Greyhound Lines, Inc., headquartered in Dallas, Texas is the only nationwide provider of scheduled intercity transportation in the United States. As seen on Greyhoundâ€™s web site in 2001 they had more then twenty five million passengers aboard their bus lines and consolidated revenue was $1,022.4 million. Greyhoundâ€™s fleet consists of more then 2,300 buses which arrive and depart from one hundred and twelve company-operated terminals and approximately one thousand seven hundred agency-operated terminals. In 2001, the number of employees nationwide on payroll was twelve thousand and of that amount, approximately thirty six percent are drivers.
Greyhound bus lines operate a ...view middle of the document...
Established in 1914, Greyhound got its start by transporting miners between the villages of Hibbing and Alice, Minnesota. Today, Greyhound Lines, Inc. delivers efficient and dependable service to over 2,600 destinations in the United States. The fleet consists of approximately 2,400 buses, which allows Greyhound to offer18,000 daily departures from various terminals (David, 2001, p. 176).
To maintain its unique leadership position, the company employs more than 11,000 people, including 850 customer service representatives who respond to incoming Greyhound customer calls. Greyhound customers can call a nationwide toll-free telephone number to receive fare and scheduling information or to make reservations and purchase tickets. Because travelers nationwide depend on Greyhound, the company's call center representatives must be available 24-hours-a-day, seven-days-a-week to provide scheduling and passenger ticketing services.
The course of the company has not been smooth as it seems in the figures of their balance sheets. The company has had several changes in its management style and in its approach in maintaining a customer base as well as in an acceptable margin to operate. The main concern for Greyhound is that most Americans have changed their pattern of travel to a more comfortable and faster means than a bus. The market for the potential travelers in buses is reducing as there is little glamour in riding a bus and passing through terminals.
The future of Greyhound is debatable but it has not lost its image or its core customers. With some research and development in supplying customers with a better product, hopefully this will lead to greater market penetration. However, this will remain one of the biggest challenges of Greyhound.
Craig Lentzsch, the current President and Chief Executive Officer of Greyhound Lines, Inc., has done a great job bringing the management team together. Lentzschâ€™s 21years as a veteran of the bus transportation industry has been of great benefit to Greyhound. His leadership has brought the company out of a tight spot, and Greyhound began to show a turn-around in 1998, even though the company was in debt prior to that year. Moreover, Craig Lentzchâ€™s â€œback-to-basicsâ€ approach has pointed the company in new areas and has capitalized on previously untapped revenues such as package delivery, an idea the previous management team thought was not worth the effort. Through the merger with Laidlaw Inc. the company now has some financial strength. Lentzchâ€™s leadership has done well for the company by limiting costs, reducing the age of the fleet, adding new stations, decreasing high employee turnover and producing a profit.
Greyhound initially was not a financially sound company but since 1998, and under good leadership, it is capable of turning a profit and being successful. After five years of negative earnings the company had its first full-year profit realized in...