Uber, Lyft and the hard economics of taxi cab medallions

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This fight pitted the Taxi Workers Alliance against corporate giants uber and Lyft. facing medallion owner-drivers, and to make recommendations for council action, including ways to finance a fund.

The price of taxi-cab medallions in New York seem to have hit a new low. Early this month, a.

No one predicted that Uber and Lyft would practically bankrupt the individual tax cab owners.. usually a hard, fixed asset – like the home they live in.. New York city taxi drivers who own taxi medallions that are “underwater” can “cram down” the taxi medallion loan so that the only the portion of the taxi.

Price cuts by Uber and Lyft are hurting New york city yellow taxi revenues harder. Weather provided another assist to yellow cabs in the March comparison, but yellow taxi cab numbers were still.

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There are 12 times more Uber and Lyft trips than taxi trips per day in San Francisco. Taxi income Only 17% of medallion holders earn a sustainable income, according to an MTA-commissioned report.

Diva alleges that Uber saves money by misclassifying its drivers as independent contractors instead of employees, taking market share from competitors like Diva that follow the law. Uber moved to disqualify Postman and his firm, arguing postman worked with Uber on litigation involving the driver classification question while at the U.S. Chamber of Commerce Litigation Center.

Three New York-based credit unions that specialized in loaning money against taxi cab medallions, the hard-to-get licenses that allow the city’s traditional cab fleet to operate, have been placed into conservatorship as the value of those. Yet we should not overlook the major economic impact of Uber (and its main competitor Lyft).

Home / Editor’s Picks / Uber, Lyft take down not just cab drivers, down not just cab drivers, but also lenders. By:. loaning money against taxi cab medallions, the hard-to-get licenses that.