I wouldn't say it's cheating so much as buying yourself some time. If a company goes bankrupt, the computer will generate a new company later on. Hopefully by then you'll have mustered the financial resources to prevent the newcomer from gaining too much ground. The replacement in my current game started off with two airports and a Dart-class airplane, but didn't make a lot of money.
I've also heard that buying 75% of a new rival company early on is a good idea and brings a lot of cash down the road. This depends, of course, if you're trying to mess with their company to begin with.
Some questions:
1. I had a train hauling wood from a forest to a sawmill, and a company built a train from that forest to the sawmill I was delivering to, and the forest stopped providing my train with wood. Is there a way I can take control back?
2. What determines company value? The value of every piece of property you own?
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