A Brief Guilford History

Could anyone give me a little history about GRS? When was the company started up? What were the years when the took control of MEC,B&M,and ST?

Here is a quick&dirty summary of Guilford:

http://www.rrnne.net/GRS.htm

Also, look for the book "Guilford: Five Years of Change" by Scott Hartley. It is a good resource (with lots of great photos) for anybody wanting to learn about the early years of Guilford.

Guilford Transportation Industries acquired the assets of the bankrupt Boston and Maine Corporation on June 30, 1983 in Boston. The price was slightly over $24 million. GTI got all the railroad assets and rights of the B & M and assumed all of the post-bankruptcy obligations - liabilities - of the B & M. Other than current bills, the only major obligation assumed was the outstanding balance of the 4-R loan program that was used to upgrade portions of the Fitchburg Route, 1979-81. Additional working capital was provided from about $5 million in escrow funds that the bankruptcy trustees conveyed to the B & M for working capital.
The trustees moved to a downtown Boston location and spent the next 5 years settling up with 1) First Mortgage bondholders, dollar for dollar all principal and interest, 2) Second Mortgage dollar for dollar on principal and a good portion of the unpaid interest (4% from 11/01/58) and 3) unsecured creditors, initially pegged at 10% of the value of their claims.
The trustees had 5 years to accept and process claims and the remainder of the cash $4-5 million was conveyed to the B & M when the bankrupt B & M estate was dissolved. The source of the cash was escrow funds from property sales, most generated during the bankruptcy years.
The Maine Central business train was parked on Track 2, North Station, that day and was used as an office for signing documents, shaking hands, posing for pictures and setting up the guillotine.

You should state that Guilford bought MEC from US Filter in 1981 first.
I read an article in an old B&M Bulletin quoting Dustin. It said that Mellon and Fink took Alan Dustin and the trustees out to dinner. It sounded like Dustin thought that it was just about traffic to and from MEC, but then Guilford dropped the bomb, and stated their intensions.

Regards the B&M, and Maine Central, I've always wondered, if not Guilford, who? Was anyone else interested in the B&M, and how did they scoop up MEC?
I remember at the time there was a body of opinion that Guilford was primarily interested in leasing the ROW's for fiber optic lines, a potent source of revenue.