1
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
----------
FORM 10-Q
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2001
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _________ to _________
Commission file number 1-10841
GREYHOUND LINES, INC.
and its Subsidiaries identified in Footnote (1) below
(Exact name of registrant as specified in its charter)
DELAWARE 86-0572343
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification no.)
15110 N. DALLAS PARKWAY, SUITE 600
DALLAS, TEXAS 75248
(Address of principal executive offices) (Zip code)
(972) 789-7000
(Registrant's telephone number, including area code)
NONE
(Former name, former address and former fiscal year,
if changed since last report)
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act
of 1934 during the preceding 12 months (or for such shorter period
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.
YES X NO
--- ---
As of May 10, 2001, the registrant had 58,743,069 shares of Common Stock,
$0.01 par value, outstanding all of which are held by the registrant's
parent company.
(1) This Form 10-Q is also being filed by the co-registrants specified under
the caption "Co-Registrants", each of which is a wholly-owned subsidiary of
Greyhound Lines, Inc. and each of which has met the conditions set forth in
General Instructions H(1)(a) and (b) of Form 10-Q for filing Form 10-Q in a
reduced disclosure format.
(2) The registrant meets the conditions set forth in General Instructions
H(1)(a) and (b) of Form 10-Q and is therefore filing this form with the
reduced disclosure format.
2
CO-REGISTRANTS
This Form 10-Q is also being filed by the following entities. Except as set
forth below, each entity has the same principal executive offices, zip code and
telephone number as that set forth for Greyhound Lines, Inc. on the cover of
this report:
I.R.S. EMPLOYER JURISDICTION
COMMISSION IDENTIFICATION OF
NAME FILE NO. NO. INCORP.
- ---- ------------ --------------- ------------
Atlantic Greyhound Lines of Virginia, Inc. 333-27267-01 58-0869571 Virginia
GLI Holding Company 333-27267-04 75-2146309 Delaware
Greyhound de Mexico, S.A. de C.V. 333-27267-05 None Republic of
Mexico
Sistema Internacional de Transporte de Autobuses, Inc. 333-27267-08 75-2548617 Delaware
Texas, New Mexico & Oklahoma Coaches, Inc. 333-27267-10 75-0605295 Delaware
1313 13th Street
Lubbock, Texas 79408
(806) 763-5389
T.N.M. & O. Tours, Inc. 333-27267-11 75-1188694 Texas
(Same as Texas, New Mexico & Oklahoma
Coaches, Inc.)
Vermont Transit Co., Inc. 333-27267-12 03-0164980 Vermont
345 Pine Street
Burlington, Vermont 05401
(802) 862-9671
As of March 31, 2001, Atlantic Greyhound Lines of Virginia, Inc. had 150 shares
of common stock outstanding (at a par value of $50.00 per share); GLI Holding
Company had 1,000 shares of common stock outstanding (at a par value of $0.01
per share); Greyhound de Mexico, S.A. de C.V. had 10,000 shares of common stock
outstanding (at a par value of $0.10 Mexican currency per share); Sistema
Internacional de Transporte de Autobuses, Inc. had 1,000 shares of common stock
outstanding (at a par value of $0.01 per share); Texas, New Mexico & Oklahoma
Coaches, Inc. had 1,000 shares of common stock outstanding (at a par value of
$0.01 per share); T.N.M. & O. Tours, Inc. had 1,000 shares of common stock
outstanding (at a par value of $1.00 per share); and Vermont Transit Co., Inc.
had 505 shares of common stock outstanding (no par value). Each of the above
named co-registrants (1) have filed all reports required to be filed by Section
13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12
months (or for such shorter period such co-registrant was required to file such
reports), and (2) have been subject to such filing requirements for the past 90
days.
2
3
GREYHOUND LINES, INC. AND SUBSIDIARIES
PAGE NO.
