Taxi & FHV

Taxi King’s medallions go for $170,000 apiece—and some for $250,000

Taxi King’s medallions go for $170,000 apiece—and some for $250,000

The conversion of taxi medallions from a coveted license into a distressed asset accelerated Thursday as a hedge fund paid $170,000 apiece for 131 medallions at an auction in Flushing, Queens, writes Crain’s Matthew Flamm. The winning bid came to $22,270,000. A separate pool of eight medallions sold for $2 million, or $250,000 apiece. All(…)

Uber’s goodwill campaign arrives in New York City

Uber’s goodwill campaign arrives in New York City

With momentum building in New York City to curb the growth of companies like Uber, the corporation’s CEO spent Monday recasting the Silicon Valley unicorn with the bad-boy reputation as Mr. Nice Guy. Dara Khosrowshahi, the former Expedia CEO who’s been trying to reshape Uber since replacing Travis Kalanick last summer, began the day by(…)

A charm offensive in London too – As Uber faces its day of reckoning

A charm offensive in London too – As Uber faces its day of reckoning

Back in September, London Mayor Sadiq Khan made a headline-grabbing stand against Uber: He canceled the ride-hailing app’s license to operate in the city, citing among its grounds Uber’s inadequate working conditions and failures to report sexual assault. But the ban has remained intentionally un-implemented during a long appeal process: Ubers by the thousands still ply the(…)

Foreclosed ‘Taxi King’ medallions going on the block in New York

Foreclosed ‘Taxi King’ medallions going on the block in New York

Evgeny “Gene” Freidman, once known as New York’s “Taxi King”—now better known as a potential witness against President Donald Trump’s embattled lawyer, Michael Cohen—will get a farewell from the yellow-cab industry June 14. That’s when 139 taxi medallions he once owned will go on the block at the Sheraton LaGuardia East in Flushing, Queens. The(…)

Here’s how Uber compares against Didi around the world

Here’s how Uber compares against Didi around the world

Fresh off of pulling out of Southeast Asia, Uber CEO Dara Khosrowshahi is confident that he can win in all the other markets the company is continuing to operate in. “India, Middle East, Africa, etc., we are going to be, I believe, the winning player in those markets and we’re going to control our own(…)

Sony rolls out ‘Everybody’s Taxi’ dispatch service later this year

Sony rolls out ‘Everybody’s Taxi’ dispatch service later this year

Sony is moving forward with plans to introduce a taxi-hailing service in Japan, unveiling a joint venture with cab companies called ‘Everybody’s Taxi’, writes Bloomberg. The Japanese electronics maker, which announced in February that it was forming an alliance, said it will begin services within the current fiscal year through March. Subsidiary Sony Payment Services(…)

Uber and Lyft failing to support those with reduced mobility in New York

Uber and Lyft failing to support those with reduced mobility in New York

Out of a fleet of 100,000 for-hire vehicles in New York City, the Taxi and Limousine Commission has estimated that only 0.5 per cent of them are wheelchair accessible, reports intelligenttransport. A recent report by New York Lawyers For The Public Interest (NYLPI) has highlighted a serious fault within the operation of for-hire vehicle (FHV)(…)

Uber posts rare profit, sort of, MoneyCNN reports

Uber posts rare profit, sort of, MoneyCNN reports

Uber just turned a big profit — but don’t get used to it. The startup said Wednesday that it posted a $2.5 billion profit in the first quarter after years of mounting losses. However, the impressive figure was almost entirely the result of Uber ceding two of its operations abroad to rivals. Uber said it(…)

Green taxis: We’re hurting too

Green taxis: We’re hurting too

In the debate about Uber and cabs, those created to serve the outer boroughs are forgotten, writes Nancy Reynoso who is a green taxi driver who lives in Bronx, New York City. When City Council Speaker Corey Johnson expressed his support during a recent radio interview for a package of bills that would better regulate(…)

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