Greyhound bus stops are valuable assets. Here’s who’s cashing in on them

[Kal-El814]

Greyhound bus stops are valuable assets. Here’s who’s cashing in on them | CNN Business

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Greyhound bus terminals are rapidly closing around the country, causing access problems for low-income riders.

 

So in addition to the usual suspects and what you likely correctly assume are the issues surrounding this, there's another culprit afoot.

 

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These stations built decades ago are shuttering because of high operating costs, government underfunding and, surprisingly, the entrance of an investment firm buying up Greyhound’s real estate for lucrative resale.

 

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Last year, Alden subsidiary Twenty Lake Holdings purchased 33 Greyhound stations for $140 million. Alden is best known for buying up local newspapers like The Chicago Tribune, New York Daily News and The Baltimore Sun, cutting staff, and selling some of the iconic downtown buildings.

 

Alden has started to sell the Greyhound depots to real estate developers, speeding up the timetable for closures.

 

Private equity is the fucking absolute worst.

[SoberChef]

I feel like this will inevitably be a topic of discussion on John Oliver.

[darkness35]

5 hours ago, SoberChef said:

I feel like this will inevitably be a topic of discussion on John Oliver.

 

Unsure; this would be one topic among many of deregulation, deconstruction, and privatization of public infrastructure. Even worse when  you see how pervasive the process becomes, and how the design is very intentional.