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: 4, Touché) by caffeine on Friday November 20 2015, @09:00AM
I can't wait for the free market to route around the monopoly of doctors. How about we write an app call Stonr where anyone can be a doctor and write prescriptions.
I'd like to have a go at orthopedic surgery, how hard can it be, it's just carpentry with bone after all. And I'd be happy to just be paid 20% of what surgeons charges.
We can also route around the monopoly of lawyers. I've seen plenty of court room dramas, I'd have a go at that. And, we could all make much more at patent lawyers, just read a thread we soylenters know everything about that.
(Score: 0) by Anonymous Coward on Friday November 20 2015, @01:28PM
Those aren't really a fair comparison. The Uber drivers are already licenced to drive with passengers.
Maybe something closer to a cancer specialist prescribing drugs for an infection, instead of an ID specialist, or a divorce lawyer working a shoplifting case.
(Score: 3, Interesting) by jdavidb on Friday November 20 2015, @02:49PM
My great grandfather apprenticed to be a doctor. Unfortunately Texas law changed just before he could have become a doctor using that system. After the law change, he couldn't become a doctor without an expensive education he couldn't afford, even though he was just as qualified as all the guys running the system, who had all learned the way he did.
Lots of groups have struggled against the monopoly of doctors. At one time orthopedics had a lot of trouble from it. Chiropractors and midwives have also run into great difficulty in some areas. I'm a little bit familiar with the midwife situation as six of my seven children were born at home delivered by a midwife. Shortly after one of those deliveries the midwife went back to her home state to practice underground midwifery illegally.
ⓋⒶ☮✝🕊 Secession is the right of all sentient beings
(Score: 2) by jdavidb on Friday November 20 2015, @02:50PM
ⓋⒶ☮✝🕊 Secession is the right of all sentient beings