From NorthJersey.com:
Coach USA bus company files for bankruptcy. How will it impact NJ riders?
Paramus-based Coach USA — one of the largest private bus companies in the country — filed to begin Chapter 11 bankruptcy proceedings this week.
Dan Rodriguez, vice president of public affairs for Coach USA, said the company has struggled to regain ridership since the COVID-19 pandemic, not unlike the fiscal challenges being experienced around the country by for-profit transportation companies and subsidized agencies, including NJ Transit, which is expected to have a nearly $1 billion deficit in 2026.
“For the last several months, we’ve been carefully evaluating a broadband of strategic options and what we wanted to ensure was what would best support our communities, our customers and our employees who depend on us,” Rodriguez told NorthJersey.com.
“Our number one priority continues to be to provide our customers with uninterrupted safe and affordable transportation here in New Jersey and beyond,” Rodriguez said.
Coach USA has roots in the bus industry that are over 100 years old. Today, it has 25 business segments, employs about 2,700 people and operates about 2,070 buses across the U.S. and Canada for its charter, airport shuttles and scheduled route services, including 30 private scheduled service routes in New Jersey and 35 routes in contract with NJ Transit.
Among its most known brand names is the affordable intercity bus-booking brand, Megabus.
In 2023, Coach’s total ridership was only 45% of what it was before the pandemic, according to court documents. This is well below that of the region’s transit agencies, including NJ Transit, which has recovered about 80% of ridership.
“After the initial onset of the COVID-19 pandemic in the first quarter of 2020, the company’s revenues slowly rebounded, with revenues reaching nearly 58% of pre-pandemic levels in 2022,” according to documents filed in court. “At the same time, however, operating expenses increased disproportionately, largely due to rising fuel, insurance, labor costs and other inflationary impacts on the cost base.”
( )( )=======D 1st
I have taken the bus from time to time over the years to NYC, when the trains were not operating. Unplesant dreary ride in.
Part of the reason former President Donald Trump traveled to Washington D.C. on Thursday was to huddle with an influential group of CEOs.
But apparently it didn’t go as well as planned.
CNBC’s Andrew Ross Sorkin said Friday he spoke with some people who attended the meeting — including business leaders he thought would be attracted to supporting Trump against President Joe Biden — who said they were turned off after they heard Trump speak.
“I will say I was surprised. I spoke to a number of CEOs who I would say walked into the meeting being Trump support-ish or thinking that they might be leaning in that direction, who said he was remarkably meandering, could not keep a straight thought, was all over the map,” Sorkin said. “What’s interesting to me because these were people who, I think, might have been actually predisposed to him and walked out of the room less predisposed, actually predisposed to thinking … as one person said, ‘This may not be any different or better than a Biden thought if you’re thinking that way.’”
LAX: Interesting, as there is an article in the WSJ this morning saying the exact opposite, including referencing comments made recently by Jamie Dimon that “ Trump was kind of right on some things.”
3b – so called “journalists and columnists” discard inconvenient truths all the time.
Fact is he is popular. Those CEOs would have never show up to that meeting otherwise.
Again 80 CEOs of major companies. Apple CEO Tim Cook and JP Morgan Chase CEO Jamie Dimon and others.
There weren’t there for a free t-shirt.
Juice and LAX: with that dude, it is pure fealty. The last thing you need is to have Jabba invoke your name or business. It is all downside, there is no upside with him. So you show up for the photo shoot, burn you clothes afterward, and take a long hot disinfecting shower.
D-FENS says:
June 14, 2024 at 9:43 pm
https://theleadingreport.com/
BREAKING: Trump allegedly floated the concept of eliminating the income tax and replacing it with tariffs at the GOP meeting at the Capitol Hill Club.
12:52 he’s an idiot.
Chicago says:
June 15, 2024 at 10:41 am
“…it is pure fealty…you show up for the photo shoot, burn you clothes afterward…”
Disagree. I suspect most of these CEO’s have known two things all along,…
– T was always the better choice; his approach to corporate taxes and regulation, and even his recognition that free trade must also be fair trade, have always been better for their businesses
– the modern Dem party is incapable of good governance; I’ve asked the question many times here, someone please find an example of good Dem governance — crickets!
It wasn’t acceptable for them to be publicly pro-T 4 years ago, but I suspect many voted for him. After 4 disastrous years of Joe, with him now clearly displaying signs of severe dementia, and with reasonable people having shown they’re fed up with DEI nonsense, I’m sure they feel more comfortable publicly backing T — and probably believe it’s critical that we not get four more years of the Dems (Joe, and whoever replaces him since he will not last 4 years).
Trump’s an illiterate nepo-baby pant shitting pervert.
” the modern Dem party is incapable of good governance; I’ve asked the question many times here, someone please find an example of good Dem governance — crickets!…”
Good governance. Pathetic. How many of Trump’s team are in prison now? Trump is on his way. Is that “good governance”? The pandemic cleared out thousands of Trump voters, because of “good governance”? Or is all of this just Darwinism.
A scandal free administration, quietly governing without the shit-show drama and grifting Trump shit stains. I’ll take it.
https://www.bloomberg.com/news/videos/2024-06-14/summers-most-inflationary-policy-proposal-of-my-lifetime
more “inconvenient truths”
Yes it’s the battle of old codgers…Trump is now 78 years old. Biden is 81 years old.
There is this time no Covid.. Think about it folks. Trump is on the campaign trail, nearly every day in a new city. Last time sleepy Joe in 2020 phoned it in from his basement during covid. Not so sure he can make that many campaign appearances.
I don’t care who you are voting for Biden acts and looks very old and yes I still want neither to be president.
I do love how the left is trying with their new talking points to portray him as an incontinent flatulent and more importantly old man.
Both are true for either candidate.
Just like the election of 1992 we need a new stuttering John to ask this time around if they prefer Depends or Prevail brand of diapers.
All the campaigning in the world won’t matter if all you can do is utter gibberish and lie about the number of people who attend your lame ass rallys.
Trump won’t win in Nov. He’s a joke.
With DeCamp’s demise I have been taking the bus in and out from the Willowbrook park and ride and it is almost always full. Sometimes there is a second overflow bus at Willowbrook to take us in. They added more parking spaces as they were full by 8am. What’s awful are the 230 gates in the Port Authority. People line up at the wrong door at the gate then get mad it no one lets them cut into the correct line.