hitting the breaks

Once-popular bus service departs Houston and Texas after bankruptcy filing

You won't be seeing any Megabus vehicles traversing Texas highways any more. Photo via Getty Images

Texans lost a more sustainable way of traveling the Lone Star State this month.

Megabus, the cheap and efficient bus company that offered rides for as low as $1, has ended service across Texas, including all routes operating between Austin, Dallas, Grand Prairie, Houston, and San Antonio.

According to a notice on the company's website, they shut down the Texas routes on August 16 as part of a set of new nationwide route changes that also included offloading other routes to competing operators.

Known for its eye-catching double-decker royal blue buses, Megabus was first launched in the U.K. in 2003, then came to the U.S. in 2006. It generated considerable excitement when it entered the Texas market in 2012, by offering free Wi-Fi, restrooms, and fares for as low as $1.

The changes come after Coach USA, Megabus' owner, filed for Chapter 11 bankruptcy, winning court approval to sell its Megabus service in July. The company blamed its bankruptcy on a decline in ridership during the pandemic.

Shutdowns:

  • Routes operating between Atlanta, Charlotte, Durham, Richmond, and Washington, D.C. will be discontinued as of August 16th, 2024. Customers with tickets booked on these services have been notified and refunds have been processed.
  • Routes operating between Dallas, Austin, San Antonio, and Houston will be discontinued as of August 16th, 2024. Customers with tickets booked on these services have been notified and refunds have been processed.

New operators:

  • Routes operating between New York, Baltimore, Philadelphia, and Washington, D.C. will be operated by Peter Pan Bus Lines
  • Routes operating between New York, State College, Harrisburg, King of Prussia, and Pittsburgh will be operated by Fullington Trailways

All other routes in the United States and Canada will operate as normal.

Megabus still operates in more than 500 different cities and university campuses across the U.S., including several popular routes between New York, Philadelphia, and Washington, D.C.

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This article originally ran on CultureMap.

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A View From HETI

Twenty-six Houston-area companies landed on the latest Fortune 500 list. Photo via Getty Images

Houston maintained its No. 3 status this year among U.S. metro areas with the most Fortune 500 headquarters. Fortune magazine tallied 26 Fortune 500 headquarters in the Houston area, behind only the New York City area (62) and the Chicago area (30).

Last year, 23 Houston-area companies landed on the Fortune 500 list. Fortune bases the list on revenue that a public or private company earns during its 2024 budget year.

On the Fortune 500 list for 2025, Spring-based ExxonMobil remained the highest-ranked company based in the Houston area as well as in Texas, sitting at No. 8 nationally. That’s down one spot from its No. 7 perch on the 2024 list. During its 2024 budget year, ExxonMobil reported revenue of $349.6 billion, up from $344.6 billion the previous year.

Here are the rankings and 2024 revenue for the 25 other Houston-area companies that made this year’s Fortune 500:

  • No. 16 Chevron, $202.8 billion
  • No. 28 Phillips 66, $145.5 billion
  • No. 56 Sysco, $78.8 billion
  • No. 75 Conoco Phillips, $56.9 million
  • No. 78 Enterprise Products Partners, $56.2 billion
  • No. 92 Plains GP Holdings, $50 billion
  • No. 143 Hewlett-Packard Enterprise, $30.1 billion
  • No. 153 NRG Energy, $28.1 billion
  • No. 155 Baker Hughes, $27.8 billion
  • No. 159 Occidental Petroleum, $26.9 billion
  • No. 183 EOG Resources, $23.7 billion
  • No. 184 Quanta Services, $23.7 billion
  • No. 194 Halliburton, $23 billion
  • No. 197 Waste Management, $22.1 billion
  • No. 214 Group 1 Automotive, $19.9 billion
  • No. 224 Corebridge Financial, $18.8 billion
  • No. 256 Targa Resources, $16.4 billion
  • No. 275 Cheniere Energy, $15.7 billion
  • No. 289 Kinder Morgan, $15.1 billion
  • No. 345 Westlake Corp., $12.1 billion
  • No. 422 APA, $9.7 billion
  • No. 443 NOV, $8.9 billion
  • No. 450 CenterPoint Energy, $8.6 billion
  • No. 474 Par Pacific Holdings, $8 billion
  • No. 480 KBR Inc., $7.7 billion

Nationally, the top five Fortune 500 companies are:

  • Walmart
  • Amazon
  • UnitedHealth Group
  • Apple
  • CVS Health

“The Fortune 500 is a literal roadmap to the rise and fall of markets, a reliable playbook of the world's most important regions, services, and products, and an indispensable roster of those companies' dynamic leaders,” Anastasia Nyrkovskaya, CEO of Fortune Media, said in a news release.

Among the states, Texas ranks second for the number of Fortune 500 headquarters (54), preceded by California (58) and followed by New York (53).

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