June 20, 1987 |
Greyhound Lines Inc., the nation's largest interstate bus company, announced Friday that it will buy the bus routes and other assets of its last remaining nationwide competitor, the financially ailing Trailways Corp. Fred G. Currey, Greyhound's new chief, whose GLI Holdings Inc. of Dallas on March 18 purchased the entire Greyhound bus system from Phoenix-based Greyhound Corp., said that he applied Friday for Interstate Commerce Commission approval of his acquisition of Trailways.
March 20, 1987
The nation's largest intercity bus concern became the property of GLI Holdings Inc. of Dallas. Purchase price was exceeded $350 million in cash, securities, royalties and other considerations. On its first day under new management, Greyhound slashed fares on 166 of its shorter routes, many by 50% or more. "These are new, lower fares, not just opening day specials," said Fred G. Currey, chairman and president of the successor bus company.
February 24, 1987
Unionized drivers and other workers of Greyhound Lines Inc. ratified a three-year agreement with the bus line's prospective new owners that calls for wage concessions of nearly 20%, union and company officials said. The agreement also includes incentive-pay plans that could offset part of the wage cut, they said. The contract was approved by a vote of 3,526 to 1,476, a spokesman for the Greyhound Council of the Amalgamated Transit Union said. Phoenix, Ariz.-based Greyhound Corp.
December 24, 1986 |
Greyhound Corp., after more than 70 years in the bus business, announced Tuesday that it will sell almost all of its Greyhound Lines bus operations to a Texas investor group for more than $350 million in cash, securities and royalties.