Penske Financial Analysis
Introduction
To start my introduction I would like to begin with the mission statement of Penske. "Unique in its heritage and formidable in its national and international scope, Penske Corporation is a closely held transportation services company that encompasses retail automotive sales and services, truck leasing, supply chain logistics management, transportation components manufacturing, and high-performance racing,"(Penske.com). In my evaluation of Penske I 've gained a lot of new information and facts that I will now share with you. In the end I will give you my alternatives and recommendations in which I think will help Penske Corporation in the long run.
History
Roger Penske was born on February 20, 1937 in a small town in Ohio. He has five children and is marred to his wife Kathy. In 1958 Roger began to pursue racing, selling and purchasing automobiles and had great success at it. "By 1960 he was named Sports illustrated race car driver of the year, winning prestigious races until 1965 when he retired as a driver, to concentrate on owning and running a successful race car team,"(Wikipedia.org). Little did Roger know that in the next 37 years of racing he would have created a juggernaut in racing having over "260 major race wins, including 14 Indianapolis 500 wins, over 200 pole positions and 18 national championships,"(Penske.com).
Penske Corporation is the parent company of four business groups, the first being Penske Transportation. In 1982 Penske Truck Leasing merged with Hertz Rental Company to form Hertz Penske Truck Leasing. By 1988 Penske bought out Hertz share and formed Penske Truck Leasing. With its ' headquarters in Reading Pennsylvania, Penske Truck Leasing is a joint venture of Penske Corporation and General Electric. "A global transportation service Penske operates over 216,000 vehicles and serves customers from over 1,000 locations in North America, South America, Europe, and Asia,"(Wikipedia). A service that Penske Truck Leasing
To start my introduction I would like to begin with the mission statement of Penske. "Unique in its heritage and formidable in its national and international scope, Penske Corporation is a closely held transportation services company that encompasses retail automotive sales and services, truck leasing, supply chain logistics management, transportation components manufacturing, and high-performance racing,"(Penske.com). In my evaluation of Penske I 've gained a lot of new information and facts that I will now share with you. In the end I will give you my alternatives and recommendations in which I think will help Penske Corporation in the long run.
History
Roger Penske was born on February 20, 1937 in a small town in Ohio. He has five children and is marred to his wife Kathy. In 1958 Roger began to pursue racing, selling and purchasing automobiles and had great success at it. "By 1960 he was named Sports illustrated race car driver of the year, winning prestigious races until 1965 when he retired as a driver, to concentrate on owning and running a successful race car team,"(Wikipedia.org). Little did Roger know that in the next 37 years of racing he would have created a juggernaut in racing having over "260 major race wins, including 14 Indianapolis 500 wins, over 200 pole positions and 18 national championships,"(Penske.com).
Penske Corporation is the parent company of four business groups, the first being Penske Transportation. In 1982 Penske Truck Leasing merged with Hertz Rental Company to form Hertz Penske Truck Leasing. By 1988 Penske bought out Hertz share and formed Penske Truck Leasing. With its ' headquarters in Reading Pennsylvania, Penske Truck Leasing is a joint venture of Penske Corporation and General Electric. "A global transportation service Penske operates over 216,000 vehicles and serves customers from over 1,000 locations in North America, South America, Europe, and Asia,"(Wikipedia). A service that Penske Truck Leasing
Cited: "Mission," June 4, 2006. Penske Corp. http://www.Penske.com/ "Racing Highlights," June 4, 2006 http://en.wikipedia.org/wiki/Roger_Penske "Racing Wins," June 4, 2006 http://en.wikipedia.org/wiki/Roger_Penske "Penske Truck Leasing," June 4, 2006 http://en.wikipedia.org/wiki/Penske_Truck_Leasing "Victories," June 5, 2006 www.legacy.usa.net "PCP," June 6, 2006 www.legacy.usa.net "Financial History," June 6, 2006