Hertz emerged last year from bankruptcy as a leaner company with a new outlook on corporate sales. It used reorganization to get out of what it deemed unfavorable corporate deals and now, according to interim CEO Mark Fields, "We do not chase unprofitable business." That's easier to justify when there is tight supply relative to demand. The car rental giant still plays heavily in the corporate market, where a new preferred agreement with American Express Global Business Travel is bearing fruit.
During a quarterly earnings conference call Wednesday, Fields said, "Our partnership with Amex is extremely . . .