Wednesday, February 19, 2014

Are you buying a medallion in the February auction? Are you suicidal?

I support efforts to make the streets safer for pedestrians but de Blasio's plan to jam taxi meters puts the medallion taxi driver at a competitive disadvantage against off the meter green livery and both Uber and the future Hailo livery service. The mantra of the New York passenger is "step on it" and if the cab driver can't "step on it" while the others can he is dead and will seek to work for Uber etc.
The November taxi auction was about the big medallion players pushing up the fictitious value of the medallions they already have. The February auction is about owner drivers. Will they find enough of them to raisr $200 million?

Not The Gothamist