--------
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements:
Interim Consolidated Statements of Financial Position as of
March 31, 2001 (Unaudited) and December 31, 2000............................ 5
Interim Consolidated Statements of Operations for the
Three Months Ended March 31, 2001 and 2000 (Unaudited)...................... 6
Condensed Interim Consolidated Statements of Cash Flows for the
Three Months Ended March 31, 2001 and 2000 (Unaudited)...................... 7
Notes to Interim Consolidated Financial Statements (Unaudited)................. 8
Item 2. Management's Narrative Analysis of Results of Operations........................ 9
PART II. OTHER INFORMATION
Item 6. Exhibits and Reports on Form 8-K.......................................................... 13
SIGNATURES ........................................................................................ 14
3
4
PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
4
5
GREYHOUND LINES, INC. AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(IN THOUSANDS, EXCEPT SHARE AMOUNTS)
MARCH 31, DECEMBER 31,
2001 2000
------------ ------------
(UNAUDITED)
Current Assets
Cash and cash equivalents ..................................................... $ 9,318 $ 10,206
Accounts receivable, less allowance for doubtful accounts of $312 and $398 .... 49,393 57,923
Inventories, less allowance for shrinkage of $75 and $29 ...................... 8,198 7,788
Prepaid expenses .............................................................. 5,858 4,847
Assets held for sale .......................................................... 4,142 4,198
Current portion of deferred tax assets ........................................ 10,688 10,688
Other current assets .......................................................... 2,338 1,225
------------ ------------
Total Current Assets ..................................................... 89,935 96,875
Prepaid pension plans ............................................................. 33,455 32,483
Property, plant and equipment, net of accumulated depreciation of
$201,837 and $193,724 ......................................................... 404,858 409,070
Investments in unconsolidated affiliates .......................................... 17,485 15,989
Deferred income taxes ............................................................. 36,223 27,452
Insurance and security deposits ................................................... 25,504 24,692
Goodwill, net of accumulated amortization of $5,830 and $5,367 .................... 43,076 43,540
Intangible assets, net of accumulated amortization of $36,432 and $37,571 ......... 27,875 28,011
------------ ------------
Total Assets ............................................................. $ 678,411 $ 678,112
============ ============
Current Liabilities
Accounts payable .............................................................. $ 24,861 $ 24,714
Accrued liabilities ........................................................... 68,907 66,807
Rents payable ................................................................. 28,633 27,211
Unredeemed tickets ............................................................ 9,748 11,750
Current portion of environmental reserves ..................................... 2,947 2,596
Current maturities of long-term debt .......................................... 5,561 5,079
------------ ------------
Total Current Liabilities ................................................ 140,657 138,157
Environmental reserves ............................................................ 5,057 5,698
Long-term debt, net ............................................................... 277,079 267,887
Minority interests ................................................................ 4,408 4,594
Other liabilities ................................................................. 24,317 23,951
------------ ------------
Total Liabilities ........................................................ 451,518 440,287
------------ ------------
Redeemable preferred stock (2,400,000 shares authorized; 102,500 and 106,050
issued as of March 31, 2001 and December 31, 2000) ............................. 2,563 2,651
------------ ------------
Stockholders' Equity
Common stock (100,000,000 shares authorized; par value $.01;
58,743,069 shares issued) .................................................. 587 587
Capital in excess of par value ................................................ 320,622 320,650
Retained deficit .............................................................. (91,761) (80,945)
Accumulated other comprehensive loss, net of tax benefit of $2,756 ............ (5,118) (5,118)
------------ ------------
Total Stockholders' Equity ............................................... 224,330 235,174
------------ ------------
Total Liabilities and Stockholders' Equity ................................. $ 678,411 $ 678,112
============ ============
The accompanying notes are an integral part of these statements.
5
6
GREYHOUND LINES, INC. AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS
(IN THOUSANDS)
THREE MONTHS ENDED
MARCH 31,
2001 2000
--------- ---------
(UNAUDITED)
OPERATING REVENUES
Transportation service
Passenger services .......................... $ 191,623 $ 179,432
Package express ............................. 9,921 10,352
Food services ................................... 9,976 9,506
Other operating revenues ........................ 17,177 15,795
--------- ---------
Total Operating Revenues .................... 228,697 215,085
--------- ---------
OPERATING EXPENSES
Maintenance ..................................... 24,573 22,267
Transportation .................................. 62,559 58,281
Agents' commissions and station costs ........... 45,091 43,147
Marketing, advertising and traffic .............. 8,698 7,478
Insurance and safety ............................ 12,177 11,570
General and administrative ...................... 31,811 28,954
Depreciation and amortization ................... 11,330 10,517
Operating taxes and licenses .................... 15,293 14,911
Operating rents ................................. 20,527 20,542
Cost of goods sold - food services .............. 6,951 6,273
Other operating expenses ........................ 1,699 580
--------- ---------
Total Operating Expenses .................... 240,709 224,520
--------- ---------
Operating Loss ........................................ (12,012) (9,435)
Interest Expense ...................................... 7,312 5,152
--------- ---------
Loss Before Income Taxes .............................. (19,324) (14,587)
Income Tax Benefit .................................... (8,440) (4,748)
Minority Interests .................................... (128) (52)
--------- ---------
Net Loss .............................................. $ (10,756) $ (9,787)
========= =========
The accompanying notes are an integral part of these statements.
