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| O. Roy Chalk attempt to buy 5th Avenue Coach (345665) | |
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Re: O. Roy Chalk attempt to buy 5th Avenue Coach |
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Posted by Andy on Sat Jun 18 13:02:01 2022, in response to O. Roy Chalk attempt to buy 5th Avenue Coach, posted by Allen45 on Fri Jun 17 19:18:45 2022. In my book From a Nickel to a Token, a paragraph in Chapter 16 is devoted to Chalk’s attempt to buy Fifth Ave. Coach early in 1962. The attempt died quickly, probably because the Harry Weinberg group that did take control of FACO and Surface Transit in February 1962 purchased FACO stock quickly enough to get a majority of votes on the Board of Directors. By March 1 the Weinberg faction provoked the strike that led to MABSTOA’s sudden creation later in March. Events were happening very quickly, and Chalk’s abortive attempt to purchase FACO was soon forgotten. |
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Re: O. Roy Chalk attempt to buy 5th Avenue Coach |
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Posted by Allen45 on Sat Jun 18 14:45:07 2022, in response to Re: O. Roy Chalk attempt to buy 5th Avenue Coach, posted by Andy on Sat Jun 18 13:02:01 2022. Thanks for the reply Andy! Yes I read that chapter. I have been searching up newspaper archives and the like for something more detailed about the events that led up to 5th avenue coach’s sudden demise and what made it such a “perfect storm”.One thing that stands out is how easily Fifth Avenue Coach’s FACO and NYCO division assets could’ve been sold to someone else during the January 1962 strike while the Moreland faction kept Surface Transit. Yes Weinberg still probably would gain control of Fifth Avenue Coach the corporation, but any events might have largely been confined to Surface Transit or happen a few years after 1962 instead of in 1962. Of note, the westchester street transportation strike in March 1962 ended quickly and Quill got a no layoff clause out of Weinberg for Westchester. |
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Re: O. Roy Chalk attempt to buy 5th Avenue Coach |
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Posted by Allen45 on Thu Dec 8 12:56:14 2022, in response to O. Roy Chalk attempt to buy 5th Avenue Coach, posted by Allen45 on Fri Jun 17 19:18:45 2022. Also does anyone know what happened to the people that were a part of the Moreland faction after they resigned? Was John Moreland in the bus business afterwards? |
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Re: O. Roy Chalk attempt to buy 5th Avenue Coach |
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Posted by W.B. on Thu Dec 8 15:41:20 2022, in response to Re: O. Roy Chalk attempt to buy 5th Avenue Coach, posted by Allen45 on Sat Jun 18 14:45:07 2022. The seeds of their demise after the March 1 strike - Chalk or no Chalk - were planted during the 4-day (January 1-4, 1962) strike, in which Mayor Wagner ominously threatened FACL with the revocation of all their franchises if they did not return to the bargaining table with the TWU. (The settlement of that dispute was what led to the end of the free transfer policy which would remain in place up to the 1975 fare increase and the creation of the "Add-A-Ride" half-fare transfer system.)Come March 1 and the next strike, Wagner made good on his threat. (This, from New York Times articles of the period.) |
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Re: O. Roy Chalk attempt to buy 5th Avenue Coach |
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Posted by Allen45 on Thu Dec 8 20:17:11 2022, in response to Re: O. Roy Chalk attempt to buy 5th Avenue Coach, posted by W.B. on Thu Dec 8 15:41:20 2022. There's a scenario where it could've been avoided. Fifth Avenue Coach was willing to sell Fifth Avenue Coach and keep Surface Transit. Two reasons this didn't happen as per news reports: 1) Moreland wanted guarantees from Harry Weinberg that him and his team would remain in charge if Fifth Avenue Coach was sold, 2) the City didn't want to buy Fifth Avenue Coach which was unprofitable but let the private company keep Surface Transit. Although the Queens private bus companies would've purchased Fifth Avenue Coach if a window opened for them to do so in the January 1962 strike. The main reason the Queens privates didn't purchase the Fifth/Surface operation during the March strike was that it was too expensive. Furthermore, there were people close to Weinberg trying to get a higher valuation for the city which made things complicated. |
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