
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, June 6, 1990                   TAG: 9006060234
SECTION: BUSINESS                    PAGE: A-9   EDITION: METRO 
SOURCE: 
DATELINE: DALLAS                                LENGTH: Short

BUS UNION VOWS TO FORCE CURREY OUT

Greyhound Lines Inc. on Tuesday promised to continue service despite a bankruptcy reorganization filing that delighted striking drivers and raised questions about the future of the nation's only intercity bus carrier.

W.R. Gibson, Jr., president of Kansas City-based Local 1313, said the union probably would ask the bankruptcy court to appoint a trustee to manage the company. "We're going to plan on replacing [Greyhound chairman] Fred Currey," Gibson said Tuesday.

Listing liabilities of almost $540 million, the Dallas-based company filed Monday for Chapter 11 bankruptcy protection from creditors while it tries to reorganize its finances.

U.S. Bankruptcy Judge Richard Schmidt scheduled a hearing for Thursday morning in Brownsville.

"Passengers won't see any changes at all," said Liz Hale, a Greyhound spokeswoman.

There were no reports of riders flocking for refunds after the filing, but those who wanted refunds should contact local customer service representatives, she said. All tickets were being honored, she said.

Several industry analysts predicted Greyhound would emerge from reorganization as a smaller carrier servicing even fewer routes.

Others said the reorganization could help Greyhound raise badly needed working capital, but would delay the company's attempted $225 million junk bond buy-back.

- Associated Press

by CNB