Word: greyhounds
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...Greyhound Lines began by losing money, and Wickman sent Orville Swan Caesar to build it up. Once a mechanic's helper, Mr. Caesar entered the bus business by operating a taxi fleet in Superior, Wis., then a small stage line which was later bought by Northland Transportation. He made Greyhound Lines prosper, and as a result now, at the age of 37, is U. S. bus tycoon, President of a corporation with an estimated investment of $16,000,000 and profits (last year), of $1,549,000. He rarely leaves motors and roads to putter on his yacht...
Carl Eric Wickman, 42, chief Greyhound advisor, is at present Chairman of the Pacific Greyhound System where he is coordinating things. A great broad-shouldered man who has not lost his Swedish accent, he prefers Eric to Carl, loves sport, lets no one make him write letters, whistles during conferences...
...present Greyhound structure is Greyhound Corp., a holding company. It controls Greyhound Management Co. which supervises operations of the midwest division. Most of the actual operating companies are not actually controlled, but coordinated schedules have been arranged over the entire system, and affiliated lines are closely bound by use of the word "Greyhound" and by joint purchasing agreements...
...Greyhound Lines cover 36,000 miles of road, over which also travel Greyhound motorcycle patrolmen, inspecting roads and checking up on bus driving. Last year 2,264 Greyhound busses (average cost: $8,000), carried 18,000,000 passengers, went 100,000,000 miles, used 19,000,000 gallons of gasoline. Lest patriots feel Greyhound benefits from free highway use, the corporation points out that it pays over $1,000,000 in taxes a year, that the gasoline tax alone would maintain two coast-to-coast highways. Four thousand workers, trained in special schools, are employed. The company carries insurance...
When a $4,000,000 issue of Greyhound bonds was offered last month, large holders of the common stock were disclosed to be Pennsylvania, Southern Pacific, Insull interests, Goldman Sachs Trading Corp., Automotive Investments, Inc. How much each holds and especially how much Penn, has remained a closely guarded secret...