SF Transit bus goes out of business, auctioning 4 buses

[daveola]

A startup commuter bus company in SF just went out of business, seems they are auctioning of their buses:

http://www.businessinsider.com/leap-declares-bankruptcy-2015-9

[Brassman]

CNG buses from what I see.

[HB of CJ]

Federal and State business start up grants come to mind?  Can one imagine how much red tape would be involved trying to start up an eco related transit business in CA?

[gumpy]

"Leap estimated that it had between $100,000 and $500,000 of debt, as well as $100,000 to $500,000 in assets. The company could identify more than $129,000 in owed back wages and other claims, but it had a long list of creditors and investors that it had to notify about its bankruptcy."

Not really a surprise they went bankrupt if they don't even know what their debt is.

My son saw this a few days ago and texted me. All he said was they were selling their buses for $5. I texted him back and said, "Buy them all. I have connections to move them."   

[belfert]

Who is really the target market for a bus service that charges $6 each way?  SF Muni is only $2.25 each way.  I would think someone who could afford $6 each way for a bus might be driving or something else.  You gotta sell quite of few of those $4.50 coffee drinks just to pay the employee.

[daveola]

Well, clearly it didn't work this time. 

But, as someone who has had to drive in SF, if they are on your route, then it could be worth it just to have a relaxing drive and be able to get some work done.

But it would really require that the bus matches your time and route, and with only 4 buses....

[goldgiter]

Maybe if they served some decent food that real people eat they would have made it!

Wes