“A medallion is required to operate a New York City yellow taxicab, the only type of vehicle allowed to accept passengers who hail cabs on the street. Until recently, those medallions could sell for over $1 million. Companies like White & Blue Group, one of the plaintiffs in the case, managed fleets of licensed taxicabs by leasing out the medallions. ‘With companies like Uber operating in the marketplace free of regulatory burdens… licensed taxicab drivers have left the taxicab industry in droves, choosing instead to drive for Uber,’ states the complaint.  Companies like White & Blue ‘have been forced to repeatedly slash daily lease rates to compete,’ it continues.”

http://arstechnica.com/tech-policy/2015/11/cab-medallion-owners-sue-nyc-blame-uber-for-ruining-business/

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