Greyhound Is Limping Badly

To investors in Greyhound Lines Inc., the episode was evidence of shareholder activism at its finest--and quickest. On Aug. 5, Connor, Clark & Co., a Toronto investment manager with an 18.3% Greyhound stake, publicly called for the ouster of Chief Executive Frank J. Schmieder. Four days later, after a special meeting of Greyhound's directors, Schmieder had resigned. "The market has spoken," crowed investor Chriss W. Street of Chriss Street & Co.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.