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Owners of New York City's taxi "medallions" filed a lawsuit (PDF) against city regulators today, saying their business has been devastated by the decision to allow companies like Uber to compete using "E-hail" services.
A medallion is required to operate a New York City yellow taxicab, the only type of vehicle allowed to accept passengers who hail cabs on the street. Until recently, those medallions could sell for over $1 million. Companies like White & Blue Group, one of the plaintiffs in the case, managed fleets of licensed taxicabs by leasing out the medallions.
According to the suit, White & Blue Group, which manages the largest fleet of leased taxicabs in New York, "has seen its monthly leasing income drop as much as 50% in the past year," and has been forced to idle as much as 20 percent of its fleet each day. The complaint was filed today and reported earlier by Reuters.
Extortionists crying about losing money is about the saddest sight in the world.
(Score: 5, Insightful) by deimtee on Friday November 20 2015, @12:36AM
If you read the article and the comments, one of the medallion companies main complaints is that their drivers are leaving to drive for Uber.
The people mainly being hurt are the rent-seeking medallion owners. There are having to pay their drivers decent wages and give them reasonable working conditions. How sad.
If you cough while drinking cheap red wine it really cleans out your sinuses.
(Score: 2) by hemocyanin on Friday November 20 2015, @03:15AM
Welcome to the new boss, same as the old boss. 10 years from now: "the people mainly being hurt are the rent-seeking Uber owners."