6
7
GREYHOUND LINES, INC. AND SUBSIDIARIES
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
(IN THOUSANDS)
THREE MONTHS ENDED
MARCH 31,
2001 2000
------------ ------------
(UNAUDITED)
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss ...................................................... $ (10,756) $ (9,787)
Non-cash expenses and gains included in net loss .............. 3,457 4,834
Net change in certain operating assets and liabilities ........ 5,034 4,624
------------ ------------
Net Cash Used for Operating Activities .................... (2,265) (329)
------------ ------------
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures .......................................... (6,432) (5,591)
Proceeds from assets sold ..................................... 234 12,265
Other investing activities .................................... (1,458) (499)
------------ ------------
Net Cash Provided by (Used for) Investing Activities ...... (7,656) 6,175
------------ ------------
CASH FLOWS FROM FINANCING ACTIVITIES
Payments on debt and capital lease obligations ................ (2,256) (2,318)
Redemption of preferred stock ................................. (118) (11,110)
Proceeds from issuance of common stock to Laidlaw ............. -- 95,491
Purchase of common stock from Laidlaw ......................... -- (86,607)
Redemption of 8 1/2% notes .................................... (14) --
Payment of quarterly preferred dividends ...................... (57) (891)
Proceeds from equipment borrowing ............................. 5,000 --
Net change in revolving credit facility ....................... 6,478 --
------------ ------------
Net Cash Provided by (Used for) Financing Activities ...... 9,033 (5,435)
------------ ------------
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS ................ (888) 411
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD ...................... 10,206 8,295
------------ ------------
CASH AND CASH EQUIVALENTS, END OF PERIOD ............................ $ 9,318 $ 8,706
============ ============
The accompanying notes are an integral part of these statements.
7
8
GREYHOUND LINES, INC. AND SUBSIDIARIES
NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
MARCH 31, 2001
(UNAUDITED)
1. INTERIM CONSOLIDATED FINANCIAL STATEMENTS
In the opinion of management, the unaudited Interim Consolidated Financial
Statements of Greyhound Lines, Inc. and Subsidiaries (the "Company") include all
adjustments, consisting of only normal recurring adjustments, necessary to
present fairly the Company's financial position as of March 31, 2001, the
results of its operations for the three months ended March 31, 2001 and 2000 and
cash flows for the three months ended March 31, 2001 and 2000. Due to the
seasonality of the Company's operations, the results of its operations for the
interim period ended March 31, 2001 may not be indicative of total results for
the full year. Certain information and footnote disclosures normally included in
financial statements prepared in accordance with generally accepted accounting
principles have been condensed or omitted pursuant to the rules and regulations
promulgated by the Securities and Exchange Commission. The unaudited Interim
Consolidated Financial Statements should be read in conjunction with the audited
Consolidated Financial Statements of Greyhound Lines, Inc. and Subsidiaries and
accompanying notes for the year ended December 31, 2000. For the three months
ended March 31, 2001 and 2000, the Company's comprehensive loss was equal to net
loss.
2. REDEEMABLE PREFERRED STOCK
At March 31, 2001 the Company had 102,500 shares of Redeemable Preferred Stock
outstanding which were convertible into cash at $33.33 per share. On March 30,
2001, the Company issued a redemption notice to the holders of the outstanding
shares of Redeemable Preferred Stock whereby any shares which had not been
validly tendered for conversion by April 27, 2001 were redeemed by the Company
at a price per share of $26.74625. During the notice period 98,700 shares,
representing an aggregate conversion value of $3.3 million, were validly
tendered for conversion and the remaining 3,800 shares, representing an
aggregate redemption value of $0.1 million, were redeemed by the Company on
April 30, 2001.
