Sunday, January 12, 2014

The next NYC Taxi Medallion auction will be held on Feb 26, 2014

If you are interested go to the above page today, and start getting busy.

Here are my thoughts:

It is not a good sign that Mayor de Blasio has not found an acceptable replacement  for Bloomberg anti Industry Taxi Commissioner  David Yassky after firing said Yassky on television. Potential candidates face media and career crucifixion. Even I backed off due to  too many dental appointments.

The last auction of 200 Corporate medallions reflected the hopes of the Medallion  Syndicate top dogs  who themselves went in heavily. Andrew Murstein's Taxi Bank Medallion Financial Corporation placed winning bids for sixty of the two hundred medallions. So there is no breadth or depth to the market. 

It is reported that Yassky is going after Evgeny Friedman for operating Owner Driver medallions. The main reason medallion prices are high as they are is that so few  Owner Driver medallions come to market when an owner driver retires, dies or finds a new career. 

Widows and heirs and retirees are not presently forced to sell. They can lease to operations lime Friedman's and keep them off the market. My understanding is that no corporate medallions will be on the block this February. Andrew Murstein will not be able to play Taxi Reserve Bank and buy up .

Potential owner drivers are lease drivers right now. If they watch green and black liveries eat their lunch   in north brooklyn, western Queens and Harlem and get  bolder going
downtown directly in numbers that overwhelm enforcement tbey might start thinking of opening a deli.