May 16, 1985
The Phoenix-based company said it has decided to focus the resources of its bus subsidiary on trips of less than five hours because the long-haul business has been taken over by the airlines, a company executive said. Greyhound Chairman John W. Teets said he blamed a "bad marketing strategy" for the $1.3-million loss in 1984 by its Greyhound Lines unit. He said Greyhound Lines, which accounts for about 31% of the company's revenue, "failed to recognize that long-haul business is dead."
May 2, 1986
Greyhound Corp. reported net income of $10.3 million on combined revenue of $751 million for the quarter ended March 31, down sharply from the $19.1-million profit on revenue of $680 million reported in the first quarter of 1985. John W. Teets, chairman and chief executive of the Phoenix-based company, attributed the decline to gains from 1985 real estate transactions involving Greyhound Lines and to high claim losses by a mortgage insurance unit, Verex. Greyhound Corp.
August 16, 1985 |
Greyhound Corp. on Thursday announced a major restructuring of its Greyhound Lines subsidiary that will drastically shrink the nation's largest bus system, cutting its work force by nearly 16%.
April 30, 1986 |
Greyhound Corp., parent of the country's largest bus line, announced plans Tuesday to divide into four regional carriers and let independent agents manage all of the company's terminals, part of a strategy aimed at competing more effectively against low-fare airlines. Chairman John W. Teets said the "revolutionary" plan will go into effect May 11. Teets said Greyhound Lines President Frederick Dunikoski has been named chief executive of the company. Frank Nageotte will continue as chairman.
August 6, 1990 |
The Amalgamated Transit Union, which is on strike against Greyhound Lines Inc., said today that it and the New York investment house Blackstone Group are negotiating to buy the nation's largest bus company. Greyhound filed for bankruptcy protection in June after the union declared a strike against the interstate bus company on March 2. Greyhound said the bankruptcy filing was due to strike-related losses.
October 1, 1999 |
Greyhound Lines Inc., the nation's largest bus firm, agreed to improve service for passengers with disabilities, resolving complaints that its drivers and other employees violated an antidiscrimination law, the Justice Department said. It added that the out-of-court agreement resolved complaints alleging that passengers with disabilities were denied boarding assistance, sustained injuries while being physically carried on and off buses and were verbally harassed.
June 19, 1986 |
Greyhound Lines will halve its maximum one-way fare to $59 in a summer campaign to recapture passengers attracted to low-cost airlines, the nation's biggest bus company announced Wednesday. Greyhound also announced that passengers who buy one-way tickets costing at least $25 may take a companion for $2 extra. The discounts go on sale Monday and require 30-day advance purchase, travel between Monday and Thursday and a $15 cancellation fee. They are good through Sept. 30.
September 15, 1986 |
One hundred thirty-three Greyhound Lines employees will lose their jobs in the next few weeks when the company closes a Los Angeles telephone information center as part of a continuing cost-cutting effort brought about by a drop in passenger traffic. Herb Dougherty, a spokesman for Greyhound in Phoenix, said Friday that the phone center will close by Nov. 1, when six Western centers will be consolidated in Omaha.
July 3, 1987 |
The Interstate Commerce Commission gave temporary approval Thursday to the merger of Greyhound and Trailways, the nation's two largest bus companies. The 5-to-0 vote approving the joint operation of Greyhound Lines and Trailways Lines Inc. came as the Justice Department advised the commission that Trailways qualified as a "failing company" under federal antitrust laws and therefore the merger would not violate those laws.