8
9
ITEM 2. MANAGEMENT'S NARRATIVE ANALYSIS OF RESULTS OF OPERATIONS
GENERAL
Greyhound is the only nationwide provider of scheduled intercity bus
transportation services in the United States. The Company's primary business
consists of scheduled passenger service, package express service and food
services at certain terminals, which accounted for 83.8%, 4.3% and 4.4%,
respectively, of the Company's total operating revenues for the three months
ended March 31, 2001. The Company's consolidated operations include a nationwide
network of terminal and maintenance facilities, a fleet of approximately 2,900
buses and approximately 1,800 sales outlets.
The Company's business is seasonal in nature and generally follows the pattern
of the travel industry as a whole, with peaks during the summer months and the
Thanksgiving and Christmas holiday periods. As a result, the Company's cash
flows are also seasonal with a disproportionate amount of the Company's annual
cash flows being generated during the peak travel periods. The day of the week
on which certain holidays occur, the length of certain holiday periods, and the
date on which certain holidays occur within the fiscal quarter, may also affect
the Company's quarterly results of operations.
RESULTS OF OPERATIONS
The following table sets forth the Company's results of operations as a
percentage of total operating revenue for the quarters ended March 31, 2001 and
2000:
THREE MONTHS ENDED
MARCH 31,
2001 2000
--------- ---------
OPERATING REVENUES
Transportation Service
Passenger services ................... 83.8% 83.4%
Package express ...................... 4.3 4.8
Food services ............................ 4.4 4.4
Other operating revenues ................. 7.5 7.4
--------- ---------
Total Operating Revenues ............. 100.0 100.0
--------- ---------
OPERATING EXPENSES
Maintenance .............................. 10.7 10.3
Transportation ........................... 27.4 27.1
Agents' commissions and station costs .... 19.7 20.1
Marketing, advertising and traffic ....... 3.8 3.5
Insurance and safety ..................... 5.3 5.4
General and administrative ............... 13.9 13.5
Depreciation and amortization ............ 5.0 4.9
Operating taxes and licenses ............. 6.7 6.9
Operating rents .......................... 9.0 9.5
Cost of goods sold - food services ....... 3.0 2.9
Other operating expenses ................. 0.8 0.3
--------- ---------
Total Operating Expenses ............. 105.3 104.4
--------- ---------
Operating Loss ............................... (5.3) (4.4)
Interest Expense ............................. 3.2 2.4
--------- ---------
Loss Before Income Taxes ..................... (8.5) (6.8)
Income Tax Benefit ........................... (3.7) (2.2)
Minority Interests ........................... (0.1) 0.0
--------- ---------
Net Loss ..................................... (4.7) (4.6)
========= =========
9
10
The following table sets forth certain operating data for the Company for the
quarters ended March 31, 2001 and 2000. Certain statistics have been adjusted
and restated from that previously published to provide consistent comparisons.
THREE MONTHS ENDED
MARCH 31, PERCENTAGE
2001 2000 CHANGE
------------- ------------- -------------
Regular Service Miles (000's) ................................ 79,937 77,858 2.7%
Total Bus Miles (000's) ...................................... 82,263 80,114 2.7%
Passenger Miles (000's) ...................................... 1,993,051 1,954,370 2.0%
Passengers Carried (000's) ................................... 5,733 5,636 1.7%
Average Trip Length (passenger miles/passengers carried) ..... 348 347 0.3%
Load (avg. number of passengers per regular service mile) .... 24.9 25.1 (0.8)%
Load Factor (% of available seats filled) .................... 50.0% 50.7% (1.4)%
Yield (regular route revenue/passenger miles) ................ $ 0.0961 $ 0.0918 4.7%
Average Ticket Price ......................................... $ 33.43 $ 31.84 5.0%
Total Revenue Per Total Bus Mile ............................. $ 2.780 $ 2.685 3.5%
Operating Loss Per Total Bus Mile ............................ $ (0.146) $ (0.118) (23.7)%
Cost Per Total Bus Mile:
Maintenance ............................................ $ 0.299 $ 0.278 7.6%
Transportation ......................................... $ 0.760 $ 0.727 4.5%
THREE MONTHS ENDED MARCH 31, 2001 AND 2000 RESULTS OF OPERATIONS
Operating Revenues. Total operating revenues increased $13.6 million, up 6.3%,
for the three months ended March 31, 2001, compared to the same period in 2000.
