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Dollar Thrifty Automotive rewards shareholders
Tulsa's Dollar Thrifty Automotive Group has provided a sweet ride to shareholders of the rental car company who bought stock during recent tough times.
/> Dollar Thrifty's 283 percent increase in earnings per share over a one-year period also topped all state-based public companies. Only a slight dip in revenue prevents Dollar Thrifty from taking Oklahoma Inc.'s overall top ranking. Shareholders in September rejected management's recommendation and refused a $1.46 billion offer from Hertz to acquire the company. That cheered many in Dollar Thrifty's hometown of Tulsa who feared a Hertz buyout could mean a loss of some or all of the company's 700 local jobs. Avis, which has offered $1.52 billion, remains a strong candidate to buy Dollar Thrifty. Avis operates Tulsa offices that employ 675 people. Thompson, even as he noted that the buyout bidding battle has been disruptive, boasted of the company's strong earnings. "The company once again has produced another record quarter and is on pace to make 2010 the most profitable year in the history of the company,” he said. "Clearly, we are pleased to report these financial results while still in a relatively flat economic environment,” Thompson said. "The employees of Dollar Thrifty have done a wonderful job focusing on our mission and avoiding distractions.”