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Triboro Coach is missing some money

 
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Hart Bus



Age: 73
Joined: 24 Apr 2007
Posts: 1150

PostPosted: Fri Apr 22, 2011 9:13 am    Post subject: Triboro Coach is missing some money Reply with quote

On pages 32 & 33 of today's New York Post there is a legal advertisement by some related insurance companies about unclaimed funds. These ads must be placed before turning these funds over to a state comptroller.

The second policy holder shown is Triboro Coach Corp. However the address is 165-25 147th Avenue in Queens. Wonder if it is an employee with a disability or compensation claim since I don't think they had offices at that address.

As with all these notices amounts are never shown.
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traildriver




Joined: 26 Mar 2011
Posts: 2452
Location: South Florida

PostPosted: Fri Apr 22, 2011 11:36 pm    Post subject: Reply with quote

I just checked that address on Google, and it seems to be the MTA JFK depot.
I haven't seen the legal notice refered nor do I quite understand just what it is.
I do recall that prior to the MTA Bus takeover, Triboro Coach, along with Jamaica Buses, Command Bus, and Green Bus Line were all owned by the same owner. That could explain it...
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GBL Rebel
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Joined: 16 Apr 2007
Posts: 608
Location: Long Island, N.Y.

PostPosted: Sat Apr 23, 2011 9:14 am    Post subject: Reply with quote

165-25 147 ave was the main building for all of the Cooper companies. It was also Green Bus Lines main building.
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Hart Bus



Age: 73
Joined: 24 Apr 2007
Posts: 1150

PostPosted: Sat Apr 23, 2011 2:25 pm    Post subject: Reply with quote

Do the Coopers still work out of there? Perhaps we'll get a finder's fee?
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traildriver




Joined: 26 Mar 2011
Posts: 2452
Location: South Florida

PostPosted: Sat Apr 23, 2011 6:14 pm    Post subject: Reply with quote

Hart Bus wrote:
Do the Coopers still work out of there? Perhaps we'll get a finder's fee?


lots of luck on that! Razz
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Mr. Linsky
BusTalk's Offical Welcoming Committee



Joined: 16 Apr 2007
Posts: 5071
Location: BRENTWOOD, CA. - WOODMERE, N.Y.

PostPosted: Sat Apr 23, 2011 11:46 pm    Post subject: Reply with quote

Maybe this will answer a few of your questions (as had been presented in an earlier thread some time ago).

WHERE DID GREEN BUS LINES GO?

While I’ve been away from Green Bus Lines of Jamaica, New York for nearly fifty years, and any interest that my family held in the company was turned over to them by the mid sixties, I still keep tabs on the operation and continue to write of its early history (call it a love affair that has never ended!).

Over the eighty two years of continuous operation in south western Queens County the company racked up impressive milestones including the acquisition of a number of other private operators along the way while posting record breaking passenger receipts.

However, Green Line’s absorption into MTA Bus (a division of the Metropolitan Transportation Authority) earlier this year has to be counted as its most striking departure from the business that it knew best, and closed the books on what was a well respected institution.

It might appear that the company disappeared from the radar scope but, in reality, it still remains a viable entity with its fingers in a number of pies.

To construct its new business model, the stockholders of Green Bus Lines, Triboro Coach Corporation and Jamaica Central Railway, Inc. (DBA Jamaica Buses) met in late March of this year to create a new entity called ‘GTJ REIT’, Inc. (Green-Triboro-Jamaica Real Estate Investment Trust).

After conversion, the holders of stock in Green Line received 1,117.429975 shares of the new company’s common issue with Triboro owners at 2,997.964137 and Jamaica interests 195.001987.

I would have to imagine that GTJ REIT’s most important role will be in the collection and investment of rents derived from long term leases with the MTA on its former depots throughout Queens and Brooklyn.

Other income may include a transportation advertising concern and what may still be an active school bus operation on Long Island and in Westchester (although I stand corrected on these facts).

Offices for the new GTJ REIT, Inc. are now located on Merrick Road in Lynbrook New York.

Information source; The American Stock Transfer Company.

Mr. Linsky
“The Green Hornet”
Green Bus Lines, Inc., Jamaica & Arverne, NY
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roymanning2000



Age: 75
Joined: 01 Aug 2007
Posts: 198

PostPosted: Mon Apr 25, 2011 8:03 am    Post subject: Reply with quote

Very interesting post, Mr. L. I'd be willing to bet that quite a few transit companies did something similar.

Roy
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