- John D. Hertz
Infobox Person
image_size = 150px
name = John D. Hertz
caption = John Hertz, 1899
birth_date = birth date|1879|4|10
birth_place =Vrútky ,Slovakia
death_date = death date|1961|10|8
death_place =Chicago ,Illinois , U.S.
occupation = Businessman:
Taxis & rental cars
Racehorse owner/breeder
PhilanthropistJohn Daniel Hertz (
April 10 ,1879 -October 8 ,1961 ) was an Americanbusinessman , thoroughbred racehorse owner, andphilanthropist .Biography
Born Sandor Herz in the village of
Ruttka ,Kingdom of Hungary cite book | last = Sawyers | first = June Skinner | authorlink = June Skinner Sawyers | title = Chicago Portraits | publisher = Loyola University Press | date = 1991 | location = Chicago | pages = 120-121 | isbn = 0829407006] , part of theAustro-Hungarian Empire , today Slovakia, he emigrated to theUnited States when he was five.As a young man, Hertz was an amateur boxer, fighting under the name "Dan Donnelly." He won amateur championships at the Chicago Athletic Association and eventually began to box under his own name and became the manager for Benny Yanger.
Business career
Hertz's first job was selling newspapers, and eventually he became a reporter for the "Chicago Morning News". When the paper, then called the "Chicago Record" merged with another paper, he lost his job. Although he couldn't drive, in 1904 he found a job selling cars at the suggestion of a friend. Because of the number of trade-ins, he came up with the idea of creating a cab company with low prices so the common man could afford to ride in them. In 1907, he had a fleet of seven used cars that he used as cabs.
He founded the
Yellow Cab Company inChicago in 1915 as a way to provide transportation at a modest price. In the early 20th century, livery services were limited to the upper parts of society and Hertz thought there was huge potential for someone to provide lower cost services. His distinctive yellow cabs became popular and he quickly franchised the operation throughout theUnited States . In 1924, he expanded the notion of cheaper transportation by acquiring a rental car business, renaming it Hertz Drive-Ur-Self Corporation. Ultimately, both operations were sold to General Motors with Hertz being named to GM's board of directors.He married Fannie Kesner of Chicago with whom he had three children: Leona Jane, John Jr., and Helen. John Jr. became an advertising executive and was briefly married between 1942 and 1944 to
film starMyrna Loy .In 1933,
Robert Lehman sold Hertz a minority interest inLehman Brothers investment bank inNew York City and he remained a member of the firm until his death. In 1938 Hertz was prepared to buyEastern Air Lines from General Motors but the airline's General Manager,Eddie Rickenbacker , was able to raise the necessary financing to acquire Eastern before Hertz could exercise his option.Thoroughbred horse racing
In his early business years in Chicago, Hertz owned a farm near
Cary, Illinois . In the 1930s, he acquired a property inWoodland Hills, California in theSan Fernando Valley where he raised thoroughbred racehorses. He purchasedStoner Creek Stud nearParis, Kentucky for breeding and training and two of his horses,Reigh Count andCount Fleet , went on to win theKentucky Derby with Count Fleet winning theUnited States Triple Crown of Thoroughbred Racing .Citation | title = Golden opportunity | newspaper = Chicago Tribune Magazine | pages = 31 | year = 2007 | date = 2007-11-25]Philanthropy
During the
Cold War era, Hertz established the Fannie and John Hertz Foundation with the purpose of supporting military research. FriendEdward Teller urged Hertz to orient his foundation to fund education in theapplied sciences . The Hertz Foundation fellowship program is administered primarily by scientists atLawrence Livermore National Laboratory who are associated with the military'snuclear weapons andballistic missile defense programs. For his significant contribution to the security of the United States, in 1958 he received the highest civilian award given by the Department of Defense.In 1924, Hertz fronted the city of Chicago $34,000 to install the city's first traffic lights on Michigan Avenue.
Hertz died in 1961 and is interred with his wife in the
Rosehill Cemetery, Chicago .References
Wikimedia Foundation. 2010.