[Judgeetox]

https://mobile.nytimes.com/2018/05/27/nyregion/taxi-driver-suicide-nyc.html

5 documented in the city in 5 months. The cause is not just Uber though. Uber was only the reason the hyper-inflated medallion has been rendered worthless. The reasons medallions were so inflated in the first place is because of greed.

The City of Toronto (and NYC) sold medallions for a reasonable price, but only issued a certain number to protect the livelihoods of the drivers. What happened after is the cause of this tragedy and there are countless stories like this one.

R.I.P. good Sir.

 

[NORMY]

Ouch,poor dude

Michael Cohen Trump's lawyer had 17 and his best friend gene had close to 900.

 

[Judgeetox]

San Francisco Federal Credit Union is suing the City of San Francisco for failing to regulate the taxi industry.

https://www.google.ca/amp/s/sf.curb...ta-taxis-cabs-uber-lyfe-industry-credit-union

Ouch,poor dude

Michael Cohen Trump's lawyer had 17 and his best friend gene had close to 900.

That's the real problem. The city decided to hand over control of the issuance to any investor.

 

[dmoney155]

San Francisco Federal Credit Union is suing the City of San Francisco for failing to regulate the taxi industry.
....

That's ridiculous... that's like me saying I'm going to sue any company I lose money on investment.

 

[Will Ontario]

The medallions wasn't the issue it was pure greed by the first level of owners who made a killing flipping it to immigrants.The medallions was never meant as a investment it was meant to control the volume of allowed taxis to operate.Cry me a river who lost their "investment".

 

[tohunt4me]

https://mobile.nytimes.com/2018/05/27/nyregion/taxi-driver-suicide-nyc.html

5 documented in the city in 5 months. The cause is not just Uber though. Uber was only the reason the hyper-inflated medallion has been rendered worthless. The reasons medallions were so inflated in the first place is because of greed.

The City of Toronto (and NYC) sold medallions for a reasonable price, but only issued a certain number to protect the livelihoods of the drivers. What happened after is the cause of this tragedy and there are countless stories like this one.

R.I.P. good Sir.

O.M.G.

Medallion Suicide Bombers !

Only a matter of time . . .

Until someone flies a plane INTO Uber Corporate . . .

Will it be a Taxi Driver ????

Will it be an Uber Driver ?????

 

[Will Ontario]

Cohen slimy best friend owns like 900 of these medallions and recent value is about $150,000us from a high of 1 million.Now the IRS after those owners because of complex scam of not paying taxes on the leasing of them.

 

[Judgeetox]

That's ridiculous... that's like me saying I'm going to sue any company I lose money on investment.

Not really. If you read the article, it states that the SFFCU was the only one who would issue loans to invest in the medallions while the city assured that it would protect that investment by regulating the industry so only medallion cabs would be permitted to pick up fares.
If the deal is on paper, there is definitely a case here.

There should be a tax imposed on Uber fares that would go directly into a fund to help the cab drivers return their medallions at the very least. As it stands, the 'service fees' collected by the city goes to nothing but a slush fund.

The medallions wasn't the issue it was pure greed by the first level of owners who made a killing flipping it to immigrants.The medallions was never meant as a investment it was meant to control the volume of allowed taxis to operate.Cry me a river who lost their "investment".

True, but it was the city governments that allowed the private transfer of medallions in the first place. The whole reason the medallions were issued is because they were supposed to be returned to the city. I'm not sure when that change occurred though.

 

[NORMY]

They were promised
"Exclusive rights to pick passengers for compensation in the city xyz"
IS what the Toronto city of agreement of sale stated.

 

[babalu]

Where is that school bus driver's comment about this who was disrespecting an other NYC cab driver's grave?

 

[Gone_in_60_seconds]

The medallions wasn't the issue it was pure greed by the first level of owners who made a killing flipping it to immigrants.The medallions was never meant as a investment it was meant to control the volume of allowed taxis to operate.Cry me a river who lost their "investment".

Worst investment ever. Once the technology for Uber was developed and government allowed uber to provide ridesharing service, the medallion licence became worthless. As with all businesses and professions too (doctors, dentists, lawyers, pharmacists) the only reason you can overcharge is because you have a monopoly through a licence. Once that no longer exists, than your licence has no value as you are completely fungible/replaceable with a cheaper alternative.

 

[gbaby]

Where is that school bus driver's comment about this who was disrespecting an other NYC cab driver's grave?

that guy is a terrible person who is a proven hypocrite

 

[Judgeetox]

Worst investment ever. Once the technology for Uber was developed and government allowed uber to provide ridesharing service, the medallion licence became worthless. As with all businesses and professions too (doctors, dentists, lawyers, pharmacists) the only reason you can overcharge is because you have a monopoly through a licence. Once that no longer exists, than your licence has no value as you are completely fungible/replaceable with a cheaper alternative.

the medallion was put into place during the Great Depression when any shmo that was lucky enough to still own a car/cart could run around as a jitney. Eerily familiar to today, but with Uber at the helm creaming the most profit.

That's fair enough, but the 'monopoly' was put into place for that reason; it was supposed to be completely managed by the city, but greed took hold in their offices too. We didn't improve the taxi industry, we helped kill it and reinvent it into something much worse

 

[NORMY]

They gave them to war vets coming home who were labeled undesirable to most employers as thank you

T.o guys took a 100 to 150 hit, on there plate.Although some owner a few did lose alot more its was about 180 to 220.Current price is about 70 to 100 still no takers here

 

[imsam]

How much a cab driver makes in a day in Toronto? Gross?

 

[Gone_in_60_seconds]

How much a cab driver makes in a day in Toronto? Gross?

I met one in Mississauga, he told me he drives 12-14 hours per day and makes 300-400 /day, but told me he still has to pay licencing fees, commercial insurance and dispatch fees (cab company that sends him the requests). LOL.

 

[NORMY]

I met one in Mississauga, he told me he drives 12-14 hours per day and makes 300-400 /day, but told me he still has to pay licencing fees, commercial insurance and dispatch fees (cab company that sends him the requests). LOL.

Cabbin is a little easier out of 12 hour shift, maybe 5 is actual drive time.Fares are large but few and far between.Uber rides you like donkey 12 hours no stop driving

 

[imsam]

I met one in Mississauga, he told me he drives 12-14 hours per day and makes 300-400 /day, but told me he still has to pay licencing fees, commercial insurance and dispatch fees (cab company that sends him the requests). LOL.

What stops someone from leaving their cab? What's the hook they're under?

 

[NORMY]

What stops someone from leaving their cab? What's the hook they're under?

Loans mortgage against there homes

 

[Gone_in_60_seconds]

Loans mortgage against there homes

Still can't understand why someone needs to commit suicide over money. The worst case scenario is he has to declare bankruptcy?