Greyhound Lines Contract Offer to Be Submitted to Amalgamated Transit Union Membership for Vote.DALLAS -- Greyhound Lines Greyhound Lines is the largest inter-city common carrier of passengers by bus in North America , serving 2,200 destinations in the United States. It was founded in Hibbing, Minnesota, USA, in 1914 and incorporated as "The Greyhound Corporation" in 1926. , Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Laidlaw International, Inc. (NYSE NYSE See: New York Stock Exchange : LI), today announced that the Amalgamated Transit Union The Amalgamated Transit Union (ATU) is a labor union in the United States and Canada, representing workers in the transit system and other industries. The ATU was founded in 1892, and today has more than 180,000 members in more than 273 local unions in 46 states and 9 (ATU (ADSL Transceiver Unit) A device that provides ADSL modulation of the telephone line. The device at the telco side is the ATU-C (Central), which is a line card plugged into the DSLAM. ) National Local 1700 has agreed to present the company's final contract offer to its membership for a vote. Specific terms of the offer will not be released until presented to union members. Greyhound and the ATU have agreed to extend the current contract through April 15, 2007 to allow time for the voting process. If approved, the new contract would immediately go into effect. The ATU represents approximately 3,300 Greyhound employees, including 3,000 drivers and about half of the company's mechanics. Greyhound is the largest North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. provider of intercity bus transportation, serving more than 2,300 destinations with nearly 13,000 daily departures across the continent. The company also provides Greyhound PackageXpress (GPX GPX - Early system on UNIVAC II. Listed in CACM 2(5):16 (May 1959). ), as well as Greyhound Travel Services including: charters, sightseeing and shore services. For fare and schedule information and to buy tickets call 1-800-231-2222 or visit the Web site at www.greyhound.com. Laidlaw International, Inc. is a holding company for North America's largest providers of school and inter-city bus transport services The collective functions of layers 1 through 4 of the OSI model. and a leading supplier of public transit services. The company's businesses operate under the brands: Laidlaw Education Services, Greyhound Lines, Greyhound Canada and Laidlaw Transit. The company's shares trade on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (NYSE: LI). For more information on Laidlaw International, visit the Web site: www.laidlaw.com. Forward-Looking Statements Certain statements contained in this press release, including statements regarding the benefits of the transaction with FirstGroup PLC, that are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements can be identified by the use of terminology such as: believe, hope, may, anticipate, should, intend, plan, will, expect, estimate, continue, project, positioned, strategy and similar expressions. Such statements involve certain risks, uncertainties and assumptions that include, but are not limited to, * The ability to successfully integrate Laidlaw International and FirstGroup into a combined company and execute its business strategy; * Economic and other market factors, including competitive pressures in the transportation industry and changes in pricing policies; * The ability to implement initiatives designed to realize synergies, increase operating efficiencies or improve results; * Continued increases in prices of fuel and potential shortages; * Control of costs related to accident and other risk management claims; * The potential for rising labor costs and actions taken by organized labor Organized Labor An association of workers united as a single, representative entity for the purpose of improving the workers' economic status and working conditions through collective bargaining with employers. Also known as "unions". unions; * Terrorism and other acts of violence; * Other risks and uncertainties related to the proposed transaction, including but not limited to the satisfaction of the conditions to closing; including receipt of stockholder, regulatory, and other approvals; and * Other risks and uncertainties described in Laidlaw's filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. In light of these risks and uncertainties you are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise. You are advised, however, to consult any further disclosures the Company makes on related subjects as may be detailed in the Company's other filings made from time to time with the Securities and Exchange Commission. |
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