OTHER NEWS - Dec. 23, 1994

Greyhound Gets Enough Bondholders to Complete Swap: With the threat of a second bankruptcy reorganization behind it, the Dallas-based bus line is looking to bill itself as a cut-rate alternative to the cheapest airlines. Just more than 90% of Greyhound Lines Inc.’s bondholders agreed to swap their debt for stock in the company. Greyhound had said that if 90% of the investors didn’t go along, it would take the reorganization effort to Bankruptcy Court. The out-of-court restructuring is key to the company’s efforts to reduce expenses so it can deal with lower ridership and reverse losses. Greyhound also said it will give shareholders more time to take advantage of rights to acquire more stock in the company.