TRANSPORTATION

From Times Staff and Wire Reports

Greyhound Will Miss Interest Payment: The bus company said it will delay the $4.2-million payment on its bonds in order to develop a financial restructuring plan. News of the postponed payment, due Friday, sent the value of Greyhound bonds plunging. Greyhound Lines Inc., the only nationwide bus carrier, emerged from bankruptcy protection in 1991 but has suffered persistent losses partly because of competition with regional airlines. The Dallas-based company said its financial adviser, Rothschild Inc., advised against the payment on $98.9 million in notes that mature in 2007.

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