Passenger services revenues increased $12.2 million, or 6.8%, for the three
months ended March 31, 2001, compared to the same period in 2000. The increases
in regular route revenues reflect the combined impact of a 4.7% increase in
yield coupled with a 1.7% increase in number of passengers carried. In response
to rising fuel costs, the Company was able to start instituting ticket price
increases during the first quarter of 2000. The yield improvement obtained
during the first quarter of 2001 is the result of the Company being able to
sustain, and in some cases further raise, ticket prices coupled with the
comparative 2000 period including only a partial quarter of ticket price
increases.
Package express revenues declined $0.4 million, or 4.2%, for the three months
ended March 31, 2001, compared to the same period in 2000 due to reduced
standard product deliveries (the traditional, low-value, terminal to terminal
market segment) offset somewhat by gains in same day and priority product
deliveries. The declines in the standard product are a result of continued
competition, as well as expanded and improved product offerings (such as United
Parcel Service's guaranteed service `brown label' product), from larger package
delivery companies.
Food services revenues increased $0.5 million, or 4.9%, for the three months
ended March 31, 2001, compared to the same period in 2000. Food services
revenues increased over the prior year due primarily to the increase in
passenger traffic, the opening of two additional locations and price increases
on certain retail items and beverages.
Other operating revenues, consisting primarily of revenue from charter and other
in-terminal sales and services, increased $1.4 million, or 8.7%, for the three
months ended March 31, 2001, compared to the same period in 2000. The increase
is primarily attributable to the Company's expansion into "meet and greet"
services provided to cruise lines.
Operating Expenses. Total operating expenses increased $16.2 million, or 7.2%,
for the three months ended March 31, 2001, compared to the same period in 2000.
The increase is attributable to a 2.7% increase in bus miles operated, loss on
asset sales, increased fuel cost, wage increases, driver hiring costs, increased
marketing spending, increased ticket and express commissions due to higher
sales, and health and welfare and management fee increases.
Maintenance costs increased $2.3 million, or 10.4%, for the three months ended
March 31, 2001, compared to the same period in 2000. On a per-mile basis,
maintenance cost increased by 7.6% due to fewer buses under warranty,
10
11
increased material and labor related to body repairs ($0.7 million) and brake
jobs ($0.6 million) and higher utility costs ($0.3 million). During 1997 the
Company started introducing 45 foot buses into the fleet and has experienced a
38% reduction in miles between brake jobs and a greater frequency of drum
replacement compared to the 40 foot buses the Company is using.
Transportation expenses which consist primarily of fuel costs and driver
salaries, increased $4.3 million, or 7.3%, for the three months ended March 31,
2001, compared to the same period in 2000, due primarily to increased bus miles,
fuel costs, and higher driver wages. Transportation expenses increased on a
per-mile basis by 4.5% due largely to a 6.0% ($0.7 million) increase in fuel
prices for the first quarter of 2001 compared to the prior year, increased
drivers hired resulting in increased hiring costs ($1.3 million) and the impact
of driver wage increases.
Agents' commissions and station costs increased $1.9 million, or 4.5%, for the
three months ended March 31, 2001, compared to the same period in 2000. The
increase is primarily due to commissions from increased ticket sales, terminal
salaries associated with staffing for the increase in passengers and terminal
salary raises. As a percentage of revenue, agent's commissions and station costs
declined to 19.7%.
Marketing, advertising and traffic expenses increased $1.2 million, or 16.3% for
the three months ended March 31, 2001, compared to the same period in 2000, due
to increased spending to support the increase in revenues, as well as the timing
of media advertising.
Insurance and safety costs increased $0.6 million, or 5.2% for the three months
ended March 31, 2001, compared to the same period in 2000 due to the increased
revenue. As a percentage of sales, insurance and safety costs were virtually
flat compared to prior year.
General and administrative expenses increased $2.9 million, or 9.9%, for the
three months ended March 31, 2001, compared to the same period in 2000 due to
higher health and welfare costs ($1.3 million) as a result of increased cost per
participant and management fees ($1.3 million) charged by the Company's parent,
Laidlaw Inc.
Depreciation and amortization increased by $0.8 million, or 7.7%, for the three
months ended March 31, 2001, compared to the same period in 2000 primarily due
to increased capital expenditures in prior periods.
