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A million bucks for a single taxi medallion was pure economic tyranny.
You're right.. But you think it was a coincidence the LOWEST MINIMUM BID ALLOWED was I think 650,000 or 700,000 to place a bid on a medallion(which doesn't leave much room in an auction format to not hit 1 million).. And the dude who set those prices just happened to leave the TLC a month after Bloomberg left and became a consultant for Uber and Lyft?
 

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You're right.. But you think it was a coincidence the LOWEST MINIMUM BID ALLOWED was I think 650,000 or 700,000 to place a bid on a medallion(which doesn't leave much room in an auction format to not hit 1 million).. And the dude who set those prices just happened to leave the TLC a month after Bloomberg left and became a consultant for Uber and Lyft?
I know a lot of people were financially devastated by the fall in price of medallions, but my sympathy level for them is in inverse proportion to their level of greed.
 

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I know a lot of people were financially devastated by the fall in price of medallions, but my sympathy level for them is in inverse proportion to their level of greed.
All medallion owners? or the big ones? because I am not going to knock a dude.. most of the time an immigrant who saved up a down payment in hopes he can have it as an investment.

What's more greedy? a dude who paid the city the price they want + more to fight off the competition to get a medallion...

or the dude and the company who say "hey.. **** a piss test, **** a background check, **** a fingerprint, **** a taxi, I'm going to make money doing this job illegally"
 

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Tons of reasons probably..

1. It's probably their biggest market in the U.S so they're not trying to burn ties with that
2. New York is corrupt as shit and that was probably a part of their deal when Bloomberg made his investment when he said he was going to "&%[email protected]!*ing destroy the taxi industry"
3. Not to knock other markets but I doubt they make as much.. Uber drivers here make what? $1,000 with UberX a week after expenses? A lot of other places make $1,000 with nowhere near as many expenses. Gotta keep those politicians pockets full.
4. Other cities for the most part don't have a setup taxi industry such as New York.
People are not making no $1,000 week here at regular rate, no way
 

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Really? You imagine an immigrant can "save" up $1,000,000 in a remotely honest manner?
They used to buy medallions in New York like you bought a house. More than a few immigrants hold medallions. The reality, in this litigious society in which we live, demanded, in fact, that any medallion holder keep out a loan on his medallion, thus keeping a lien on it, that kept it from being taken as the result of an adverse judgment.
 

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Could all this put more power back into those madalins ? With uber getting into higher power that there are laws in place so big time monopoly don't own a certain percentage of pool. Example like when T-Mobile wanted to combine with version but can't cuz then version would own a lot of phone internet and TV services
 

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They used to buy medallions in New York like you bought a house. More than a few immigrants hold medallions. The reality, in this litigious society in which we live, demanded, in fact, that any medallion holder keep out a loan on his medallion, thus keeping a lien on it, that kept it from being taken as the result of an adverse judgment.
I'd like to ask a serious question. No, really.... serious inquiry.

The strategy makes sense for any medallion owner to have an encumbrance or lien on his property,
if at least to discourage some vexatious litigant from suing an owner and enforcing a judgment
to attack the medallion owners interest. If there's a loan out on it (and consequently a lien)
wouldn't the owner have to hide the money ? What I'm asking is, unless it's a brother-in-law
type of transaction, wouldn't there have to be loan proceeds somewhere and then those would be
equally at risk ? Else, there would still be substantial equity in the medallion (high six-figures)
unless the loan was for several hundred thousand bucks. He spent the money ? On what ?
 

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Discussion Starter · #79 ·
Don't have to wait for late Friday vote. No tests, no accessibility, no safety. The propaganda is Uber is servicing the ghetto areas, selling cashless rides to people with no credit cards. Where 80% of blacks of working age have criminal records.

Aldermen OK weaker Uber rules after Emanuel threatens to adjourn chaotic meeting

http://www.chicagotribune.com/news/...ty-council-uber-rules-met-20160622-story.html

 
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