Greyhound Lines History
Greyhound Lines History
Greyhound Lines, Inc., was founded in 1914 by Cark Eric Wickman and its first business was providing bus transportation for mine workers. After that the company continued to grow and expand its bus routes, by 1930 the name Greyhound Corporation was adopted and the running dog logo that became their unique brand sign was introduced. Over the next 20 years Greyhound continued to acquire bus interests in order to consolidate routes either by purchase, stock swaps or mergers. By 1960 the company had substantially achieved its objective of operating a bus system that could carry passengers to most destinations throughout the States. By the end of 1963 Greyhound was operating in three major businesses: transportation, manufacturing and financial services. In 1966 Gerry Trautman was appointed CEO and he continued the strategy of diversification through expansion and growth. From 1966 to 1970 Greyhound acquired more than thirty widely different companies and formed a new operating division, services: it specialized in managing transportation-related businesses such as duty free operations, building displays for exhibitions, aircraft servicing business, cruise ship lines, furniture moving, limousine service and the like. In 1978, Trautman engineered another major acquisition, moving into the private insurer business for residential mortgages. All these acquisitions were meant to make Greyhound more resistant to economic downturns. In 1981, John Teets succeeded Gerry Tautman as CEO with the aim to manage Greyhound’s diverse business. Teets sold the food company in 1983 which meant that Teets was chopping off nearly half of Greyhounds business. Realizing the threats by deregulation of the bus business and a stronger rivalry within the industry he decided in 1986, in an effort to save the bus line, to convert 120 company owned terminals to commission agencies, trimming a huge overhead burden. Nevertheless, due to problems with labor unions Teets
Greyhound Lines, Inc., was founded in 1914 by Cark Eric Wickman and its first business was providing bus transportation for mine workers. After that the company continued to grow and expand its bus routes, by 1930 the name Greyhound Corporation was adopted and the running dog logo that became their unique brand sign was introduced. Over the next 20 years Greyhound continued to acquire bus interests in order to consolidate routes either by purchase, stock swaps or mergers. By 1960 the company had substantially achieved its objective of operating a bus system that could carry passengers to most destinations throughout the States. By the end of 1963 Greyhound was operating in three major businesses: transportation, manufacturing and financial services. In 1966 Gerry Trautman was appointed CEO and he continued the strategy of diversification through expansion and growth. From 1966 to 1970 Greyhound acquired more than thirty widely different companies and formed a new operating division, services: it specialized in managing transportation-related businesses such as duty free operations, building displays for exhibitions, aircraft servicing business, cruise ship lines, furniture moving, limousine service and the like. In 1978, Trautman engineered another major acquisition, moving into the private insurer business for residential mortgages. All these acquisitions were meant to make Greyhound more resistant to economic downturns. In 1981, John Teets succeeded Gerry Tautman as CEO with the aim to manage Greyhound’s diverse business. Teets sold the food company in 1983 which meant that Teets was chopping off nearly half of Greyhounds business. Realizing the threats by deregulation of the bus business and a stronger rivalry within the industry he decided in 1986, in an effort to save the bus line, to convert 120 company owned terminals to commission agencies, trimming a huge overhead burden. Nevertheless, due to problems with labor unions Teets