Operating taxes and licenses expense increased $0.4 million, or 2.6%, for the
three months ended March 31, 2001, compared to the same period in 2000 due to
increased payroll taxes resulting from increased salaries and head-counts
related to higher business volume (including increased miles operated), and
increased fuel taxes due to increased miles.
Operating rents changed only slightly for the three months ended March 31, 2001,
compared to the same period in 2000 as the Company has not had a significant
change in the number of leased properties or buses.
Food services cost of goods sold increased $0.7 million, or 10.8%, for the three
months ended March 31, 2001, compared to the same period in 2000, primarily due
to the increase in food services revenues as well as food and labor cost
increases.
Other operating expenses increased $1.1 million for the three months ended March
31, 2001, compared to the same period in 2000 principally due to losses on
disposal of property, plant and equipment in the first quarter of 2001.
Interest expense increased $2.2 million, or 41.9%, for the three months ended
March 31, 2001, compared to the same period in 2000 due primarily to an increase
in average debt outstanding.
LIQUIDITY AND CAPITAL RESOURCES
The Company's principal liquidity requirements are to provide working capital,
to finance capital expenditures, including bus acquisitions and to meet debt
service requirements, including the payment of interest on the 11 1/2% Senior
Notes. The Company's principal sources of liquidity are expected to be cash flow
from operations and borrowings under the Revolving Credit Facility. The Company
believes that its cash flow from operations, together with borrowings under the
Revolving Credit Facility, will fund its working capital and near-term capital
expenditure needs. As of March 31, 2001, the Company had outstanding borrowings
under the Revolving Credit Facility of $68.6 million and availability of $56.4
million.
11
12
Net cash used in operating activities for the three months ended March 31, 2001
was $2.3 million, an increase of $1.9 million from the $0.3 million used during
the same period of 2000. The principal reason for the increase is the higher net
loss resulting from increased expenses during the first quarter of 2001. Net
cash used for investing activities for the first quarter of 2001 was $7.7
million compared to the $6.2 million in net proceeds from investing during the
first quarter of 2000. The $13.8 million change is principally due to
sale-leaseback proceeds in the first quarter of 2000. Net cash provided by
financing activities in the first quarter of 2001 was $9.0 million versus $5.4
million used for financing activities during the same period in 2000. The $14.5
million difference is principally due to the redemption of $11.1 million of
Redeemable Preferred Stock in the first quarter of 2000.
12
13
PART II. OTHER INFORMATION
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) EXHIBITS
None.
(b) REPORTS ON FORM 8-K
During the three months ended March 31, 2001, the Company did not file any
current reports on Form 8-K with the Securities and Exchange Commission.
13
14
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: May 15, 2001
GREYHOUND LINES, INC.
By: /s/ Jeffrey W. Sanders
-------------------------------
Jeffrey W. Sanders
Senior Vice President and Chief
Financial Officer
ATLANTIC GREYHOUND LINES OF
VIRGINIA, INC.
By: /s/ Jeffrey W. Sanders
------------------------------
Jeffrey W. Sanders
Senior Vice President and Chief
Financial Officer
GLI HOLDING COMPANY
By: /s/ Jeffrey W. Sanders
-------------------------------
Jeffrey W. Sanders
Senior Vice President and
Chief Financial Officer
GREYHOUND de MEXICO, S.A. de C.V.
By: /s/ Cheryl W. Farmer
-------------------------------
Cheryl W. Farmer
Examiner
SISTEMA INTERNACIONAL de TRANSPORTE
de AUTOBUSES, INC.
By: /s/ Jeffrey W. Sanders
-------------------------------
Jeffrey W. Sanders
Senior Vice President and Chief
Financial Officer
TEXAS, NEW MEXICO & OKLAHOMA
COACHES, INC.
By: /s/ Jeffrey W. Sanders
-------------------------------
Jeffrey W. Sanders
Senior Vice President and Chief
Financial Officer
T.N.M. & O. TOURS, INC.
By: /s/ Jeffrey W. Sanders
-------------------------------
Jeffrey W. Sanders
Senior Vice President and Chief
Financial Officer
VERMONT TRANSIT CO., INC.
By: /s/ Jeffrey W. Sanders
-------------------------------
Jeffrey W. Sanders
Senior Vice President and Chief
Financial Officer
14