August 15, 1985
Greyhound Lines, which lost $1.3 million in 1984, announced today that it will abolish 400 management jobs and lay off 1,500 rank-and-file workers to reflect the declining number of travelers using intercity bus service. John W. Teets, chairman of the board and chief executive officer of parent Greyhound Corp., said the moves will reduce the subsidiary's facilities, fleet and personnel "to a level consistent with the current competitive and economic climate in the intercity bus industry."
July 17, 1988 |
When People Express died, Fred G. Currey was not among the mourners. In fact, the demise of the no-frills, discount airline in December, 1986, was good news for the Dallas entrepreneur. He had announced just the week before that, together with a group of other businessmen, he was going to buy virtually all of Greyhound Corp.'s money-losing bus operations. When it made its $270-million investment, Currey's group, called GLI Holding Co.
October 20, 1998 |
Greyhound Lines Inc. agreed to be acquired by Canada's Laidlaw Inc., North America's largest ambulance and passenger bus company, for about $470 million. Laidlaw, which already owns Greyhound Lines of Canada, will pay $6.50 a share for Dallas-based Greyhound, valuing the stock portion at about $470 million. That's a 33% premium to Greyhound's price of $4.88 on Friday. Laidlaw also will assume $180 million in Greyhound debt. News of the deal sent Greyhound shares up 81 cents, or 17%, to close $5.
June 5, 1990 |
The 13-week-old Greyhound bus strike, already mired in litigation and anger, grew even more complex Monday when financially ailing Greyhound Lines Inc. filed for protection from its creditors under Chapter 11 of the U.S. Bankruptcy Code. Having suffered massive revenue losses this spring due to low ridership and heavy security costs, Greyhound attempted in past months to renegotiate its debts with creditors. But on Monday, J.
July 8, 2013 |
Greyhound Lines, the bus service that launched nearly 100 years ago, is shifting into the 21st century by adding free onboard entertainment and wireless Internet services. The Dallas-based company announced Monday the launch of an onboard system that allows passengers to surf the Web, watch movies, listen to music and play games on their own electronic devices. The service is beginning on the company's premium Greyhound Express service between Dallas and Houston as a six-month pilot program, with an expansion to other areas expected later this year.
June 27, 1994 |
Snyder Capital Group Group Acquires 9.1% of Greyhound: An investment group that includes Snyder Capital Management Inc. acquired the stake in Greyhound Lines Inc., stating that it hopes to improve the Dallas-based company's business operations. Snyder, a San Francisco-based investment adviser, and Stirling Partners acquired 793,300 shares of Greyhound Lines stock between April 20 and June 20, according to a Schedule 13-D filed with the Securities and Exchange Commission.