November 22, 1987 |
There had not been so much excitement in this rural southeast Tennessee town of 4,500 people since the Fourth of July. Highway 127, the main drag, was blocked off to vehicular traffic. A bunting-draped speakers' platform was rigged in front of the old Sequatchie County Bank building. The high school band provided the music; congressmen, state legislators and city and county officials provided the oratory.
July 19, 1987 |
Deregulation came too fast. It opened the door to too many new entrants all at once, rather than gradually. It brought the public some low fares, but the fare wars generated by the competition depressed yields and lowered profits. That, in turn, led to a drop in service standards, poor on-time performance and some bankruptcies. The public is complaining. Questions have been asked about equipment maintenance procedures.
July 15, 1987
After signing final contracts to buy $80 million in assets from the financially troubled bus line, Greyhound Chief Executive Fred Currey predicted that the acquisition would be profitable immediately. Greyhound hopes to fill its job openings with Trailways employees, but those who cannot be placed will receive severance benefits. Greyhound says no city will lose service, but about 41,600 miles of service, or 5.1%, will be eliminated.
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.
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.
June 20, 1987 |
"In those days," recalled public television's Jim Lehrer, "little boys would be asked what they wanted to be when they grew up. They were just as likely to say bus driver as policeman--and more likely to say bus driver than airline pilot." The days that Lehrer spoke of Friday after hearing that Greyhound Lines would buy Trailways, its only nationwide bus line competitor, were 30 or 40 years ago when riding between cities by bus was still a principal mode of long-distance travel.