“Amid the rise of ride-booking services such as Uber, the city’s cab regulator has been unable to close out a sale of taxi medallions more than two years after first taking bids on them. Back then, the city insisted on minimum bids of $360,000 per medallion, creating the possibility of a windfall worth at least $18 million for the cash-strapped city. The failure to finish up the auction is another example of how ride-booking firms have upset assumptions about taxi medallions, which permit drivers to operate a licensed cab in the city. As consumers have shifted to Uber and Lyft, pricing for medallions has fallen and lenders that previously made loans into the market have fled it.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Trump Provides Nuclear War Guarantee To Japan, Contrary To Campaign Pledge
Never throw away your tax returns
California becomes first state in nation to regulate ride-sharing
Glenn Greenwald: Snowden’s Files Are Out There if ‘Anything Happens’ to Him
Gene therapy promises to wipe out rare childhood diseases
New York Fire Department Rescues Cop Stuck in Tree Trying to Rescue Cat
Credit Card Data Breach at Barnes & Noble Stores
Report: Assad agreed to quit on own conditions, US refused
Police Steal $160,000 From Man During Traffic Stop
World anti-doping agency wants a larger budget from national governments
Bombs kill 42 outside mosques in Lebanon's Tripoli after car bomb kills 24
Bank of Japan likely to ease again next week via asset buying
DoJ Files Action to Collect Multiple 50 Percent Civil FBAR Penalties in U.S.A. vs. Zwerner
Man arrested at New York’s JFK airport ‘with uranium for Iran in shoes’
Dennis Rodman ‘planning a vacation’ with Kim Jong-Un