely on, including those relating to methods of payment;
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local market conditions where we and our franchisees do business, including whether franchisees will continue to have access to capital as needed; and
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·
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the impact of other events that can disrupt consumer travel, such as natural and man-made catastrophes, pandemics, social unrest and actual and perceived threats or acts of terrorism.
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