Gray Line Bus Co. v. Greater Bridgeport Transit District

The principal issue presented in this appeal is whether in an eminent domain proceeding the condemning authority must compensate a public utility company for the “going concern value” of the enterprise, including the franchise itself, where the rate of return from the whole system is insufficient to warrant the investment necessary to acquire the physical assets of the system, i.e., the land, buildings and equipment necessary for its operation.

The plaintiff appealed the assessment of $532,000 damages filed by the defendant in taking the property of the plaintiff by eminent domain. The case…